M-Paya launches to help merchants accept mobile & digital money

M-Paya is a new payments platform aimed at enabling SMEs to accept mobile and digital money as a form of payment and thereby deepening financial inclusion and enabling a cashless society.

Run by Kenya’s Empire Microsystems, M-Paya also aims to offer its SME merchants instant mobile-based unsecured transaction-based loans in a move to grow their businesses and enhance their livelihoods and those of their families.

According to the firm, M-Paya Credit is an instant emergency loans targeted at MFI and SACCO members. M-Paya Merchant Cash Advance offers quick business cash advance to SMEs with no need for collateral – even to those with a lower credit score. For efficiency, the Cash advance service is approved in less than 48 hours and involves little paperwork.

The M-Paya mobile lending service through the M-Paya mobile wallet the enables Sacco’s to lend small amounts of cash advances to their customers as well as offer other consumer services such as prepaid electricity, airtime, and insurance as new revenue streams.

For retail firms, M-Paya has M-Paya SmartCash Handling service that turns retail cash deposits into same-day bank deposits.

“Retail locations insert their cash into a secure safe that verifies and counts the cash, the next business day the deposit is electronically transferred to the bank account of their choice,” says the firm. The firm adds that retail firms need not change banks as their deposits are wired to the bank of their choice every banking day. Merchants need not count cash all the time as the safe counts it accurately,every time. The firm also says the service reduces Armored Pick-ups thereby helping firms increase their productivity and safe time and money on administrative services.

Most Read Today

Find DHgate android tablet pc for sale online Tutu App
Tutu App
dice designs
To Top