Kenya’s giant Telecommunications provider has continued to elevate it’s user’s experience not only in communications but also in the finance space. In a bid to elevate reliability through its Mobile money product Mpesa, Safaricom has now introduced a new feature Mpesa Ratiba. This new feature will allow users on Mpesa to set up standing orders for their monthly recurring payments. According to Safaricom, the service is readily available and accessible to all Mpesa users
“This service is available to all M-PESA registered customers through their personal M-PESA accounts and will apply when they send money to other users’ personal M-PESA accounts or make Lipa na M-PESA payments to M-PESA Buy Goods, Business tills, and Paybills.”
With MPESA Ratiba, users can automate as many recurring bills as possible. This ranges from school fees, rent utilities, wage payment among many others. This new feature aims at providing Fairly easy, quick, and transparent set up process for users. It also Make timely payments and avoid penalties and embarrassments from delinquent payments.
There are two types of subscriptions for the service. First is My Subscription, this is pre authenticated and allows for automated transfers for so long as the subscriber has enough funds on their Mpesa wallets. The second is the My Reminder. With this, the user sets reminders for payment to be made for the various standing orders, and will be required to manually make the transactions, basically, no automated transfers will be made on behalf of the user.
Safaricom has also Allowed users to Set the duration at which t the standing orders will be in place. On the flip side, They can also choose to pause or to even revoke the order at their pleasure. In the case of revocations, the users will incur zero costs for the process. Indeed, Safaricom is For You.