If you keep wondering how Mpesa Paybill work, then worry no more as I walk you through the details of the mode of operation of Safaricom M-Pesa PayBill in Kenya and other countries.
How Does Mpesa Paybill Work For Customers
Safaricom Mpesa introduced the pay bill system to enable customers to pay for goods and services through a designated account number.
Mpesa assigns the pay bill number to companies or organizations for them to receive funds from customers.
This means paybill numbers offer a formal relationship between companies and customers.
Mpesa gives these companies pay bill numbers to enable customers to identify individual companies while they are making payments.
The Mpesa PayBill number is mostly used for digital and eCommerce payments, such as purchase goods and services.
You can use the M-Pesa pay bill number for immediate payment for goods and services. Because it is instant and secured, transactions using Mpesa pay bill numbers are quick and very convenient.
That is how Mpesa paybill works.
And it is as simple as that.
There is no relationship between the customer and the company or organization that registers the pay bill number.
Also, the customer does not need to create any new account before using the Mpesa paybill number for transactions.
See also: How To Buy KPLC Tokens Using M-Pesa.
How Does Mpesa Paybill Work For Companies And Organisations
With the Safaricom Mpesa number, companies and organizations can collect payments from customers through M-Pesa.
Because the Mpesa paybill is a money collection service, it allows companies to collect cash from clients on a regular basis through Mpesa.
With the Mpesa paybill numbers, companies and organizations can serve customers much better with easy fund management systems.
Your clients can use the Mpesa paybill service to pay for services on time.
What is more, companies can use the pay bill service to manage single payments as well as bulk transactions.
This is how Mpesa paybill works for companies, institutions, and organizations in Kenya and across the world.
As a company or individual, you can enjoy the convenience, easy fund transfer, and security of the Mpesa paybill service.
Read also: How To Withdraw Money From Your Co-operative Bank Account To M-Pesa.
What Is Short-Term Paybill
The Safaricom Short-Term Paybill is a financial product that allows you to raise funds for different purposes, including but not limited to medical bills, educational purposes, funerals, charity, weddings, etc.
With the Short-term paybill you can use it for a maximum of six (6), and that is why they call it short-term.
Because the duration is short, it takes about 24 hours to get a short-term pay bill number.
Once you get the pay bill number, you can use it through Lipa Na M-Pesa.
Now that you know how Mpesa paybill works for both customers and companies or organizations, you need to register and start your business now.
Recommended reading: How To Pay Jumia Using M-Pesa.