Safaricom PLC has introduced a new payment feature called "Ratiba" on its mobile money platform, M-Pesa. The standing order feature allows users to automate regular payments directly from their M-Pesa wallets, eliminating the need for manual input when settling recurring charges.
The Ratiba feature enables users to set up automatic transfers of funds from their M-Pesa wallet on a daily, weekly, monthly, or yearly basis.
This can be used for sending money to family and friends, paying regular bills, or purchasing goods and services. The setup process is simple and seamless through USSD *334# and the M-Pesa Ratiba Mini-App on the M-Pesa Super App, and there are no penalties incurred for cancelled or failed standing order transfers due to insufficient balance.
The introduction of M-Pesa Ratiba is expected to drive subscription services and open new possibilities in various sectors, including media and entertainment, software and technology, health and wellness, education, and e-commerce.
Ratiba will also play a key role in transforming customer experiences within the financial services ecosystem, allowing users to set up regular payment schedules for rent, school fees, insurance, newspaper subscriptions, and other standard utility bills, as well as upkeep for loved ones.
Safaricom CEO Peter Ndegwa emphasized that the development aligns with the company's commitment to transforming lives by delivering differentiated and personalized digital financial services. The feature provides customers with worry-free digital payments, giving them more visibility, control, and security around their financial wellness.
