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Lipa Na M-PESA PayBill. PayBill is a cash collection service that allows your organisation to collect money on a regular basis from your customers through M-PESA.
Uses of the PayBill Service
- Utility bills – water, power, Pay TV.
- Rent payments – Lipa Kodi
- School fees payments – Lipa Karo
- Bank/SACCO account deposits
- Statutory payments – NHIF, NSSF, KRA
- Top up of pre-pay cards – fuel cards, debit cards e.g. Nakumatt Global.
Features of PayBill Service
- Has head office and unlimited number of child PayBill accounts
- Each child PayBill account has a different name and short code
- A business terminal can be attached to each sub account and receive notifications of Payments
- There is allowance for Account number for each child account
- Web access and settlement of funds to Bank can only be done at Head office
Use Cases of PayBill Service
- Banks aggregate payments for merchants that Bank with them
- Cashless Distribution where distributors require account number details e.g. invoice numbers
- County Revenue Collection – set up different PayBill accounts for the different revenue collection points, but centralize banking
Lipa Na M-PESA PayBill Benefits
Secure
- Safe and convention method to receive payments
Convenient
- No stress no hustle. No need to search for change
Real time settlement
- No delays or waiting for credited funds to reflect
Low cost
- Minimal transaction costs and fees
Easy reconciliation
- Easy to keep track and balance your books
For more information Lipa Na M-PESA PayBill visit official website https://www.safaricom.co.ke/business/corporate/m-pesa-payment-services/lipa-na-m-pesa-paybill
