How to Sign up your Business for Lipa Na M-Pesa.
Lipa Na M-PESA PayBill
PayBill is a cash collection service that allows your organization to collect money on a regular basis from your customers through M-PESA.
Key Benefits of PayBill Service
- Secure
- Convenient
- Real-time settlement
- Low cost
- Easy reconciliation
Uses of the PayBill Service
- Utility bills – water, power, Pay TV.
- Rent payments – Lipa Kodi
- School fees payments – Lipa Karo
- Bank/SACCO account deposits
- Statutory payments – NHIF, NSSF, KRA
- Top up of pre-pay cards – fuel cards, debit cards e.g. Nakumatt Global.
Features of PayBill Service
- Has head office and an unlimited number of child PayBill accounts
- Each child PayBill account has a different name and short code
- A business terminal can be attached to each sub-account and receive notifications of Payments
- There is an allowance for the Account number for each child account
- Web access and settlement of funds to Bank can only be done at Head office
Use Cases of PayBill Service
- Banks aggregate payments for merchants that Bank with them
- Cashless Distribution where distributors require account number details e.g. invoice numbers
- County Revenue Collection – set up different PayBill accounts for the different revenue collection points, but centralize banking
Lipa Na Mpesa is a service by Safaricom which allows merchants or business owners to receive payments from customers using M-Pesa.
How to Sign up your Business for Lipa Na M-Pesa.
Requirements:
1. Pin number
2.Your ID as the business owner.
3. The registration documents for your business from the Company Registrar or County Government business permits.
4. A mobile number registered to M-Pesa and M-Shwari.
You will get a till number and a special sim card which is basically used for receiving M-Pesa payments.
The SIM card also comes with special access to customer care (2134) which is different from the regular customer care the public has access to.
The Sim card has the ability to hold up to sh50 million in a given moment.
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