Safaricom is set to roll out a new M-Pesa feature that allows shared spending on an individual’s account.
Dubbed Shiriki Pay, the new feature allows an account holder to give another person controlled access to spend directly from their M-Pesa wallet.
The feature is designed to simplify everyday transactions such as household management, business support, or assisting dependents without transferring funds out of the wallet or sharing sensitive login details.
The feature will be accessed through M-Pesa app, Sim Tool Kit, and My Safaricom App.
To get started, the account holder must provide key details, including the authorized User’s phone number, full name, contact information, and any additional verification documents that Safaricom may require as part of its compliance and security checks.
The authorization process is completed through the M-Pesa App and requires the account holder’s PIN, which remains confidential and is not shared with the Authorized User.
Shiriki Pay comes with strict safeguards to protect both parties. Spending by the Authorized User cannot exceed limits set by the Account Holder.
In addition, the authorized user is not permitted to withdraw cash or send money to other individuals. This means that spending is limited to merchants through Lipa na M-PESA (Buy Goods & Paybill) and Pochi la Biashara merchants.
Safaricom further says that an account holder can revoke access at any time, while the authorized user also retains the option to stop using the service whenever they choose. However, transactions already completed through Shiriki Pay cannot be reversed.
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