Here Are 10 Reasons Why You Need M-PESA For Business To Thrive

With Covid-19, many businesses are feeling the heat. Millions have actually shut down and people have lost their jobs. Every business is trying to remain afloat at the moment with the future still based on the hope of a shred of thread.

With the current pandemic, the small-medium enterprises (SMEs) are the most hit. Millions of them are shutting down. Is there a way that to shield them from the pandemic and give hope of seeing another tomorrow?

According to an economic analyst, Steve Biko Wafula, small businesses in Kenya only have one option to survive; to embrace the use of technology. “This pandemic presents an opportunity for small businesses to embrace the use of technology such as e-commerce, and above all, going cashless.”

To help SMEs thrive and improve their efficiency during this pandemic, Safaricom has come up with an M-PESA for Business product, M-PESA till that now enables businesses and individuals to do more than ever before. Thanks to the new MPESA for Business app, businesses and individuals can perform more than 10 tasks by the press of the button.

Here are 10 reasons why you need M-PESA for Business

Minimize handling of solid cash

With Covid-19, the World Health Organization (WHO) has been calling on businesses and individuals to avoid the handling of banknotes as they present a high risk of spreading Covid-19. In Kenya, President Uhuru Kenyatta encouraged businesses and individuals to embrace the use of M-PESA in paying for products and services.

M-PESA for Business enables businesses to go fully cashless. It enables them to receive payment from customers in real-time and efficient in consolidating the same.

Paying Suppliers

Sometimes, paying multiple suppliers can be hectic and overwhelming for a business. With M-PESA for Business, businesses have every reason to smile as the platform allows them to pay multiple suppliers on one platform. This helps the business to be organized and follow up on all pending payments.

Payment of salaries

How do you pay salaries to your employees? Do you still use the bank? Do still use the cheques? Does paying of employees still give you a headache because of the paying of having to combine lists and do the calculations? You should now relax.

M-PESA for Business app has a central point that combines the HR function as well as a simple and easy to understand payroll function that helps a business to manage and pay salaries without any trouble.

Generate reports

Truth be told, many SMEs never generate reports on how their businesses are operating. They see no need for such reports and maybe fear the process of generating the same. M-PESA for the Business app has everything embedded. From the business’s daily transaction, the app is able to generate reports that clearly indicate the performance of the business.

Trace and monitor cash flow

Business is about money. Understanding how your business handles money is the key to success. Cash flow is all about the money that comes in and leaves your business. M-PESA for Business app is able to let you know all about your cash flow.

Pay utility bills

The app enables the business owner to pay for utility bills such as water, electricity, and other services directly from the till number.

Move cash across businesses

M-PESA for business app enables the business to the business movement of funds without any stress. This eliminates all the delays occasioned by paperwork.

Withdraw cash from M-PESA Agent

The till enables customers to pay directly for goods and services. You on the other hand, as a business owner, you will be able to withdraw your cash by visiting any M-Pesa agent.

Selling airtime

The app enables you to sell airtime to your customers as you earn a commission from it.

READ: How Is M-PESA For Business Transforming Small Businesses In Kenya?