Everything You Need to Know About M-Pesa

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Did you use M-pesa today? When buying breakfast, paying the electricity bill, water bill, or sending money to your friend. Almost every Kenyan above 18 has made m-pesa part of their life. Not a day can go by without a few Mpesa transactions.

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However, as your transaction partner, how much do you know about M-pesa?

What is M-pesa?

Mpesa is made up of two words, ‘M and ‘Pesa’; While Pesa is a Swahili name for money, M means mobile. In a concise term, Mpesa is a mobile service that offers a tone of services from sending money to savings and loans through a sim card.  It is convenient and fast way to transfer money through mobile phones, and one of Africa’s most successful mobile money services!

M-Pesa Services

International airtime transfers

  • You can buy airtime for your friends and family out of Kenya through mpesa. Whether in Uganda, South Africa, or China!
  • To send airtime, just dial *840#, enter your physical address, and accept the terms and conditions.
  • You will then receive a message to opt-in by entering your Mpesa pin.

Mpesa PayPal services

  • PayPal collaborated with Safaricom Mpesa to increase PayPal transactions. Now you can send money from mpesa to PayPal and withdraw money from PayPal to mpesa.
  • Requirements are as simple as a Google account, email address, smartphone, and a mpesa account.
  • The transactions cost always depends on the amount in question.

Lipa Na M-pesa

  • Lipa Na Mpesa is convenient and efficient for business owners. It offers three primary services:  buy goods and services, pay Bill and Pochi la biashara.
  • If you are a business owner with a till number, you can sell airtime and get a commission!

International money transfer organization & M-pesa

  • M-pesa has partnered with several international money transfer organizations, which allow M-pesa customers to conduct transfers globally.
  • You can receive money from IMTs as long as you have M-pesa registered number and also from the following:
  • sky Forex
  • post finance
  • Xpress money
  • western union
  • Xendpay
  • world remit
  • skrill iT

M-Pesa Chama account

  • To open the mpesa Chama account, visit a Safaricom shop and fill out an application form.
  • As a group, you must have a representative who will use their national id and KRA pin to register the account. The Chama must have a certificate, and everyone in the group must give the go-ahead.

Mpesa Global

  • This fantastic service allows you to send money globally to phone numbers and western unions (except in Syria).
  •  You can also send money to an international bank in Germany and China.

Pochi la biashara

  • This service can be translated as a business pouch. The m-pesa service allows business people to separate their business income from their other source of income or funds.
  • It requires no papers. Whether you are a mama mboga, Boda person, or fruit vendor, you can access this service.
  • This service is convenient in restricting reversals made by not so honest customers. The reverse will require your consent.
  • To join, dial *334# and select Pochi la biashara.

How do I get M-Pesa Statement?

  • Go to your sim tool kit (STK)
  • Click on the the m-pesa option
  • Scroll down to the mini statement option
  • Enter your mpesa pin ( do not share your mpesa pin with anyone)
  • You will receive a message of up to eight or more previous transactions your sim card made.
  • Alternatively, you can get your monthly mpesa statement through USSD;
  • You need a phone, sim card, your mpesa pin, and an email address.
  • Dial *334# from your phone, Select option 7, my account.
  • Then select the mpesa statement,
  • Register for email and accept the terms and conditions to continue
  • Enter a functional email address and verify the request
  • To finalize registration, you will have to verify e email by using the OTP code sent to your email.
  • Dial 334 and choose the confirmation email with the OTP option.

You are done!

Now every month, you will be looking forward to your monthly statements.

Not something to look forward to since you will not be receiving money, but at least you will be financially aware.

List of Countries with Mpesa

Apart from Kenya, Mpesa is widely spread in Africa, primarily East African countries.
In addition, Safaricom is expanding its arms and legs out of the continent. How cool?
1. Tanzania: Vodacom
2. Uganda: MTN
3. Congo
4. South Africa: Vodacom
5. China
6. Germany
7. Egypt
8. Mozambique: Vodacom
9. Rwanda: MTN
10. Lesotho: Vodacom
11. Ethiopia: Vodacom and Vodafone

How does Fuliza works?

  • Fuliza is a mpesa service that allows you to send money even with insufficient funds in your mpesa account.
  • Your Fuliza limit expands every time you pay back on time or earlier than the deadline.
  • Frequent use of Fuliza is also a bonus. You know what they say about loyalty!
  • You can also use Fuliza mpesa as many times as your limit allows. The charges entirely depend on the amount you transact.
  • Unfortunately, you cannot withdraw money from Fuliza.

Fact about Mpesa Services

  • Did you know you could use the lipa Na mpesa options with Fuliza?
  • You can buy goods and services in the supermarket or pay bills while shopping.
  • You can reverse your Fuliza money if you send the money to the wrong number. All you have to do is forward the mpesa message to 456 (Sadly, you cannot reverse the transaction fee)
  • You can still withdraw money at an ATM through mpesa!
  • Most of us are used to agent transactions, but you can withdraw cash from your sim card from the atm. The amount is limited ton20, 000 Kenyan shillings, though.
  • If your partner is out of the country, you can buy them airtime through your mpesa!
  • You can also send money out of the country through Safaricom Tuma popote service.

How can I repay my Fuliza?

  • Fuliza repayment is automatic.
  • Each time you have a Fuliza debt and receive or deposit money to your sim car, the repayment happens automatically. The debt is deducted from your deposits.
    If the money is extra, it will pay the debt, and the rest will remain in your account.
    If the money is less than the debt amount, the Fuliza debt is partially paid.

What happens if I do not pay my Fuliza?

  • You might never have to use the sim card for any other M-pesa transactions since the repayment is automated.
    The interest will keep growing from ksh.1-5 bob; therefore, you will have more money to pay than the initial one.
    Eventually, you are restricted from the service for a month or more when you pay the debt.

What is the maximum money I can transact through M-pesa in a day?

  • You can send as low as Ksh. 1 to any Mpesa customer.
  • The maximum limit is to send 300,000 Kenyan shillings in one day.

Can I cancel international airtime transactions?

  • Unlike other m-pesa transactions, canceling the airtime transactions is not possible. As soon as you confirm the purchase, that is it. No going back.
    Therefore, always double-check if you have the correct number.

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