, pub-7771400403364887, DIRECT, f08c47fec0942fa0 Goodnews:""Fuliza ya Biashara" will allow "Lipa Na M-PESA" businesses to complete payments even without cash notes.

Hot Widget

Type Here to Get Search Results !

Goodnews:""Fuliza ya Biashara" will allow "Lipa Na M-PESA" businesses to complete payments even without cash notes.

Love gives a gig Nairobi, Kenya, May 4 - Safaricom and Kenya's KCB Bank (KCB) launched a platform that allows business owners to access products on credit.

"Fuliza ya Biashara" will allow "Lipa Na M-PESA" businesses to complete payments even without cash notes.

Lipa Na M-PESA cash transactions registered to credit bureau, other cash collection accounts and PayBill accounts will apply for money transfer to individuals, money transfer to number or representative.

This service will raise funds up to Sh400,000 with a 24-hour interest free period.

"We created Lipa Na M-PESA to make it easier for businesses to receive cashless payments on mobile phones anytime, anywhere," said Peter Ndegwa, CEO of Safaricom.

“With more than 538,000 businesses accepting payments through the service, our strategy is now to go beyond fundraising and give business owners the tools to manage and grow their businesses,” added Ndegwa.

"Fuliza ya Biashara specializes in the needs of small businesses by offering instant, affordable loans of up to KSh 400,000, enabling them to respond quickly to their business needs."

Fuliza ya Biashara is available through M-Use with the PESA Trading App and Lipa Na M-PESA Transaction Record.

Business owners can take overdrafts with a minimum of Sh 1,000 and withdraw their overdrafts up to Sh 400,000 up to their limit.

Refunded from receipt to payment, 2% charge every day for up to 29 days if money is good, more than 24 hours.

The Fuliza ya Biashara limit resets on every refund, giving business owners access to a new limit, including the amount they just refunded.

“This proposition once again signifies the immense opportunities available within the digital ecosystem managed by KCB and Safaricom,” KCB Bank Kenya Managing Director Annastacia Kimtai said.

“We believe that the roll-out of this exciting feature will give Kenyan entrepreneurs the headroom to scale up their business operations without getting into the danger of not servicing some of their critical needs like payments to suppliers,” she added.

“As a partner, KCB will conveniently provide the much-needed support to guarantee scalability and access across its various customer delivery touchpoints.”

The two firms say the facility seeks to bridge the lack of affordable credit among small and microbusinesses, which are categorized as high-risk by lenders.

The solution provides each business with a tailored overdraft limit based on transaction history on Lipa Na M-PESA and repayment history of previous overdrafts.

Fuliza ya Biashara is M-PESA’s first credit solution dedicated to businesses and the latest in a string of innovations targeting business owners on the platform.

Safaricom launched Lipa Na M-PESA Business Till and M-PESA Business App in 2020, allowing businesses to pay via cash collection and provide easy financial management from the app.

More than 390,000 businesses have downloaded the M-PESA business app, and more than 50% of business transactions on M-PESA are done through the app.

Post a Comment

* Please Don't Spam Here. All the Comments are Reviewed by Admin.