PayBill is a cash collection service that allows your organisation to collect money on a regular basis from your customers through M-PESA.
Key Benefits of PayBill Service
- Real time settlement
- Low cost
- Easy reconciliation
Uses of the PayBill Service
- Utility bills – water, power, Pay TV.
- Rent payments - Lipa Kodi
- School fees payments - Lipa Karo
- Bank/SACCO account deposits
- Statutory payments - NHIF, NSSF, KRA
- Top up of pre-pay cards - fuel cards, debit cards e.g. Nakumatt Global.
Features of PayBill Service
- Has head office and unlimited number of child PayBill accounts
- Each child PayBill account has a different name and short code
- A business terminal can be attached to each sub account and receive notifications of Payments
- There is allowance for Account number for each child account
- Web access and settlement of funds to Bank can only be done at Head office
Use Cases of PayBill Service
- Banks aggregate payments for merchants that Bank with them
- Cashless Distribution where distributors require account number details e.g. invoice numbers
- County Revenue Collection – set up different PayBill accounts for the different revenue collection points, but centralize banking