Safaricom enhances M-Pesa with monthly statement option

Safaricom has added an extra feature on M-Pesa, enabling customers to access monthly statements, which can be used to apply for credit from financial institutions.

Thursday January 28 2016

A customer prepares to Lipa na M-PESA at an Uchumi Langata Hyper counter on January 27, 2015. Safaricom and MTN Uganda on Monday  signed a partnership deal allowing money transfers on their networks. PHOTO | DIANA NGILA

A customer prepares to use the Lipa na M-PESA service at an Uchumi counter in Nairobi on January 27, 2015. PHOTO | DIANA NGILA | NATION MEDIA GROUP NATION MEDIA GROUP

By LILIAN OCHIENG'
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Safaricom has added an extra feature on M-Pesa, enabling customers to access monthly statements, which can be used to apply for credit from financial institutions.

The service is among the developments brought about by the moving of the money transfer service servers from Germany to Kenya in April last year.

“Every month an average of 30,000 customers visit our retail centres specifically seeking to receive printed M-Pesa statements, as a prerequisite to accessing credit from financial institutions or for business reconciliation purposes,” said Safaricom director, financial services, Betty Mwangi.

She said that on average 9,000 calls are made to the customer centre every month, requesting statements.

More value to users

M-Pesa is estimated to have created value worth Sh133.8 billion to its 22 million subscribers in the year 2015. With the introduction of the statements, available through email, the platform is forecast to be of more value to users.

Bringing M-Pesa home has also enabled the telco to ensure money sent through the platform is received by the right person. Called Hakikisha, the verification code allows senders to confirm recipients before sending.

To access the statements, subscribers dial *234# from their handsets and follow prompts to enter the preferred email address to which they would like their statements sent. Customers have an option of accessing one-off statements for three, six or 12 months in one go.

“The launch of this service is consistent with our strategic focus to make our products and services easily accessible for our customers. We are leveraging on our continued investment in technology to deliver these statements any time the customer needs them,” said Ms Mwangi in a statement yesterday.