Safaricom has revealed that one of its latest products, M-Pesa Ratiba, has had over 1 million opt-ins in just a month.
M-Pesa Ratiba allows M-Pesa registered customers to set up recurring payments from their M-Pesa accounts to other M-Pesa accounts or to a Lipa na M-Pesa shortcode. Think of this like a standing order that you can set up on your bank account for recurring monthly payments.
With Ratiba, you can automate regular payments including rent, utility bills and school fees through Lipa na M-Pesa payments to M-Pesa Buy Goods, Business tills, and Paybills.
Having over 1 million opt-ins in a month is impressive. Safaricom has also revealed that Ratiba has recorded over 260k transactions so far.
Safaricom has a strong appetite for the financial sector and just recently the Capital Markets Authority (CMA) approved Safaricom’s Ziidi Money market Fund as a Collective Investment Scheme (CIS). For Ziidi Money Market Fund, Safaricom has partnered with Standard Investment Bank, ALA Capital Limited and Sanlam Investments East Africa Limited.
Also Read: M-Pesa Userbase Surpasses 34 Million Users
