As the internet wars with Starlink continue, Safaricom has introduced a new feature to its already diverse M-Pesa portfolio. This is seen as a timely move to endear its customers and keep up with the stiff competition.
The leading telecommunications firm has introduced a Standing Order feature on M-Pesa, dubbed M-Pesa Ratiba.
What is M-Pesa Ratiba?
M-Pesa Ratiba is a feature that allows M-Pesa registered users to set up recurring (standing order) payments from their M-Pesa account to other customers or a Lipa na M-Pesa shortcode.
This can be used for services such as paying rent, utility bills, or school fees.
“This service is available to all M-Pesa registered customers through their personal M-Pesa accounts and will apply when they send money to other users’ personal M-Pesa accounts or make Lipa na M-Pesa payments to M-Pesa Buy Goods, Business tills, and pay bill.” the company said in a statement.
Accessing M-Ratiba
M-PESA Ratiba will be available via the two channels below.
- USSD *334# on Option 9 – This channel will allow the automatic model only.
- M-PESA Ratiba Mini-App on M-PESA Super App – This channel will allow automatic and reminder subscriptions.
Where can M-PESA Ratiba Be Used?
- Sending upkeep to family and loved ones
- Payment of wages to workers
- Payment of rent, service fees, and mortgages
- Payment of constant utility bills e.g. DSTV, water & electricity
- Loan repayments
- Payment of insurance
- Charity Donations
- School fees
Official Statement From Safaricom
“You will be able to create diverse types of recurring payment transactions by defining the transaction type (Paybill / Buy Goods / Send money), amount, due date, time of payment, recurrence (daily, monthly, weekly),” states Safaricom.
“You will also be able to view the total set budget amount against M-Pesa balance, all existing subscriptions and their due dates and transactions history on the mini-app.”
Under the new feature, customers will incur zero penalties for canceled or failed standing order transfers that may occur due to insufficient balance.
They will also be able to set how long the standing order shall be in place, and pause or revoke the order whenever they wish to do so at no extra fee.
“Transfers will be effected automatically if one has sufficient funds in their M-Pesa,” Safaricom states.
The Benefits
M-PESA Ratiba service offers the following benefits:
- Fairly easy, quick, and transparent setup process.
- Automate as many recurring transfers and payments as you wish, and free up time in your day and space in your lists of obligations to remember.
- Make timely payments and avoid penalties and embarrassments from delinquent payments.
- Service is available from all types of handsets, whether it is a feature or smartphone.
- Incur no penalties for cancelled or failed standing order transfers that may occur due to insufficient balance.
- Set how long the standing order is in place for, and pause/revoke the order, whenever you wish at no extra fee.
Types of M-PESA Ratiba Offers
There are two types of offers on M-PESA Ratiba modes:
1. My Subscriptions
This pre-authenticated by the customer on bill creation – Transfers will be effected automatically if one has sufficient funds in their M-PESA wallet.
2. My Reminder
The customer will set a reminder via the M-PESA Ratiba mini-app but will have to initiate and complete any transaction manually. No automated deductions shall be done. The customer will be required to turn off the automatic payments as indicated below.
Advantages of M-Pesa Ratiba
- Enjoy the convenience of easy transfers from your account any time.
- Lowers the risk associated with handling cash.
- Make easy payments through M-PESA with the cash withdrawn
