Kenyan business owners operating in the informal sector will be able to separate business and personal funds on M-Pesa with a new feature on the money transfer service.
Dubbed Pochi la Biashara, the feature allows the business owners who do not have a Lipa na M-Pesa line to receive money from customers into a separate wallet.
“Business owners will be able to separate their business funds and personal funds allowing them to use business transactions to make better business decisions,” said Safaricom.
On the new product, customers will make payments directly to the business owner’s Pochi la Biashara by dialing *334# from their M-Pesa line.
“We plan to Go Beyond to new frontiers, be more present, more world-class, and enable new platforms to launch our SMEs into greater possibilities,” Safaricom CEO Peter Ndegwa said.
“We’re going Beyond for a Digital Kenya, where we’ll deliver digital solutions and the best network experience to our customers; and further Go Beyond for Kenya’s SMEs, to empower them to run their businesses digitally through enhanced financial services,” he added.
The telco also announced the aggregation of all M-pesa services in the new USSD *334# for all users.
“We aim to evolve M-PESA Africa into a lifestyle platform and a universal payment network for the continent and in new frontiers in agriculture, health, and education.”