2021 is a year that is experiencing a major shift for businesses in Kenya and globally. For instance, businesses are now investing more on online transactions through tools such as MPESA API to counter the effects caused by the Covid-19 pandemic.
MPesa, initially only sent and received money through mobile between individuals. It has grown to also accommodate transcactions between large and small businesses. They can receive payments online or through mobile. This has grown the Kenyan cashless economy in addition to the credit and debit services from banks.
If you own an online business or want to make online transactions you should know about MPesa API. Learn what it is and it's benefits to your business.
Mpesa API stands for M-Pesa Application Programming Interface. It allows you to have Business to Business services (B2B) as well as Consumer to Business (C2B). Key terms are outlined below.
1. Customer to business – Enables a business website or system to process and record payments by customers made from their pay bills.
2. Business to Business – Provides a simple and efficient way to make payments from your pay bill to another business pay bill from your systems accurately.
3. Business to Customer – Enables a business to make payments to your customers from your system and generate reports.
Let’s take a look at how your business can benefit from using the Safaricom M-Pesa API.
Mpesa API is not limited only to large businesses. It is much more flexible. Small businesses and start-ups that wish to accept payments via Mpesa benefit from it too.
For example, you can use an M-Pesa API in your website or point-of-sale system.
Automated business processes are a fantastic way to make customers happier. They are a key tool in the search for exceptional customer experiences.
You can better serve your customers by looking at customer patterns, behaviors, and listing progress.
The Safaricom Mpesa API allows you to store information about your customers in a database. Therefore, it offers your business the opportunity to reward customers for purchases made. As a result, it makes you more competitive and relevant.
You have learnt and explored the benefits of MPesa API. The next step is to apply for a Mpesa Certificate for your business. The application process can be long, if you need any help contact us for our Mpesa payment and integration services.