Safaricom Launches Lipa Na M-PESA Cash Back Promotion

BUSINESS Corporate News

Safaricom (NSE: SCOM) has launched a new customer reward campaign dubbed Lipa Na M-PESA Cash Back Promotion.  The promotion is part of the company’s strategic intent to bolster the usage of the Lipa Na M-PESA for retail purchases.

The promotion, which will run for the next two months, will see customers who meet their weekly target receive monetary amounts ranging from Ksh 5 to Ksh 100. Customers can confirm their target and spend by dialing *234#.

“Lipa Na M-PESA already offers a versatile and secure mobile payment solution that provides a seamless customer experience. In addition, customers will now have the opportunity to get some money back in their wallets once they hit their targets”

said Rita Okuthe, Director – Enterprise Business, Safaricom

Customers and merchants have in the last 12 months benefited from a number of enhancements on Lipa Na M-PESA. In May 2017, Safaricom slashed the merchant fees by 50% while also making it free for merchants to accept payments of Ksh. 200 and below. The company has also rolled out M-PESA 1Tap that reduces the number of steps required to make a payment while increasing the accuracy and convenience when paying by M-PESA.

Data from the Central Bank of Kenya shows mobile payments were the most preferred mode of cashless payment in the country in December 2017, accounting for 88% of such transactions.

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