Safaricom has unveiled M-PESA Ratiba a mobile money platform to allow users establish standing orders directly from their M-PESA wallets.
M-PESA Ratiba enables users to effortlessly transfer funds on a daily, weekly, monthly, or yearly basis to designated beneficiaries, covering various needs such as recurring bills or subscription services.
The launch of this feature signifies a major advancement in the ease of managing finances via mobile devices, particularly for the underbanked population striving for enhanced financial inclusion.
Key benefits of M-PESA Ratiba include a simple setup process and user-friendly features, with no penalties incurred for canceled or failed transfers due to insufficient balances.
Peter Ndegwa, Safaricom’s CEO, stated that they continue to transform lives by delivering differentiated and personalized digital financial services and experiences to our customers.
M-PESA Ratiba will allow customers worry-free digital payments of bills and transactions. We continue to innovate on the M-PESA platform to give our customers more visibility, control and security around their financial wellness.
The introduction of M-PESA Ratiba stands out as the first feature of its kind that facilitates standing orders directly from mobile devices, significantly contributing to a transition towards a cash-lite economy.
The feature enhances financial management for individuals and opens new avenues for subscription services across various sectors, including media, entertainment, software, technology, health, wellness, education, and e-commerce.
Users can now easily set up regular payments for essentials like rent, school fees, insurance, newspaper subscriptions, or even financial support for loved ones.
How To Access M-PESA Ratiba
The M-PESA Ratiba feature can be accessed through the M-PESA App’s Financial Services tab or via USSD by dialling *334# and selecting option 9.
To initiate the process, customers need to review and accept the terms and conditions, followed by opting in using their M-PESA PIN.
They can then manage standing orders to send money to family and friends, pay bills, or streamline purchases for goods and services.
Since its inception in 2020, the M-PESA super app has evolved into a comprehensive lifestyle platform, with over 80 mini-apps dedicated to facilitating payments, savings, and access to credit.
