Safaricom PLC and KCB Bank Kenya launched Fuliza ya Biashara yesterday, a service that will allow Lipa Na M-PESA business owners to complete payments even when there are not enough funds at the cash register.
Fuliza ya Biashara applies when transactions are made from the Lipa Na M-PESA business cash register to other cash register numbers and PayBill numbers, when money is sent to individuals, and when withdrawals are made from designated numbers or agents will be
Fuliza Ya Biashara Fuliza Service will facilitate overdrafts of up to KSh. 400,000 yen for 24 hours without interest. This service is currently available on the M-PESA Business App and Lipa Na M-PESA Transacting Till (*234#).
“We believe the launch of Fuliza Ya Biashara will give entrepreneurs the leeway to expand their businesses without the risk of not meeting some of their critical needs, such as paying suppliers,” Kimtai added.