This is an amazing age of technology due to which it is looking like that there is always a way to pay, withdraw or transfer money through any service or device in the best possible way.
Well, this is quite good to know because such kind of service is bringing more convenience and ease in the lives of people. It is because mobile payment services are making it safer and easier for people to send and receive money.
However, when we see in some places then these services are not new. Even if you are going to have a look at the mobile payment history then you will get to know that the MPESA service in Kenya has revolutionized the way of people’s spending, saving and sending money.
Although smartphone payments at the present time are getting more and more popularity in the United States but most interestingly the culture of mobile money is not new for the people of Kenya.
The majority of the population in East African countries have subscribed to an amazing mobile payment service and that is without any doubt MPESA.
This is one of the most popular choices which are people using here for years. More amazingly, MPESA has celebrated its 10th anniversary in the year 2017.
How to Transfer Money from MPESA to Equity bank Using Equity Paybill Number ?
Well, most of the people out there want to know the best way to transfer money from MPESA to their Equity bank account by using Equity Paybill number but do not know how to get done with the process effectively. Well, there is no need to be worried about this anymore. Here is the easiest process to do transfer your money in the best possible way. So, have a look at the step by step process given below:
- Open Safaricom sim toolkit and go to MPESA menu, Click the option of Lipa Na M-PESA. Choose the option of “Pay Bill”.
- Here you will be asked for your Paybill number. You have to enter 247247 that is Paybill number of Equity bank.
- Now enter the account number where you want to transfer amount.
- Then you have to enter the amount which you want to transfer to your selected account.
- Here you will be asked to enter your MPESA pin, enter that.
- Now here comes the step to verify the entire details which you have entered before. This is an important step to pay attention never skip this.
- After confirming the entered information press OK to make your transaction successful.
- After the transaction has been completed successfully, you will receive a confirmation message within a few minutes.
How MPESA has revolutionized mobile payments ?
Well, when it comes to seeing the meaning of MPESA then you must know that the meaning of PESA is money in Swahili. However, the system of MPESA was launched by Safaricom mobile operator of Vodafone in the year 2007.
It was launched as a simple software application of texting payments between the users of this application. However, at the present time, more than 30 million users in almost 10 different countries have been associated with this amazing service.
Even more, an amazing range of services has also been included in this application which is including loans, health provision and international transfers.
Well, this amazing system has processed more than 6 billion transactions in the year 2016 with an amazing peak rate of 529 per second.
Customers can get registered at an authorized agent, more often these agents are small mobile phone retailers and small stores which are quite easier and convenient to access all around the region.
However, here the user has to deposit some cash for an electronic money exchange which he or she can use to send to their friends, family or online payments, etc. with ease.
Once he or she will get registered then all of the transactions can be completed through a PIN securely and both of the parties will receive a confirmation message for the transferred amount.
With these amazing statistical reports, it has become one of the best and most successful mobile money transfer services all around the world. This amazing service is designed in a perfect way to enable the users securely and safely send the money through a basic phone.
Most interestingly, MPESA has also reduced potential risks of burglary, petty corruption within the economies which were cash-based where only a smaller fraction of the population is getting benefit from the reach to conventional financial services and common street robberies.
Even more, MPESA is also lauded with an amazing social value and playing a most important role in the process of reducing poverty.
Although there have been various bumps in the road but the first decade of MPESA has an amazing success history and has won the trust of millions of people around the globe in the best possible way.
And the next state is bringing new and amazing opportunities for the users to experience more convenience hopefully.
Some important things to know about MPESA
Do you want to know some of the most important details of the MPESA account? Well, here is some important information which is highly important for you to know in this regard. So,
- The maximum balance in an MPESA account can be KSHs.100,000.
- Money transfer and withdrawal charges are being applied to every transaction.
- The daily maximum transaction amount is 140,000 while users are allowed for KSHs.70,000 per transaction.
- To transact through MPESA your M-PESA account and Safaricom line must be activated.
- You can’t transfer money directly to someone’s MPESA account from the agent.
- To view applicable charges, you will dial *234#.
These are some of the most important points which are highly necessary for everyone to know.
This is the easiest process to transfer your amount from MPESA to an Equity bank account. The entire processes of money transfer, withdrawal or payment options through MPESA are quite easy to perform.