M-Pesa: Cash Disbursement​​​

M-Pesa: Cash Disbursement  

Companies need to distribute funds as salary, incentives, reimbursements or ad-hoc payments to their employees or channel partners and Vodafone’s M-Pesa™ solutions has stepped up to make this easier.

First an M-Pesa account is created for the business. This account allows the business to convert funds from its business bank account into digital money via NEFT/ RTGS. The account comes with a portal which lets the business process transactions and check them as well.

For making payments the company does an RTGS and receives balance in the M-Pesa account. The details (mobile number and amount) as an excel file are uploaded into the M-Pesa portal. This will debit the company M-Pesa account and credit to each of the recipients as specified in the excel sheet. The recipients can visit a nearby agent and withdraw cash. Funds are received by the recipients in a matter of minutes, with SMS intimation. The SMS can be customized by the company. Failed transactions, if any, can be checked on the portal.

Issues in cash disbursement M-Pesa solution
Non-payment/delayed payment leading to dissatisfied employees Instant transfer using M-PesaTM to mobile wallet of employees
Ad-hoc payments need to be made in cash and increases monitoring costs Ad-hoc payments made easy by voucher payments to mobile number
Payment to temporary staff involves recurring cost for prepaid cards No additional cost since no cost involved by company in prepaid cards
Prepaid cards are restricted to 150,000 rural penetration specific bank ATMs with poor semi-urban/rural penetration Option of cash withdrawal at over 120,000 M-Pesa™ outlets, 60% of which are in rural areas
Card lost in transit/usage issues resulting in dissatisfied staff Direct credit to mobile wallet and hence no service issues
Company employees carry cash to remote locations Digital money is received into the handset and cashed out at the M-Pesa outlets in the village with minimal risk to life or cash.

M-Pesa™ Success Stories

Jaipur Rugs - An exporter of rugs can now easily pay its weavers from different rural parts in India.

ConAgra Foods - An FMCG distributor now transfers incentives to its sales staff without a middleman and with greater transparency.

So, let’s make you a Ready Business.

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