Safaricom has today unveiled a new platform targeted at businesses that involve repeat payments. M-PESA Bill Management service is built on top of the company’s ubiquitous money transfer service M-PESA.
“M-PESA Bill Manager empowers thousands of Kenyan businesses, especially schools and landlords, to digitise their businesses beyond just collecting payments at no additional cost,” said Peter Ndegwa, CEO, Safaricom.
M-PESA Bill Management will help business owners whose businesses involve repeated payments like landlords.
It can also help schools in fee payment and utility providers. Using M-PESA Bill Management service, businesses can easily receive pending payments from customers and issue them with electronic receipts.
The service has several nifty use cases.
Schools can use the platform to customise required payments, including fees, transport, lunch, and more. Schools can also send reminders to parents/guardians to pay for fee balances via SMS.
On the other hand, landlords can use the platform to remind their tenants to pay for rent and reconcile any received payments.
And for utility providers, the service comes as a life saviour by letting them automatically bill their customers. The system will generate the SMS bill requests and invoices for free at no additional cost to businesses.
For M-PESA customers, the new service can help automate payment of bills. M-PESA Bill Management provides an easy way to view all your bills, and you can set reminders to pay them while due. For convenience, M-PESA Bill Management service also allows M-PESA users to automate bill payment.
M-PESA customers can access the platform by dialling the universal M-PESA USSD code *334# or via an upcoming M-PESA app.
Since it’s built on Safaricom’s very own M-PESA mobile money service, payments are instantly reconciled.
“The service will equally empower millions of M-PESA PayBill customers with better record-keeping by providing digital receipts for each payment. Our ambition is to empower both businesses and our customers easily manage and keep track of payments,” Ndegwa added.
M-PESA Bill Management service will be free to use to all businesses with Lipa Na M-PESA Pay Bill, the company said in a statement.