CC image courtesy of Raidarmax
Kenya’s CfC Stanbic Bank has launched its “Till2Bank” service enabling business clients to accept payments via mobile money.
CfC Stanbic Bank business banking and small and medium enterprise (SME) banking clients can now accept payments via M-Pesa, with the payment landing in the business bank account immediately.
“We are delighted to be the first bank to sign on to M-Pesa’s acquiring model and roll out such capability (on mobile money) that will ease the burden of periodic banking of cash by the business banking clients while minimising the risks involved in handling and transferring cash from their businesses to the bank,” said Adam Jones, head of personal and business banking at CfC Stanbic Bank.
The service utilises Safaricom’s Lipa na M-Pesa platform, and is integrated via Kopo Kopo’s merchant services platform.
In order to start using the Till2Bank service, CfC Stanbic Bank customers must register with the bank to acquire a till number by calling 0711 068 888, SMSing the word ‘LIPA’ to 22208, or by contacting the bank via email on [email protected]