Safaricom has introduced M-Pesa Ratiba, an innovative feature in the realm of mobile money that aims to transform the landscape of recurring payments.
This groundbreaking tool enables users to automate standing orders directly from their M-PESA wallets, thereby facilitating the payment of routine transactions and bills without the need for manual processing.
M-PESA Ratiba allows users to schedule transfers on a daily, weekly, monthly, or even annual basis, simplifying the management of payments such as school fees, rent, insurance, and utility bills.
Additionally, users can regularly send funds to family and friends, ensuring that financial commitments are fulfilled punctually.
The feature is designed for ease of use, providing a straightforward setup process while guaranteeing that no penalties will be incurred for failed transactions due to insufficient funds.
“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,” Safaricom CEO Peter Ndegwa said.
The introduction of standing orders through mobile devices marks a pioneering step in enhancing financial inclusion in Kenya, particularly for those who are underbanked.
This feature plays a significant role in the nation’s shift towards a cashless economy, promoting the increased use of digital payment methods.
M-PESA Ratiba is anticipated to stimulate growth across various sectors, including media, entertainment, technology, health, education, and e-commerce.
It provides a revolutionary solution for businesses that depend on subscription models, facilitating easier payment management for customers.
M-PESA Ratiba is accessible via the Financial Services tab in the M-PesaApp and through USSD by dialing *334# option 9, making it available to all users.
Customers can activate the service by reviewing and accepting the terms and conditions, entering their M-PESA PIN, and selecting from a variety of standing orders tailored to their financial requirements.
Since the launch of the M-PESA Super App in 2020, which currently features over 80 mini-apps for payment, savings, and credit services, Safaricom has consistently demonstrated its commitment to innovation.
