Safaricom’s Mobile Money Platform M-PESA has introduced M-PESA Ratiba, the first-of-its-kind mobile money feature that will allow users to set up standing orders directly from their M-PESA wallets, enabling seamless and automatic payments of recurring transactions and bills.
The feature allows users to automatically transfer funds from their wallet on a daily, weekly, monthly, or yearly basis to another person, or to pay recurring bills or subscriptions. Other benefits include a simple and seamless setup process and no penalties incurred for canceled or failed standing order transfers that may occur due to insufficient balance.
“Safaricom continues to transform lives through delivery of differentiated and personalized digital financial services and experiences to our customers. M-PESA Ratiba will allow customers worry-free digital payments of bills and transactions. We continue to innovate on the M-PESA platform to give our customers more visibility, control and security around their financial wellness”
Peter Ndegwa, Safaricom’s CEO
To get started, customers must review and accept the terms and conditions, and they can then opt in using their M-PESA PIN. They can then choose which standing orders to set up, whether for sending money to family and friends, paying regular bills, or purchasing goods and services.
M-PESA Ratiba is now accessible on the M-PESA App’s Financial Services tab and on USSD through *334#.
M-PESA Ratiba will play a role in driving subscription services, opening new possibilities in the media and entertainment, software and technology, health and wellness, education as well as the e-commerce industries while transforming customer experiences within the financial services ecosystem.
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