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Faster Paybill
Start receiving business payments in a matter of minutes.
Lipa Na I&M Bank
Lipa Na I&M M-Pesa collection solution issues short codes within 2 hours. You can receive a PayBill and unique short codes for each branch, as well as ensure excellent reconciliation and real-time accountability for all receipts.
Unique Selling Points
- Funds are credited directly to the account and are available for use.
- The merchant has the option to request for a collection account separate from the main account, to receive the funds and a sweep is done to the main account at the end of the day.
- The merchant’s customers can use a # and add an additional narrative after the account number when completing transaction.
- For instance: PayBill:542542 , Account Number: 888888#house10
Features
- Zero merchant charges.
- Merchant and payer receive transaction confirmation SMS.
- The Bank will issue the merchant with short codes for each branch.
- Ability to issue different/ multiple short codes for the same collection account.
- Sweeping of funds per short code to the collection account for ease of reconciliation.
- Client able to choose business number of their choice.
- Set up done same day after receiving the application form.
- Portal for viewing transactions both current and historical and generating collections statement.
- Customized reports.
- Branded stickers and tented cards for display at each pay points.
Transaction User Journey
- M-Pesa Menu.
- Select Lipa Na M-Pesa.
- Select PayBill.
- Enter business number (542542)
- Enter the assigned short code i.e., 12345.
- Enter amount then M-Pesa Pin.
- Customer receives SMS confirmation for I&M bank and M-Pesa.
- Email & SMS confirmation is sent to the merchant.
Requirements
- I&M Bank account.
- Duly filled and signed Lipa Na I&M application form
Want more information?
For set-up kindly contact your Relationship Manager or nearest I&M Bank Branch.
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