Safricom has Launched an M-Pesa Bill Management service for businesses, further actualizing its shift towards becoming a purpose led technology company. It has recently launched other products geared at SMEs, among them the Pochi la Biashara feature.
The bill management service offers an electronic platform that enables businesses to receive incoming payments from customers. The system avails electronic receipts after each payment.
The service targets businesses offering products, services and utilities with recurrent mobile money transactions. It’s a one-fits-all service as ordinary M-Pesa users can now view all their bills, receive reminders and automate payment of bills.
M-Pesa Bill Manager is designed to be a user-friendly and user-specific service, with school related payments for instance customized to handle different types of fees such as tuition, lunch, transport, school trips among others, and also to send fee reminders to parents and guardians.
Landlords and property agents alike will enjoy the perks the M-Pesa Bill Manager offers.
They can send rent payment reminders and reconcile any received payments while for utility providers such as water and internet providers, the service will enable them to automatically bill their customers who will have a way to easily view and manage pending bills.
Every single payment received through M-Pesa is instantaneously registered on the bill manager database. Alternatively, the business owner bears the option of manually adding payments.
Customers using the service will instantly receive an SMS reminder when a new bill is generated or when the bill is due.
“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. 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” expressed Peter Ndegwa, CEO, Safaricom
The platform will be offered free to all businesses with a Lipa Na M-PESA Pay Bill who can log in via a portal. SMS bill requests and invoices will be automatically generated and sent by the system at no cost to the business.
All M-PESA customers can manage their bills through the Bill Manager option under Lipa Na M-PESA on *334#, and on the upcoming M-PESA App.
Besides automatically receiving invoices and receipts, customers can also query pending bills at any time.
Safaricom eases monetary transactions for their users as with automatic bill tracking and reconciliation, the service saves a business’ customers from having to queue to physically make payments and having to present paper working detailing the payment.