Safaricom unveils M-PESA Ratiba for automatic payments
Safaricom has introduced M-PESA Ratiba, a new feature in the cash transfer platform that will enable users to set up automatic standing orders for bills and transfers directly from their mobile wallets.
In an update, the company said M-PESA users can now automate payments with the new Ratiba feature, allowing seamless daily, weekly, or monthly transfers without penalties for insufficient funds.
M-PESA Ratiba will allow customers to open new possibilities in subscription services such as news media and the entertainment industry.
“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,” explained Peter Ndegwa, Safaricom, CEO.
Safaricom said the latest innovation is poised to bring standing orders to the convenience of mobile devices, playing a key role in enhancing financial inclusion among the underbanked population while advancing the country’s progress towards a cash-lite economy.
M-PESA Ratiba will also play a key role in driving subscription services, opening new possibilities in software and technology, health and wellness, education as well as e-commerce.
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With M-PESA Ratiba, you can set up a regular payment for rent, school fees, insurance, newspaper subscription or other standard utility bills payment as well as upkeep for your loved ones.
The service is now accessible on the M-PESA App’s Financial Services tab and on USSD through *334# option 9. To get started, customers must review and accept the terms and conditions, and they can then opt in using their M-PESA PIN.
They can then choose which standing orders to set up, whether for sending money to family and friends, paying regular bills, or purchasing goods and services.
Since its launch in 2020, the M-PESA super app has grown to be a lifestyle app with over 80 mini-apps offering products and services in payments, savings and access to credit. The addition of M-PESA Ratiba reaffirms Safaricom’s commitment to its vision of transforming lives.