Safaricom introduces M-Pesa transaction overdraft ‘Fuliza’

What you need to know:

  • The overdraft service — known as Fuliza — that was piloted in October, will enable customers to send money or pay for goods and services when they have insufficient balance in M-Pesa wallets.
  • The telco is betting on the facility — a loan version of Okoa Jahazi for airtime and data bundle — to sustain its business volumes amid fears that steep increases in taxes could slow its growth momentum in the second half of the year.

Safaricom #ticker:SCOM will from next week introduce an overdraft facility for customers after M-Pesa and data services pushed up its half-year net profit by 20.22 per cent to Sh31.5 billion.

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