Safaricom (NSE: SCOM) has launched an eight week Lipa Na M-PESA promotion that will reward both customers and merchants for making and receiving payments through the service. Buyers and sellers will receive 1 point for every KES 100 payment with customers standing to win one of 6 houses in weekly draws.
The promotion runs until March 5th, 2020 and will reward both customers and merchants in 8 regions across the country. In the grand finale, customers across the 8 regions will win one of 8 tractors each equipped with a plow and trailer.
Safaricom will also reward 8 customers across the eight regions every minute with a surprise cashback, with more than 600,000 shoppers getting awarded by the end of the promotion.
All merchants will receive 25 percent of their daily till charges as a cashback in addition to standing a chance to win one of 8 Fuso F1 nine tonne trucks per region or one of 120 Tuktuks also to be awarded regionally.
“M-PESA has emerged as a preferred way to make and receive cashless payments due to its convenience and the peace of mind it delivers to shoppers and businesses. With this promotion, we are encouraging merchants and customers to use Lipa Na M-PESA to receive and make payments at kiosks, supermarkets, fuel stations, bars, restaurants, car washes, and various merchant tills and give them a chance to win big,” said Sylvia Mulinge, Chief Customer Officer, Safaricom.
Safaricom said the promotion is its latest move to deepen the uptake of cashless payments in the country. The company launched Lipa Na M-PESA in June 2013, and for the first time, the service provided many businesses with an easy and convenient way to receive cashless payments. Today, more than 140,000 businesses accept payments through Lipa Na M-PESA.
According to data from the Central Bank of Kenya, the mobile phone is now the most popular way to make and receive non-cash payments, accounting for more than nine of every ten such transactions.
By various estimates, cash remains the dominant mode of payment in the country accounting for more than nine of every ten transactions. The Lipa Na M-PESA promotion is Safaricom’s latest initiative in the war against cash as it deepens the war against cash, which has seen the company launch different partnerships in the recent past.