More than 200, 000 businesses in Kenya are now using the Lipa Na M-PESA (Pay with M-PESA) service with the pandemic acting as a catalyst toward this adoption, says Safaricom.
In a statement, the company said:
“The rush by busineses in taking up the service has been to meet the growing uptake of Lipa Na M-PESA among Kenyans, with customers using the service increasing by one million since January 2020 to more than six million today.”
Since its launch in 2012, Lipa Na M-PESA has become a preferred alternative payment method among many businesses in Kenya.
As of now, the leading businesses using the service, from the largest, include:
- Retail business
- Hospitality (hotels, restaurants, bars, catering)
- General trade
These latest developments have come in light of the increasing efforts by Safaricom in pushing for its B2B products, notably:
- Increase in daily M-PESA limits
- Enabling Bonga Point digital points for payment
- Launch of the M-PESA for Business app and service
- M-PESA on USSD
- Mfuko Wa Biashara feature
So far, here are the milestones on the M-PESA business platform:
- Over 50, 000 M-PESA for Business App downloads
- Value of Lipa Na M-PESA transactions surpass P2P transactions
- Over 186, 000 Lipa Na M-PESA merchants
- Over 25 million M-PESA customers
- C2B transactions account for over 30% of new revenue growth
Speaking of this huge milestone, Peter Ndegwa, CEO, Safaricom, said:
“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.”
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