Benefits of Mpesa Till Number in 2023
In today’s article, I will show you some of the benefits of Mpesa till number for your business and how it can help boost your business growth. Mpesa was launched in around 2007 as the first Mobile money platform for Kenyans. Since that time, its growth has been tremendous with its popularity growing not only in Kenya but also in Africa and the world.
One Key product of Safaricom Mpesa is the introduction of Till Number services. This Buy Good service enables customers to buy goods from stores and pay for other services offered to them using very simple steps. Since the COVID-19 pandemic, people have decided to go cashless, with many people preferring to pay for services and goods through the use of Mobile money platforms like Airtel Money, T-Kash and Safaricom Mpesa.
It is because of this that I think every business owner should consider getting a till number for their business, or the Alternative which is the Vooma Paybill number or Safaricom’s Paybill. If you are yet to get a till number for your business, click here to read my guide on how to create a mpesa till number for your customers.
In this article, I will be showing you some of the benefits of mpesa till number or a buy goods number for your business;
It offers Convenience
Let us not forget other benefits of mpesa till number like the fact that it offers more convenience to your customers for paying for the goods and services that you offer to them. Unlike in the past, when you had to go around carrying cash, or looking for an ATM machine so that you could pay for goods, you can easily send money with the tap of a few buttons. This is safer than carrying cash around, which put you in danger of being mugged.
Increased sales and revenue for merchants
Let’s face it, most of us have Fuliza or depend on hustler funds sometimes. Mpesa tills allow you to even fuliza, therefore, customers are more likely to buy from your store if you had one. No one wants to go to the extra process of looking for an ATM machine or Mpesa agent to withdraw money when they can just send it.
Till Numbers are Cost Effective.
You do know how much Safaricom and other Mobile Money platforms charge to withdraw money from your account. Till numbers are cost-effective to both the customer and you. The customer is not charged when making the transaction(it is free), except if they are using it to pay for the fuel at a petrol station.
For the merchant on the other hand, you don’t need to buy expensive equipment to set up a till number for your clients. All you need is a Mobile phone to receive the Notifications, and this is cost-effective, especially for small businesses that are just starting up.
Security Is Guaranteed – benefits of Mpesa till number
When using a till number for your business, you are guaranteed that your money, along with the customers is safe. Mpesa ensures there is top encryption for transactions and that the owner’s details are protected. A good example is when you review money sent to you via the Mpesa business application on your smartphone, you will only be able to see the customers’ names, not their phone numbers, therefore privacy is maintained.
Fast Payments and Notifications on Transactions
You will instantly get a notification via SMS when a client sends money for the services you offered them. This will ensure that the customer experience is as smooth as possible. Plus when you have a till number, the client only needs to enter your store number, amount and their pin. This is perfect for anyone, even if they are in a hurry.
Real-time transaction tracking and reporting
As I mentioned earlier, every transaction is instant, and you get notified whenever money is sent to your account. When you need to check your account balance, you can do it whenever you want and are notified anytime cash is withdrawn from your account.
If you are an employer, you can always use the Mpesa Business Application to monitor the money coming in and even get to know who made the sale.
Mpesa Till Number Improves cash flow
Buy goods till improves cash flow within a business or organisation. How is this made possible? Well, when customers pay, the cash reflects in your account, and you can also use this cash to buy more stock, and pay your bills and utilities, such as your electricity bill, water bill and rent.
It also helps in that you don’t have to wait for checks to mature or credit card payments to be processed by your bank.
It is everywhere – benefits of Mpesa till number
No one is left out, whether you are in Nairobi or Nakuru, Rural or urban area or any part of Kenya. Anyone can get a Mpesa till number for their business and it is free of charge. The customer will not pay anything extra for the transaction, and the till transaction fee for the business owner is at a small rate.
I hope I have convinced you why you should get a till number for your business today, if you have any more benefits of the mpesa till number I have not mentioned above, please let me know in the comments section and I will include them as soon as possible. features
Also, read:
5 More Buy Goods Mpesa Till Number elements you should use.
