Safaricom has launched M-PESA Ratiba, a groundbreaking feature within its mobile money platform, M-PESA
This new capability allows users to establish standing orders directly from their M-PESA wallets, enabling automatic and seamless payments for recurring transactions and bills.
The feature enables users to schedule transfers from their wallets on a daily, weekly, monthly, or annual basis. These payments can be sent to individuals or used for recurring expenses like bills or subscriptions. Key advantages include a hassle-free setup process and the absence of penalties for failed or cancelled transfers due to insufficient funds.
Safaricom remains committed to enhancing lives by delivering tailored digital financial services and experiences. M-PESA Ratiba is designed to provide customers with worry-free, digital payment solutions for their regular transactions and bills. According to Peter Ndegwa, CEO of Safaricom, “This innovation, the first of its kind to bring standing orders to the convenience of mobile devices, plays a key role in enhancing financial inclusion among the underbanked population while advancing the country’s progress towards a cash-lite economy.”
M-PESA Ratiba is expected to significantly impact subscription services, unlocking opportunities in sectors such as media, entertainment, technology, healthcare, education, and e-commerce. It also promises to enhance customer experiences in the financial services space. With M-PESA Ratiba, users can effortlessly manage regular payments, including rent, school fees, insurance, newspaper subscriptions, utility bills, and support for loved ones.
M-PESA Ratiba introduces automatic payments
Safaricom launches M-PESA Ratiba, allowing users to set standing orders for recurring payments directly from their mobile wallets. (Image source: Adobe Stock)
