Safaricom Limited has partnered with PesaPoint to launch a new service which will enable M-PESA subscribers transfer money from their bank accounts into their M-PESA account via any of the 80 PesaPoint ATMS countrywide.
The new service will allow customers a wider and more convenient opportunity to transfer money from their bank accounts into their M-PESA accounts on a 24 hour basis.
“As part of our agenda to bring financial inclusion to all Kenyans, M-PESA continues to enter into strategic partnerships with both non-financial and financial institutions. We have already partnered with 25 banks and over 95 Sacco’s and MFI’s. With this new service, we will bring on board an additional 12 financial institutions. This brings to 132 the total number to financial institutions linked with M-PESA, “said Betty Mwangi-Thuo, Safaricom’s general manager for financial services.
Speaking at the same launch, Bernard Matthewman, Paynet Group’s CEO said PesaPoint is delighted to continue developing innovative services with M-PESA.
“This new system will leverage the high security payment switch managed by Paynet Kenya, to enable M-PESA customers to access cash from their bank accounts safely on a 24 hour ATM service basis at the cost of a normal ATM withdrawal fee,” he said.
PesaPoint, part of the Paynet Group, is well known for its wide range of innovative services which include cash withdrawals, balance enquiries, mini statements, bill payments and airtime top-up for the widest possible range of customers.
The new service is open to any M-PESA customer with an account with any of the 28 financial institutions on the PesaPoint network which include banks, Saccos and Micro Finance Institutions.
Since its launch in 2007, M-PESA has evolved from a money transfer service to a payments platform that offers among other services salary disbursement, bulk payment services, dividend payment, school fees payments through Lipa Karo, paybill services for utility payment, IMT services in partnership with western union to allow Kenyan in over 75 countries in the Diaspora send money to M-PESA in Kenya, Mini-statement services to name but a few
In March 2012, M-PESA won the best product initiative and service for the underserved segments award during the 17th Global Mobile Awards held during the GSM Association’s Mobile World Congress in Barcelona, Spain for partnering with Grundfos to provide water to the marginalized communities in semi arid areas of Eastern province. The main goal is to use technology to provide clean and healthy water affordably and conveniently.
PesaPoint was founded in March 2005, with the vision to provide Kenyans easy access to their funds wherever and whenever they required it by providing convenient ATM locations countrywide.
Today, through the integration of financial institutions, the PesaPoint network has grown to over 550 ATM’s and 1,200 POS countrywide where Kenyan’s may easily and conveniently access a range of services including cash withdrawals, bill payments, credit and withdraw cash from their mobile money accounts, and balance enquiries.
PesaPoint continues to grow its services and reach to create a countrywide network of convenience for both the banked and mobile money customers. PesaPoint is part of the Paynet Group which also comprises of Paynet Kenya and EFT Kenya.