200,000 Businesses In Kenya Now Have Lipa Na M-Pesa

By Soko Directory Team / September 15, 2020 | 7:56 am



Lipa na M-PESA

Safaricom has announced a Lipa Na M-PESA milestone with the number of businesses on the service crossing 200,000.

Launched in 2012, Lipa Na M-PESA empowers businesses to make and receive payments from any customer or any other business across the country.

The service particularly caters to businesses by providing higher transaction and account limits, more secure payments, and easy integration with business systems and other financial services.

“The mobile phone has today become the most preferred alternative to cash and its popularity only continues to grow. More than ever, an increasing number of businesses are discovering the numerous advantages of cashless payments resulting in high growth for Lipa Na M-PESA. We continue to add more features and tools with a goal of empowering our business customers to grow and better manage their businesses,” said Peter Ndegwa, CEO, Safaricom.

Recent months have seen an increase in the uptake of Lipa Na M-PESA as more businesses, especially small businesses, have adopted cashless payments and gone online in response to COVID-19.

The rush by businesses in taking up the service has also been to meet growing uptake of Lipa Na M-PESA amongst Kenyans, with customers using the service increasing by 1 million since January 2020 to more than 6 million today.

Safaricom has made it easier for businesses to receive payments through Lipa Na M-PESA through a dedicated self-service portal at m-pesaforbusiness.co.ke.

The Retail sector leads in business usage of the service, followed by Hospitality (Hotels, Restaurants and Bars, and Catering), then General Trade, and Distributors.

With a growing number of small businesses on the service, Safaricom has recently unveiled several innovations that focus on them. These include the Lipa Na M-PESA Business App, which for the first time, provides many of these businesses with detailed reporting tools and a dashboard to track their cash flow. The App has been downloaded by more than 90,000 businesses since its launch two months ago.

Safaricom also launched the Transacting Till where small businesses on Lipa Na M-PESA can make payments through Lipa Na M-PESA, send money to M-PESA customers and withdraw cash from agents.

Other key innovations through the years include the M-PESA Daraja Application Programming Interface (APIs) which empowers any business or developer to build their applications on top of M-PESA.

In March 2007, Safaricom marked five years of the service by permanently slashing Lipa Na M-PESA Tariffs to 0.5 percent of the transaction value to a maximum of KES 200 per transaction.

As part of measures to assist businesses better cope with the COVID-19 Pandemic, Safaricom has waived all merchant transaction fees for all Lipa Na M-PESA transactions of 1,000 shillings and below.

READ: Did You Know That Safaricom Has Given You An Avenue To Report Fraudsters?





About Soko Directory Team

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

View other posts by Soko Directory Team


More Articles From This Author







Trending Stories










Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE



ARCHIVES

2020
  • January 2020 (272)
  • February 2020 (310)
  • March 2020 (390)
  • April 2020 (321)
  • May 2020 (335)
  • June 2020 (327)
  • July 2020 (334)
  • August 2020 (276)
  • September 2020 (172)
  • 2019
  • January 2019 (253)
  • February 2019 (216)
  • March 2019 (285)
  • April 2019 (254)
  • May 2019 (272)
  • June 2019 (251)
  • July 2019 (338)
  • August 2019 (293)
  • September 2019 (306)
  • October 2019 (313)
  • November 2019 (362)
  • December 2019 (319)
  • 2018
  • January 2018 (291)
  • February 2018 (213)
  • March 2018 (278)
  • April 2018 (225)
  • May 2018 (238)
  • June 2018 (178)
  • July 2018 (256)
  • August 2018 (249)
  • September 2018 (256)
  • October 2018 (287)
  • November 2018 (284)
  • December 2018 (185)
  • 2017
  • January 2017 (183)
  • February 2017 (194)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (205)
  • July 2017 (190)
  • August 2017 (195)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (165)
  • February 2016 (165)
  • March 2016 (190)
  • April 2016 (143)
  • May 2016 (245)
  • June 2016 (182)
  • July 2016 (271)
  • August 2016 (248)
  • September 2016 (234)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (166)
  • April 2015 (108)
  • May 2015 (116)
  • June 2015 (120)
  • July 2015 (148)
  • August 2015 (157)
  • September 2015 (188)
  • October 2015 (169)
  • November 2015 (173)
  • December 2015 (207)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950