Boost ya Biashara
Boost ya Biashara is a credit facility available on the M-PESA Business till. The facility allows business owners to complete transactions, by overdrawing their accounts, when they have insufficient funds in their M-PESA Business tills.
A business owner will qualify for Boost ya Biashara after opting into the M-PESA Business till and must have been active on M-PESA Business service for over 6 months.
All business owners using M-PESA Business will be able to access the service.
No, the facility is for business owners with a stand-alone store, with active stores on M-PESA Business till.
- Dial *234# from nominated number
- Select M-PESA Business Till
- Select Business Loans
- Select Boost ya Biashara
- Accept Terms & Conditions
- Enter Operator ID
- Enter Operator PIN
- Merchants will receive a message confirming that they have successfully opted in and the Boost ya Biashara limit assigned.
Boost ya Biashara can be used only for the following transactions done on the till through the nominated number:
- The Pay to another Buy Goods till
- Pay to a mobile number/customer.
- Pay to a utility (Pay bill) till
- Withdraw to the nominated number.
- Withdraw to M-PESA agent.
After successful opt-in, the business owner will be given a limit that can be accessed when making any of the above transactions when they lack sufficient funds in their till to complete a transaction.
Merchants will receive a notification prompt informing them of the amount they are about to overdraw and action to accept or reject. If they select accept, then the transaction will be completed.
Business owners can use it as many times as needed if they are within the allocated Boost ya Biashara limit.
Boost ya Biashara is payable within 30 days. However, business owners are encouraged to clear their Boost ya Biashara facility as soon as they can.
Boost ya Biashara will charge a 2% access fee for every disbursement and a daily maintenance fee as below.
|
|
Daily Maintenance Fee |
Access Fee for every Disbursement |
|
|
|
Band (KSh.) |
Tariff (KSh.) |
Tariff |
|
1. |
1 - 999 |
0 |
2% |
|
2. |
1000 -2,499 |
12 |
|
|
3. |
2,500 - 5,000 |
30 |
|
|
4. |
5,001 – 15,000 |
50 |
|
|
5. |
15,001 – 35,000 |
150 |
|
|
6. |
35,001-70,000 |
200 |
|
|
7. |
70,001 – 100,000 |
250 |
|
|
8. |
100,001-400,000 |
250 |
|
Minimum of KSh 1 up to the merchant’s assigned Boost ya Biashara limit. hour.
Deductions towards repayment will be made automatically from collections made to the till every 30 minutes of the hour.
The system will keep retrying to recover the payment until funds are available in the till.
The Business owner can query their outstanding balance, Mini statement, and due date via USSD.
- Dial *234#
- Select M-PESA Business Till
- Enter Store Number
- Select Business Loans
- Select Boost ya Biashara.
A Business owner that does not pay their Boost ya Biashara on time will not be able to access the service, their limit will be reduced and eventually, they will be listed on CRB after 91 days of their due date.
Yes. The business owner can use the below steps on USSD to opt out, after settling any outstanding balances they may owe.
- Dial *234#
- Select M-PESA Business Till
- Enter Store Number
- Select Business Loans
- Select Boost ya Biashara.
Yes, Boost ya Biashara is paid back as soon as funds are collected in their business till, business owners should encourage payments via Lipa na M-PESA till to settle their Boost ya Biashara facilities in a suitable time.
Encourage your customers to pay via Lipa na M-PESA, the more you transact the more you grow your limit.
For further inquiries, support, and training requests, you may reach us on:
- Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
- Calling 100 (Prepaid) or 200 (Postpaid)
- Visit Safaricom Retail shops countrywide.
- Twitter: @Safaricom_Care or @SafaricomPLC
- Facebook: Safaricom PLC
- Safaricom website: www. https://www.safaricom.co.ke/
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