Safaricom introduces MPESA Business App for merchant services

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Safaricom has announced the roll-out of a Lipa Na M-PESA business app for its more than 170,000 merchants on the money service. According to the telco, the “M-PESA for Business app will seek to empower merchants and businesses with real-time access to statements, tracking business performance, and transactions.

Businesses with till numbers will now be able to send money to M-Pesa customers. This will see enterprises to be able to pay customers, wages, supplies, or even make payments to other businesses.

The app will enable Lipa na Mpesa merchants to consolidate their financial records. The feature provides an advanced technology which gives monitoring of cash flows through charts, store overview, and till usage management.

According to CEO Peter Ndegwa, “At Safaricom, we are focusing on the needs of small and medium businesses, to provide them with suitable technologies to help them grow. The M-Pesa for Business smartphone App is such a solution. It empowers more than 170,000 businesses across the country to send money, make payments, and provides them with simple and detailed reports from the convenience of their mobile phone.”

Safaricom has made the app available for Android devices from the Play Store, with an IOS App version in motion. 

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About Author

Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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