Safaricom’s Mobile Money Platform, M-PESA, has launched a mobile money feature, M-PESA Ratiba, to allow users to set up standing orders directly from their M-PESA wallets.
This will enable seamless and automatic payments of recurring transactions and bills.
The feature allows users to automatically transfer funds from their wallet to another person on a daily, weekly, monthly, or yearly basis or to pay recurring bills or subscriptions.
Other benefits include a simple and seamless set-up process and no penalties for canceled or failed standing order transfers that may occur due to insufficient balance.
Speaking during the launch, Safaricom Chief Executive Officer (CEO) Peter Ndegwa said M-PESA Ratiba will allow customers to make worry-free digital payments for bills and transactions.
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“We continue to innovate on the M-PESA platform to give our customers more visibility, control and security around their financial wellness.”
“This innovation, the first of its kind to bring standing orders to the convenience of mobile devices, plays a key role in enhancing financial inclusion among the underbanked population while advancing the country’s progress towards a cash-lite economy,” he added.
Further, he stated that M-PESA Ratiba will also play a key role in driving subscription services, opening new possibilities in the media and entertainment, software and technology, health and wellness, education, and the e-commerce industries while transforming customer experiences within the financial services ecosystem.
With M-PESA Ratiba, you can set up regular payments for rent, school fees, insurance, newspaper subscriptions, or other standard utility bills, as well as upkeep for your loved ones.
M-PESA Ratiba is now accessible on the M-PESA App’s Financial Services tab and on USSD through *334# option 9.
To get started, customers must review and accept the terms and conditions, and they can then opt in using their M-PESA PIN.
Similarly, they can choose which standing orders to set up, whether for sending money to family and friends, paying regular bills, or purchasing goods and services.
