To enhance user experience and streamline financial transactions, Safaricom has unveiled standing orders on its M-PESA platform.
Standing orders allow customers to automate recurring transactions, eliminating the need for manual input each time.
This new feature, integrated into the M-PESA app, promises added convenience and efficiency for Safaricom’s vast customer base.
The process to set up standing orders is straightforward. Customers can access this feature through Safaricom’s M-subscriptions mini-app, which is set to launch soon.
Upon accessing the app, users are required to review and accept the terms and conditions before opting in using their M-PESA PIN.
Once opted in, customers can choose from a range of recurring transactions, including money transfers, bill payments, and purchases.
Also read: Safaricom responds to MPESA messages with RIP prefix
For instance, setting up a standing order for money transfers involves specifying the recipient’s name, defining the amount, and selecting the frequency of transfers.
This process can be fully automated, with funds deducted from the user’s account at the scheduled time.
Importantly, automatic deductions only occur when explicitly configured by the customer, ensuring full control over financial activities.
The introduction of standing orders builds upon Safaricom’s efforts to transform the M-PESA app into a comprehensive financial services hub.
Launched in 2020, the M-PESA super app aims to emulate the success of China’s WeChat by integrating various mini-apps. While the initial target was to onboard 100 apps by the end of 2023, only 69 have been integrated thus far.
Despite the progress made, limited smartphone penetration remains a challenge in Kenya. Out of Safaricom’s 43 million customers, only 13.2 million possess 4G-enabled smartphones, highlighting the need for innovative solutions that cater to diverse user demographics.
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