Are you starting a business and wondering how to get a till number without walking to Safaricom’s offices in town or even calling them? If you are, then you are in the right place. This article will take you through the process of registering and getting approved for a till number. Before delving into the process, let’s get a few things straight;
What is a till number?
A till number is a short numerical code you are given by Safaricom after registering for it either physically or through their online portal. This code is usually four to ten digits long. It is mainly used for payment whereby a customer doesn’t have to cater for transaction fees as the owner of the business will pay a small commission to Safaricom for every transaction done through the till number.
What are the advantages of having a till number for your business?
- Till numbers are shorter than the average phone number and therefore, payments can be made faster and easier
- Till numbers can be integrated into online e-commerce websites where customers can pay automatically and wait for products to be shipped to them.
- Customers who pay through till numbers cannot do not cater for transactional charges that are usually present in sending money through M-Pesa numbers.
- Business owners are usually charged a small transaction fee, which is usually 0.25% capped at Ksh.200.
- Business owners are shielded from fraudsters who may try to reverse money after buying a product or service.
- Transactions below KES200 are free.
What’s the difference between a till number and a Paybill number?
There is a significant difference between Paybill numbers and Business till numbers you should understand before applying for either. You should not that business till numbers are meant for businesses that aim to retain their customers by cutting back on transaction fees.
Whether you like it or not, customers will always avoid a retailer who charges Ksh.30 without considering if the fee is a transactional charge or not. For that reason, Safaricom created this payment option where the retailer bears the transactional costs instead of the consumer. This has ensured that businesses run smoothly.
On the other hand, Paybill numbers are used by organizations that collect mandatory payments from their customers. For instance, when you want to buy tokens from KPLC, you will use a Paybill number instead of a till number. Other organizations that utilize Paybill numbers are digital television systems, water suppliers and banks when you are paying your loans.
Important to note is that every user usually has a specific account number that links their identity to the money they pay. This makes it easy for companies such as KPLC to generate tokens that are for a specific resident in Kenya, etc.
Organizations using Paybill may choose to split transaction costs with their clients, bear the entire amount or leave the fees entirely to the clients to pay. More often than not, such organizations cannot lose customers as the charges are mandatory by law.
Furthermore, the minimum withdrawal amount in Paybill accounts is KSh.50,000 whereas till numbers can allow withdrawals of as low as Ksh.10.
Here is how to register for Safaricom’s till number for your business
- Download the M-Pesa business app from Google playstore or from the iOS Apple Store.
- Click this link to visit the Safaricom till Number creation website.
- On the website, click on ‘Apply Now’.
- Select the first option (M-PESA Business Till – Buy Goods Till)
- You will have to choose between 4 options i.e., categorized into two main classes; Individual or sole-proprietor. If you are looking forward to using a business name instead of your Identification names, then select the second option. If you can use your name as a business name, then select the first option and continue with the application. Fill in all the necessary details required and submit.
- Safaricom takes around 24 hours to review and approve your application. You will receive the till details via SMS from Safaricom on the line that made the application.
- Next, activate your till using the Nominated number. You have two options for activation:
- Via USSD by dialling *234#, selecting M-PESA Business Till, and entering the store number received in the SMS.
- By downloading and installing the App version, which allows you to directly activate via the App.
- Sign in to the app using your store details, either the store number or the till number. The app offers better visibility of your payment collections and spending, full statements, and the ability to transact directly from the app. You can even manage multiple tills from the same app.
- Lastly, you have the option to receive payment notifications made to your till, sent to your nominated number. Simply contact us on 100 to have your line enabled for payment notifications.
What are the transactional charges involved with a business till number?
|Pay to another Buy Goods Till||0.25 % capped at KES200|
|Pay to a mobile number (B2C)||Existing M-PESA Send Money charges to apply|
|Pay to a utility till (Pay bill C2B)||Standard Paybill charges apply|
|Withdraw at agent||Standard agent withdrawal charges|
|Sell Airtime to customer||Standard Agent Airtime commission rates|