Photo: Safaricom PLC

New M-Pesa for Business App to Boost Cash Management Process for Merchants

Safaricom announced the launch of M-Pesa for Business App for Android and iOS users on Thursday, June 18th making cash flow management in the MSMEs sector scale up to a new experience.

This implies that an estimated 170,000 merchants on the Lipa na Mpesa service now have a more integrated way of managing their till and making transactions; a substantive model to the *234# USSD menu.

Safaricom CEO Peter Ndegwa said, “At Safaricom, we are taking a focus on the needs of small and medium businesses, to provide them with suitable technologies to help them grow.”

“The M-Pesa for Business smartphone App is such a solution. It empowers more than 170,000 businesses across the country to send money and make payments and provides them with simple and detailed reports from the convenience of their mobile phone.”

M-Pesa for Business Features

As a business owner, you can access real-time statements, export statements, and track your business performance on the go using the M-Pesa for Business app.  Further, you can withdraw funds from Lipa Na M-PESA to their M-PESA accounts, bank accounts or at an agent.

Using the app’s features a business owner with a till can also send money to other M-PESA customers for purposes of; paying wages, paying for supplies and intra-business payments.

Moreover, the app is configured with rich, detailed reports including money-in and money-out charts, store overview and frequently used Lipa Na M-PESA Tills and PayBills for user convenience.

Read Also: Workers’ Unable to Send Relatives Cash as Covid-19’s Impact Bite

A few weeks ago, Safaricom revamped its Business Payments service, to allow direct transactions from Mpesa business tills. The new feature gave Micro, Small, and Medium Enterprises (MSMEs) the privilege to send money and make payments from their business tills directly.

Business owners across the country can now apply for a Lipa Na M-PESA Till online on Safaricom’s newly created platform for the service.

About My SME Update

Kenya's SMEs Conversation.

Check Also

Kenyan startups

German programme to back Kenyan startups with up to $120k grant capital

Germany’s Federal Development Ministry (BMZ) has launched DeveloPPP Ventures, which aims to empower Kenyan startups by providing an entrepreneurial support program with a grant of up to EUR100,000 (US$120,000).

Leave a Reply

Your email address will not be published.