Applying for a Buy Goods and Services Account
So, you have started a company or a small business, opened a bank account and ready to start making money.
Now you are contemplating on how to receive money other than through bank deposit or cheque.
You remember a friend telling you about how his clients pay him through Safaricom’s Lipa Na Mpesa.
Now you decide that Lipa na Mpesa is your go-to payment solution, but you can’t seem to know the difference between the two options in Lipa na Mpesa.
And you wonder; Do you go for a Pay Bill Number? Or is the Till Number (Buy Goods and Services) best for you?
After a search on Google, you find an article explaining the difference between the two. And finally, you decide to go for the former – Buy Goods and Services.
Main Differences between Safaricom’s Till Number and Pay Bill Number
- For a Till Number, the receiving Company or Business pays for the transaction while in the case of Pay Bill number, the customer pays the fee.
- To access the Pay Bill on M-PESA Menu (Lipa Na M-PESA), you select Pay Bill while Till is accessed by selecting Buy Goods and Services.
- With Pay Bill Number the user has a relationship with the collecting or receiving Company or Organization. One has to enter a Mandatory “Account Number”. With a Buy Goods and Services Number, you don’t need a user “Account Number”.
The next question that bothers you is what you need to register a Lipa Na Mpesa Buy Goods and Services Number for your Private Limited Company. Safaricom center is quite far and you don’t have much commuting time.
While browsing the web for a solution, you come across an article by Treasured Consulting Kenya with a comprehensive list of what you need. It saves you time.
Who can apply for a Buy Goods and Services Account Number
- Sole Proprietors.
- Limited Liability Companies.
- Firms and Partnerships.
- Churches (Branches of main churches can apply for the service too).
- NGO’s (Non-Governmental Organizations).
Requirements for a Buy Goods and Services for a Limited Liability Company.
- A Completed M-PESA Service Application Form and Terms & Conditions – Filled and Signed. (Downloadable Here).
- Company’s and Directors’ KRA Pin Certificates.
- A copy of a valid (30 Days validity) CR12.
- Business photo or Utility bill to confirm its existence.
- Copies of IDs of the Director(s) – National ID, Passport, Military Service Number, or Alien Certificate for foreigners)
- A letter from your bank confirming Company’s account details or canceled cheque in case you wish to link your Till Number to Bank Account.
- A stamped copy of the company’s certificate of incorporation
- A Company sealed/original Stamped Board Resolution letter on a Company letterhead signed by at least two directors of the Company within 30 days stating;
- Authority or go-ahead to open a Buy Goods and Services Number on behalf of the Company.
- Nominated persons/Signatories to the account – Attach copies of their ID.
- Bank Details (In case you intend to link the Buy Goods and Services account to the Company’s bank account).
- The nominated Safaricom Mobile Number for fund withdrawal requests.
After filling the required forms and preparing the necessary documents, you schedule a day to visit the Safaricom center.
On this day, you submit your application for a “Buy Goods and Services Account” and after the approval, you are issued with a number.
From there you call your website designer and request them to update the checkout page with the Buy Goods and Services Option.
After a few days, you starting receiving payments through the platform. Your customers start giving you positive feedback for the convenience.
Your company grows and you become a happy business person!