Safaricom rolls out M-Pesa overdraft facility to all its users

What you need to know:

  • Rollout of the overdraft facility to the firm’s 24. 2 million M-Pesa users follows a successful pilot programme in November last year.
  • It also comes at a time when M-Pesa and data services helped buoy its half-year net earnings by 20.22 per cent to Sh31.5 billion, underlining the importance of capitalising on its mobile money services to grow revenues.
  • Fuliza is the latest innovation by the firm as it seeks to leverage on M-Pesa to generate additional revenue for Safaricom.

M-Pesa users can now send money or pay for goods and services when they have insufficient balance in their accounts after Safaricom #ticker:SCOM rolled out Fuliza to all subscribers on its mobile money platform over the weekend.

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