Going cashless in Kenya is the new normal given the high mobile phone penetration and the rising banked population.
Businesses are now turning to online money transfer systems as the primary way for their customers to pay for small transactions.
While many businesses have adopted the M-Pesa Till and paybill numbers and the Pochi la Biashara services, others are shifting to direct money transfers to their bank accounts.
This has been helped by the rollout of various online payment solutions by banking institutions among them bank paybill numbers to allow businesses to receive payments seamlessly into their bank accounts.
One of the primary reasons why businesses are adopting bank paybill number is due to the fact that it can improve a business’s credit score, leading to higher credit facilities from the bank at a time when access to credit is becoming a major challenge for businesses.
The Co-operative Bank of Kenya paybill number is one of the payment solutions you need for your business.
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Through Co-op Bank Mpesa paybill, businesses are able to receive instant payments from customers and the money automatically reflects on their Co-op Bank account.
Additionally, the account holder is able to access the money anytime through the lender’s mobile banking platform, ATMs, Co-op Kwa Jirani agents, internet banking, and at the branch.
Those that have subscribed to the MCo-op Cash SMS notifications are notified of any transaction via text. The Mpesa paybill Number is 400200 but one has to make an application first before starting using it.
The paybill number has proven successful in making payments and some customers prefer using it other than going to make withdrawals first before making payments.
To apply visit the Co-op bank website through this link https://msme.co-opbank.co.ke/business-solutions/
Other than Mpesa paybill Number, businesses can use the MCo-op Cash, POS/PDQ machines as well as Bank Cards to receive payments from their customers.
