Skip to content
Investment

NSSF To Collect Tenant Purchase Scheme Installments Through M-PESA

BY Soko Directory Team · March 30, 2020 03:03 pm

Safaricom (NSE: SCOM) and the National Social Security Fund (NSSF) have today announced a partnership to empower customers on the NSSF Tenant Purchase Scheme to make monthly installments through M-PESA. The service seeks to combat the spread of Coronavirus by providing the Scheme’s members with a cashless payment solution which helps them limit their movement and physical contact when making payments.

“Convenience and speed continue to be a key concern when making payments and this has continued to drive the demand for M-PESA among our customers. This partnership with NSSF ushers a new era for their Tenant Purchase Scheme customers empowering them to make payments from the comfort of their homes wherever they may be, and at any time,” said Sitoyo Lopokoiyit, Chief Financial Services Officer, Safaricom.

The initiative further saves customers on the scheme from having to travel and queue in a bank to make rent payments. To make a payment, customers can dial *303*3#, key in their details and make payments from their M-PESA account.

“NSSF has adopted a strategy to go digital by placing all our services at the fingertips of our customers, ensuring that we meet them wherever they are and at their own convenience. Partnering with Safaricom has made it possible to achieve this goal by taking advantage of the unique, world-class capabilities they provide through M-PESA,” said Dr. Anthony Omerikwa, CEO, National Social Security Fund.

The partnership will primarily target NSSF Tenant Purchase Scheme members in Nairobi’s Nyayo estate Embakasi, Hazina, Kitusuru, Mountain View and Eldoret’s Kapsoya estate.

Besides payments, the new service also provides the Scheme members with the capability to reconcile and generate reports of their payments and standing.

The NSSF Tenant Purchase Scheme provides a path to homeownership by enabling buyers to purchase a home over a period by making monthly installment payments to offset the cost.

Besides installment payments, the Tenant Purchase Scheme equally serves NSSF Tenants and provides an avenue to make service charge payments too.

Today’s announcement is the latest in a raft of measures rolled out by the two organizations to provide NSSF customers with increased convenience and speed when accessing services.

Starting March 2019, NSSF began the rollout of an entirely cashless system across its entire branch, providing for member benefit contribution through the Paybill 333300 or by dialing *303*1#.

In February 2020, NSSF extended its Haba Haba innovation to digital taxi operators, providing a one-stop-shop where digital taxi operators can make their member contributions, make NHIF contributions, get insurance and receive a daily, discounted data bundle. The solution is also available on *303*2#.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

Trending Stories
Government and Policy Kenya Is Struggling With Debt As Modest Revenue Is Collected With Limited Development Investment Steve Biko Wafula
Entrepreneur's Corner Kenyan Clients Don’t Care Whether You’re In the ICU: The Brutal Truth Of Entrepreneurship Soko Directory Team
Headlines Are The SACCOS The Infinite Money Glitch Of Kenya? Soko Directory Team
Government and Policy Saccos Clamp Down On Struggling Businesses, Recover Sh491 Million In A Ruthless Crackdown Soko Directory Team
Entrepreneur's Corner The Greatest Skill Everyone Should Master Is The Skill Of Knowing How To Manage Money Soko Directory Team
Related Articles
Investment UBA Group To Commence Full Banking Operations In France Soko Directory Team
Headlines New Business Rises At Strongest Pace In Six Months Soko Directory Team
Headlines Are The SACCOS The Infinite Money Glitch Of Kenya? Soko Directory Team
Investment Why HF Group’s Rights Issue Is The Opportunity You Can’t Ignore Steve Biko Wafula
Investment UBA Kenya’s $282 Million Commitment To Kenyan Entrepreneurs Soko Directory Team
Explore Soko Directory
Banking Blogging Commodity Watch Did you know Entertainment Entrepreneur's Corner Feature Government and Policy Headlines Investment Lifestyle Market News Money Opinion Press Releases Stock Watch Technology
Soko Directory Archives