Safaricom rewards businesses with M-PESA promotion

Safaricom (NSE: SCOM) has launched a promotion that will reward business owners on its Lipa Na M-PESA and Pochi La Biashara services. The promotion comes on the back of increasing adoption of M-PESA services by businesses across the country.

More than 400,000 businesses accept payments through Lipa Na M-PESA up from 170,000 in March 2020 with an additional 2 million small businesses using the Pochi La Biashara service.

“Medium-sized firms and small businesses form the backbone of Kenya’s economy accounting for a third of economic output and employing a majority of Kenyans. In recognition, we are celebrating and rewarding all business owners accepting payments on Lipa Na M-PESA and Pochi La Biashara through our Biashara ni Lipa Na M-PESA Promotion,” said Peter Ndegwa, CEO – Safaricom.

As part of the promotion, all businesses on Pochi La Biashara and Lipa Na M-PESA Business Till will earn 1 point for every transaction of KSh. 50 and above that they receive or pay out for the next 8 weeks.

The points will qualify business owners for weekly draws where they could win one of 128 tuktuks, monthly draws where they could win one of 16 Isuzu DMAX pickups or the grand draw where they stand to win one of 8 Fuso Canters.

The promotion will run across 8 regions including Nairobi, Coast, North Eastern, Eastern, Rift, Western, Nyanza and Mt. Kenya. Each of the regions will award 2 tuktuks every week, 1 pickup every 4 weeks and 1 truck at the grand finale.  

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In addition, all business owners on Pochi La Biashara can redeem their points in exchange for cash at KSh. 1 per point. All business owners will also be rewarded with up to 6 minutes of talk time per day for the first three qualifying transactions.

The promotion comes on the back of Safaricom’s increasing push towards M-PESA solutions for business, especially SMEs and small businesses.

These include the M-PESA Business Till, the M-PESA Business Super App and Pochi La Biashara.

The M-PESA Business Till enables business owners to use their Lipa Na M-PESA collections to make payments and to send money including to other M-PESA Tills such as when paying suppliers, to individuals such as when paying wages and much more. Business owners can equally withdraw to an agent or transfer funds to a bank account.

The M-PESA Business Super App provides entrepreneurs with a real time overview of money coming in and payments made out of their business. They can also make payments through the Business Till feature on the super app.

Pochi La Biashara is a solution aimed at small businesses in where owners accept payments through the M-PESA “Send Money” option. It enables business owners to separate their business collections from their personal funds.