University students can now access Higher Education Loans directly to their M-PESA accounts.
This is after Safaricom and the Higher Education Loans Board (HELB) unveiled the HELB Mobile Wallet allowing students to receive their loans directly to their M-PESA account.
The two firms have also unveiled the HELB M-PESA Mini App, where all HELB beneficiaries can manage their accounts.
The mini-app will empower beneficiaries to access their HELB upkeep, withdraw funds, repay loans, apply for subsequent loans, view their loan status, and access their statements from an Android and iPhone app.
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HELB CEO Charles Ringera noted that the partnership with Safaricom will empower beneficiaries with even more convenience and greatly enhance the experience when accessing funds and their services
“All HELB beneficiaries can now access all our services through the HELB Mini App or by dialing *642#, where they can apply for subsequent loans, access their HELB upkeep funds, withdraw funds, view their loan status, access their statements, and repay loans, all from feature phones, an Android and iPhone app,” he said.
All M-PESA customers can access the HELB Mini App under the “Services” section on the M-PESA Super App.
The HELB Mini App is available to all M-PESA users under the "Services" area of the M-PESA Super App.
After entering their phone number, beneficiaries who have previously registered their mobile phone numbers with HELB will be given a code to activate the Mini App and create a PIN for later access.
To connect their numbers and activate the Mini App, beneficiaries who still need to register their mobile number with HELB must enter a phone number linked to the same National ID as their HELB account.
Beneficiaries who have already registered their mobile phone numbers with HELB will then key in their phone number, upon which they will receive a code to activate the Mini App and set a PIN for subsequent access.
Beneficiaries yet to register their mobile number with HELB will need to key in a phone number registered to the same National ID linked to their HELB account to connect their numbers and activate the Mini App.
On her part, Safaricom Chief Financial Officer Esther Waititu noted that the partnership marks a significant milestone in the telcos support to HELB, whose vision is to provide universal financing for Kenyans, leveraging on the key values of inclusion, equality, and innovation.
