As a firm or business, you may wish to add M-Pesa services to let clients quickly access your services or products. Becoming a Safaricom M-Pesa agent is a fantastic thing if you want to generate a stream of monthly cash from commission gained from M-Pesa deposits and withdrawals.
Depending on the type of agency, you must fulfill the minimal requirements to become an M-Pesa agent. Depending on the agent type, you will then receive an M-Pesa Agent Number (Till) and one or more Store Numbers.
The Safaricom M-Pesa Agent Number is a special number that uses a different SIM card and is primarily set up to perform M-Pesa agency services.
Basically, there are three ways to become an M-Pesa agent:
- Apply directly to Safaricom as an M-Pesa Agent (Standard Outlet)
- Sub-Dealer (Aggregated Line Sub-Agent)
- Non-Aggregated Line Sub-Agent
As an M-Pesa agent, your work will be to register new M-Pesa users, receive M-Pesa deposits and give out cash against withdrawals.
Become a Standard Outlet M-Pesa Agent.
This major agent (aggregator) manages a number of M-Pesa outlets and is equipped to register sub-agents and assist potential sub-agents in fulfilling Safaricom’s basic operating standards. You also get to keep all the commission you earn as a Principal agent.
This sort of M-Pesa agency must meet the following criteria:
1. In order to provide M-Pesa services under the same company name, you must have a registered limited company with at least three locations.
2. The business must have been operational for at least six months.
3.Ready to invest a minimum of Ksh. 100,000 float per outlet and another Ksh. 100,000 for SIMEX (SIM replacement cards).
4. The following documents, each approved by the commissioner for oaths, must be provided in both original and copy form:
- Certificate of incorporation
- Form CR12 or an equivalent form valid for the last 3 months
- Copies of IDS of Office Administrators and Primary Assistants as indicated in the application forms
- Completed application forms for agents
- Copies of VAT and PIN certificate where applicable
- Form CR12 or an equivalent form valid for the last 3 months
- List of Outlets
- Completed agent application forms
- Business permits for each of the outlets
- Proof of minimum 6 months trading history
- 6 months company bank statements and letter from their bank
- Original Police certificate of good conduct
Apply to Become an M-Pesa Agent Through an Approved M-Pesa Dealer
Even though you must apply through an authorized M-Pesa Agent, this choice is more cheap. Either a non-aggregated line or an aggregated line sub-agent can be used to register the M-Pesa shop company.
As a sub-dealer, you are expected to keep your M-Pesa Till line float at least at Ksh. 30,000. In order to obtain the sub-dealer line, you will also need to provide certain documents, such as a National Identity card, Certificate of Good Conduct, and Business Name.
The dealer may charge a small fee for goodwill before you are issued with a sub-dealer agent line. Sub-dealers for M-Pesa fall into two categories:
Sub-Dealer for Non-Aggregated M-Pesa Line M-Pesa Employees directly approach you and ask you to manage an M-Pesa line over which you have no control. The agent, who is in complete control of selecting what commission to offer you (often between 60% and 80% but may be less than this), fails to register the sub-agent with Safaricom.
Furthermore, you have no control over your float, and the agent could dig through it and leave you with no cash. The agent may also determine that your store is no longer profitable, in which case the sub-agent line may be terminated abruptly.
Aggregated M-Pesa Line Sub-Dealer
Safaricom developed this solution since it was aware of the issues sub-agents were having. Although it is aggregated with the principal agent, the sub-agent line is registered directly with Safaricom.
On withdrawals and deposits, you receive commissions of 80%, while the principle agent receives 20%. The aggregated M-Pesa Till receives this money directly. Additionally, you have control over your float, and Safaricom handles any issues that arise between the agent and the sub-agent. Keep in mind that you must maintain an active Till line because Safaricom terminates inactive Till lines.
Aggregated M-Pesa Line Sub-Dealer
Safaricom developed this solution since it was aware of the issues sub-agents were having. Although it is aggregated with the principal agent, the sub-agent line is registered directly with Safaricom.
On withdrawals and deposits, you receive commissions of 80%, while the principle agent receives 20%. The aggregated M-Pesa Till receives this money directly. Additionally, you have control over your float, and Safaricom handles any issues that arise between the agent and the sub-agent. Keep in mind that you must maintain an active Till line because Safaricom terminates inactive Till lines.