Safaricom and KCB Bank have unveiled Fuliza ya Biashara, which is a service to help business owners on Lipa Na M-PESA to make payments even without sufficient funds.
We launched Lipa Na M-PESA as a way for businesses to conveniently receive cashless payments through their mobile phones, whenever they are. With more than 538,000 businesses accepting payments through the service, our strategy is to now go beyond collecting payments by providing business owners with tools to manage and grow their businesses. Fuliza ya Biashara caters especially to small businesses by providing them with instant, affordable credit of up to KSh. 400,000, empowering them to rapidly respond to their business needs.Peter Ndegwa, CEO, Safaricom
This proposition once again signifies the immense opportunities available within the digital ecosystem managed by KCB and Safaricom. We believe that the roll-out of this exciting feature will give Kenyan entrepreneurs the headroom to scale up their business operations without getting into the danger of not servicing some of their critical needs like payments to suppliers.Mrs. Annastacia Kimtai, Kenya Managing Director, KCB Bank