This archive report was first published on 6 December 2019.
M-Pesa Bulk Payment Service: A Streamlined Solution for Organizations ¶
Launched by Safaricom, M-Pesa Bulk Payment service, also known as B2C, enables organizations to make real-time payments to clients' phones. This service is designed to streamline operations and facilitate faster payments to individuals.
Organizations can apply for the bulk payment service in two ways: with the assistance of a Safaricom-authorized sales representative or through a self-onboarding link.
Areas Where M-Pesa Bulk Payment Service is Used ¶
The service is used in various sectors to facilitate fast payments. Some examples of bulk payment M-Pesa transactions include:
- Disbursing cash withdrawals and loan payouts directly to receivers' M-Pesa accounts
- Settling insurance claims
- Sending casuals' payments and disbursement of salaries for companies
- For promotional payments such as cash prizes
- Business payments like daily wages, small purchases, or petty cash
- Payment of annual dividends for companies that are publicly listed
- Disbursement of different workshop and payment funds, per diems, field staff wages, and development or relief funds
Channels Used for M-Pesa Reconciliation and Payments ¶
B2C completes transactions through the following channels:
- M-Pesa G2 system, which requires the installation of an M-Pesa certificate on a Windows computer
- M-Pesa portal for payments, which is web-based and does not require certificate installation
- Application Programming Interface (APIs), which enables the flow of information between systems
Requirements for Bulk Payment Service ¶
The qualifications to use the B2C payment service vary with the nature of the company. However, here are the common must-haves for bulk payment:
- Identification documents of proprietors, directors, and individuals opening the account
- Bank letter or cancelled cheque to ratify bank details
- Certificate of Registration copy for NGOs
- A copy of the application form and terms and conditions duly filled and signed
- Company registration, certificate of incorporation, and KRA PIN for the proprietors, directors, or company
- Utility bill copy
- Company's sealed resolution by the board on letterhead alongside signatures of at least two directors
- Copy of CR12 with a 90-day validity period
- CBK remittance license for international money transfers
- Audited statements of financial position
- Ministry of Education license if it is a private school
- Partnership deed copy
- SAFARICOM AML/KYC completion by Saccos
M-Pesa B2C Charges ¶
The charges for M-Pesa B2C are as follows:
- Transactions between Ksh. 50 to Ksh. 1,000 cost Ksh. 15
- Transactions between Ksh. 1,001 and Ksh. 70,000 will cost Ksh. 22
It's worth noting that the customer receiving the cash will not pay for the service. Additionally, payments can be made to numbers outside the Safaricom network without incurring extra charges.
How to Deposit Funds for Payments ¶
Organizations can deposit funds for payments through RTGS transfer, EFT, cheque, and cash deposits to their M-Pesa corporate account. The account number to use is 0420448007 for CBA Bank and 1147921954 for KCB Bank.
