M-PESA Agents and Dealers

Responsibilities of an M-PESA Agent

Registration of M-PESA customers
Depositing cash into registered customers’ M-PESA accounts
Processing cash withdrawals for registered M-PESA customers
Processing cash withdrawals for non-registered M-PESA customers
Customer Education
Compliance with Safaricom AML & KYC policy
Compliance with Safaricom business practices
Branding of their outlets as per provided guidelines.

Requirements to Become an M-PESA Agent

The prospective agent must be registered as a LIMITED company or equivalent with at least 3 outlets ready to offer M-PESA under the company name.
The company MUST have traded for a minimum period of 6 months.
Proposed outlets shall be audited prior to the commencement of business.
Only applications for outlets in opportunity areas will be considered.

Below are the attached documents with detailed requirements.

Requirements to Become an M-PESA Agent Dealer

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 agent application forms.

For Agents who do not meet the full requirements of being an M-PESA Agent dealer, should provide the following documents:

Good conduct
Business permit
Identification documents (ID)

Access Channels

The Agent App
Agent SIM Toolkit
M-PESA Organization Portal
M-PESA Dealer Portal for Head offices

Float Purchase Service

Float Purchase for Super-Agents

Super Agents can confirm the KYC details of the operator requesting the float deposit/withdrawal by:

Asking the operator to present their ID and then dialing *234# on the Super-Agent Till

Select M-PESA Agent Services
Select Super Agency KYC
Enter the Agent Number, Enter the National ID (of the operator requesting the deposit/withdrawal
Select SEND.

This will populate the Agency Name, Deposit Limit, Withdrawal Limit, and the Operator Name.

The Super-Agent will verify the details against the ID and proceed to offer the service.

M-PESA float availability/deposit/withdrawal (super agency services) are offered by banks in the following models.

Some banks only offer super agency services to M-PESA agents who have bank accounts with them.

As a result, the agent must have a bank account with the respective bank to receive the services. These banks are:

Co-operative Bank
Diamond Trust Bank (DTB)
Barclays Bank

Exception:

Kenya Commercial Bank (KCB) will offer super agency services to both account and non-account holders, but non-account holders will be able to transact up to KES100,000 per day.

Other banks offer super agency float deposit/withdrawal services to both account and non-account holders. These banks include:

NCBA
Equity Bank
Family Bank
N.I.C Bank
National Bank of Kenya

Consolidated Bank of Kenya
I&M Bank
Spire Bank
Middle East Bank
Credit Bank

African Banking Corporation
Gulf African Bank
Co-op Bank
Housing Finance Co. Of Kenya
Bank Of Africa

Transnational Bank
Jamii Bora Bank
Chase Bank
Prime Bank
UBA

Float Purchase for Sub-Agents

An agent makes a deposit on the M-PESA Trust account – cash, cheque, RTGS, or EFT which is converted to E-money.

When purchasing M-PESA float, the organization will be required to indicate the below information on the deposit slip/EFT/RTGS

The organization’s Head Office Short Code/Business number as the Beneficiary account number
The beneficiary Account name is M-PESA Holding Company Limited.
Beneficiary Bank as Cooperative Bank of Kenya
The cashier/bank agent shall validate organization details using the available channels before crediting the funds.

The agent can also purchase float from a Super-Agent.

M-Pesa Agent Business Loan

Definition

This is a credit facility that is offered to M-PESA Agents.

M-PESA Agents can borrow between Ksh 5,000 to 10,000,000 for their M-PESA Agency.

As an M-PESA Agent, you will be charged a fee of 0.123 % of the total value of the amount requested.

Benefits of M-PESA Agent Business Loan

M-PESA Agents can access credit for working float to enhance their customer deposit.

Eligibility

This service is available for M-PESA Agent Head offices.

M-PESA Agent Business Loan Qualification.

The setting of the Loan limit for the M-PESA Agent Head Office is based on the M- PESA Agent till activity.
You must have been an active M-PESA Agent Head Office for at least 3 months.