Safaricom partnership with Co-op bank enables Kenyans to receive M-Pesa payments directly into bank accounts for free

Co-op Bank and Safaricom have partnered to boost ease of doing business in Kenya. The partnership will enable merchants to receive payments done through Lipa Na M-Pesa directly into their Co-op Account at No Extra Cost on the deposits into the Co-op Account.

Merchants will no longer have to retain the money received as payments on their phones since the money will be instantly deposited into their Co-op Bank account.

All businessmen and women need to do to enjoy this service is:

1. SMS the words ‘Lipa Na Mpesa’ plus the location of their business to 16111. The bank will send a representative to them to facilitate in the linking of their Co-op Account with their Mpesa Till Number

2.Send Co-op bank your details and they will contact you. Send details here

Get a loan from business turn over

There are 5 major benefits of businessmen and women receiving their Lipa Na M-Pesa payments via Co-op Bank:

1.Co-op Bank does not charge the merchant for the deposits. So the money is sent into the Co-op Account at No Extra Charge from Co-op Bank

2. Money is received instantly into their Co-op Account

3. The merchant could get a loan from the bank from the business turn over

4. No temptation to misuse the money which would otherwise be on the phone

5. A Co-op Bank representative will go to the business location to help in the set up

For those businessmen and women without a Lipa Na Mpesa till number, the bank representative will also help them get a Lipa Na Mpesa till number then link the till number to their Co-op Account.