Safaricom has launched a new feature for businesses that allows direct transactions from Mpesa business tills. The Mpesa for Business tool is an upgrade of the current Lipa NaMpesa, giving a till access that was once only available to customer M-Pesa wallets. The Mpesa Business tool allows Micro, Small, and Medium Enterprises (MSMEs) to send money and make payments from their business tills directly.
Businesses can now send money to employees and customers directly from their tills. This feature is available through the Bulk Disbursement Service (B2C), which also allows salary, dividend, and Sacco payments. Moreover, the platform enables direct transactions to suppliers from the wallet for goods and bill payments. It also allows a businessperson to withdraw cash from an Mpesa Agent, a bank, or directly to their phone.
Experts term the new feature as a disruptive disintermediation tool as it makes business owners less dependent intermediaries like banks to complete transactions.
Businesses can sign up for the service by either dialling *234# or visiting the Mpesa For Business Website.