NAIROBI, Kenya, March 4 – National Social Security Fund (NSSF) Beneficiaries can now contribute directly into their NSSF accounts through M-Pesa.
This has come about with NSSF and M-pesa developing a cashless system in their operation in all NSSF branches across the country.
“The platform we are introducing will help enhance member experience and make the process effortless. The public expectations and demands are extremely high in the new role as a pension fund which we intend to satisfy with the new initiatives where more will be rolled in the next few months,” said Chairman Board of Trustees NSSF Dr Julius Karangi.
With the new system, NSSF beneficiaries can now send their contributions and other payments to their account number through the M-PESA bill 333300.
Members can key their NSSF Account Number under the Account Number and complete the transaction without visiting the NSSF office.
“We applaud NSSF for choosing to walk with us in introducing the cashless system. More of our customers are focusing on digitization leading to increased demand to meet their needs. Reducing time spent queuing at NSSF offices and costs incurred will allow NSSF and its members have an easy time when operating,” said Rita Okuthe Chief Enterprise Business Officer Safaricom.
The partnership will enable employers with less than 20 employees to make their staff contributions through M-PESA by uploading their payroll data to the NSSF portal and then generate the Unique payment number as part of their payment order.
The employer then keys in the UPN as the account number under M-PESA.
Mobile payments stand as the most popular means of cashless payments according to central the bank of Kenya.
The pace of transformation in the business sector has increased with more businesses tapping into the potential of using alternative modes of payments to ease cash transaction.