This year marks the 20th anniversary since the telecommunication giant Safaricom started its operations in Kenya. Over the years, the operator has risen to be one of the largest companies in Africa, and it’s with no doubt that the telco has been able to create products and services that have greatly impacted so many lives here in Kenya and beyond.
As part of the celebrations, Safaricom launched yet another product called Pochi La Biashara.
The new product is targeting business owners who may not have pay or pay bill numbers, but want to separate payments from their personal M-PESA account.
The product is interesting because often, customers usually send cash to personal M-PESA accounts of food vendors, small kiosk owners, boda-boda operators, second-hand clothes dealers, name them, who do not have a business line (Lipa Na M-PESA).
This means that finally, they can receive and separate business funds from their personal account. According to Safaricom, interested business owners can easily sign up; no paperwork is involved.
“Customers can conveniently make payments directly to the business owner’s Pochi La Biashara.. Business owners will be able to separate their business funds and personal funds allowing them to use business transactions to make better business decisions,” reads a statement by the operator.
Similar to Paybill, payments cannot be reversed unless the business owner approves the transaction. At the same time, business owners can choose to sell airtime and earn a 5% commission on value sold.
As we have come to expect, the customers will also have access to mini statements.
Lastly, mobile numbers will not be displayed on M-PESA messages for Pochi La Biashara payments, meaning the business owner will not see personal information such as phone numbers (this has always been an issue with business payments that are made directly to the owner’s personal M-PESA line).
How to use Pochi La Biashara
The business owner needs to dial *334# then choose Pochi La Biashara. Once in, the business owner will be able to see the menu to access their funds under Pochi La Biashara. M-PESA pin is used to authenticate.
For customers wishing to make a payment
- Dial *334#
- Select Pochi La Biashara
- Enter the business mobile number
- Make payment
Charges
The normal M-PESA fees will apply (for sending money) and withdrawal (for business owners).
