Safaricom, Kenya’s leading telecommunications company, has transformed the way its customers make payments with the introduction of M-Pesa Ratiba. This innovative new feature offers a seamless and convenient way to automate regular payments directly from your M-Pesa wallet.
How M-Pesa Ratiba Works
M-Pesa Ratiba allows users to set up automatic transfers of funds from their M-Pesa wallets on a recurring basis, whether it’s daily, weekly, monthly, or yearly. This eliminates the inconvenience of manually inputting payment details for recurring charges.
Types of M-PESA Ratiba Offers
There are two main types of M-PESA Ratiba offers:
- My Subscriptions: This option allows you to pre-authorise payments for recurring bills. As long as you have sufficient funds in your M-PESA wallet, the payments will be automatically processed on the due date.
- My Reminder: With this option, you can set a reminder for recurring payments. However, you’ll need to manually initiate and complete the transaction. There are no automated deductions.
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Features of M-PESA Ratiba
Both channels offer the following features:
- Opting into the M-PESA Ratiba service
- Creating diverse types of recurring payment transactions
- Confirming the created subscription/bill
- Authenticating using your M-PESA PIN
- Deleting existing subscriptions
- Viewing your set budget, existing subscriptions, due dates, and transaction history
Benefits of M-PESA Ratiba
- Convenience: Easily transfer funds between your bank and M-PESA account.
- Security: Reduce the risk associated with handling cash.
- Flexibility: Make payments through M-PESA using the cash you’ve withdrawn.
- Automation: Set up recurring payments for rent, bills, school fees, and more.
- Time-saving: Avoid the inconvenience of manual payments.
- Reliability: Ensure timely payments and avoid penalties.
- Accessibility: Use M-PESA Ratiba on any type of handset.
- Flexibility: Pause or cancel standing orders as needed.
Setting Up M-Pesa Ratiba is Easy
You can set up M-Pesa Ratiba through the USSD code *334# or the M-Pesa Ratiba Mini-App on the M-Pesa Super App. The process is simple and straightforward, making it accessible to users of all ages and technical backgrounds.
Transforming Lives Through Digital Financial Services
Safaricom CEO Peter Ndegwa highlighted the company’s commitment to transforming lives through innovative digital financial services. M-Pesa Ratiba is a testament to this commitment, offering customers a more convenient, secure, and efficient way to manage their finances.
Expanding Possibilities across Various Sectors
The introduction of M-Pesa Ratiba is expected to drive subscription services and open up new opportunities in various sectors. This includes media and entertainment, software and technology, health and wellness, education, and e-commerce.
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A Game-Changer for Financial Services
M-Pesa Ratiba will play a crucial role in transforming customer experiences within the financial services ecosystem. M-PESA Ratiba is ideal for recurring payments such as:
- Sending upkeep to loved ones
- Paying workers’ wages
- Paying rent, service fees, and mortgages
- Paying utility bills
- Repaying loans
- Paying insurance premiums
- Paying tithes
- Making monthly charity donations
M-Pesa Ratiba is a significant advancement in mobile payments technology. By automating regular payments, Safaricom has made it easier than ever for Kenyans to manage their finances and enjoy the benefits of a digital lifestyle.