Safaricom has launched M-PESA Ratiba, a feature that enables M-PESA registered customers to schedule recurring payments (standing orders) from their M-PESA accounts to other M-PESA users or Lipa na M-PESA shortcodes.
M-PESA Ratiba is available to all M-PESA registered customers through their personal accounts and applies when sending money to other users’ M-PESA accounts or making Lipa na M-PESA payments to M-PESA Buy Goods, Business tills, and Paybill numbers. The service can be used for various services, including rent, utility bills, or school fees.
Types of M-PESA Ratiba
There are two types of offers on M-PESA Ratiba modes:
- My Subscriptions: Pre-approved by the customer at the time of bill setup. Transfers will occur automatically as long as there are sufficient funds in the M-PESA wallet.
- My Reminder: The customer sets a reminder through the M-PESA Ratiba mini-app but must manually initiate and complete each transaction. No automatic deductions will take place, and the customer must disable automatic payments if needed.
Features of M-PESA Ratiba
The two M-PESA Ratiba offers will offer the following services:
- Opting into the M-PESA Ratiba service.
- Creating various types of recurring payments by specifying the transaction type (Paybill, Buy Goods, or Send Money), amount, due date, payment time, and recurrence (daily, weekly, monthly).
- Confirming the created subscription or bill before saving.
- Authenticating with the M-PESA PIN to save the subscription or bill details.
- Deleting existing subscriptions.
- Viewing the total set budget amount, current M-PESA balance, all active subscriptions with their due dates, and transaction history through the mini-app.
Channels of Access
M-PESA Ratiba will be available via:
- USSD *334# on Option 9 – This channel will allow the automatic model only.
- M-PESA Ratiba Mini-App on M-PESA Super App – This channel will allow both automatic and reminder subscriptions.
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Benefits of the M-PESA Ratiba Service
- A quick, easy, and transparent setup process.
- The ability to automate unlimited recurring transfers and payments, saving time and reducing the need to remember multiple obligations.
- Ensures timely payments, helping you avoid penalties and embarrassment from missed payments.
- Accessible from all types of handsets, whether feature phones or smartphones.
- No penalties for canceled or failed standing orders due to insufficient funds.
- Flexibility to set the duration of standing orders and pause or cancel them at any time without extra fees.
Where can M-PESA Ratiba be used?
M-PESA Ratiba can be used in:
- Sending regular upkeep to loved ones.
- Paying workers’ wages.
- Payment of rent, service fees, and mortgages.
- Settling constant utility bills.
- Repayment of loans.
- Payment of insurance premiums.
- Offering tithes.
- Making monthly charity donations, among other recurring obligations.