In a bid to allow small and medium sized businesses accept Mpesa payments, CFC Stanbic bank has launched ‘Till2Bank’ – a service which integrates Safaricom’s Mpesa mobile payments system with its banking platform allowing SME’s to receive payments via Mpesa. Unlike normal Mpesa transactions, Till2Bank service enables payments to be loaded directly on client’s bank account rather than Mpesa account. The service utilizes Safaricom’s ‘Lipa na Mpesa’ platform and Kopo-Kopo merchant services. All payments made via Till2Bank will be credited to entrepreneur’s CFC account on demand rather than wait for 24hr-48hr as it is now.
Speaking on the development, CFC’s head of personal and business banking Mr. Adam Jones said they were delighted to be the first bank signing on to Mpesa’s acquiring model and to roll out such capability aimed at easing the burden of periodic banking of cash by its business clients. He also acknowledged the service would minimize risks involved in handling and transferring cash from their businesses to the bank.
How to Get and Use Till2Bank Service from CFC Stanbic Bank
- Customers are required to register with the bank and get a till number by;
- Calling 0711068888
- Sending a text message with the word ‘LIPA’ to 22208 or
- By contacting the bank via email: [email protected]