M-Pesa is a secure mobile money transfer, and microfinancing service. It is a Safaricom product that facilitates money transfers via phone and was launched in 2007.
M-Pesa Agent Requirement
As any other business or job in Kenya, there are requirements or qualifications for one to become an M-Pesa Agent. The first requirement to become an M-Pesa agent is to have an aggregated M-Pesa sim card. To get the sim card, register with an authorized Safaricom dealer. Below is a simple guideline on the requirements you ae required to meet to become an M-Pesa Agent:
- You must have a registered limited company that has been operation for the last six months.
- Have at least three outlets operating under a registered limited company
- Pay the amount charged by the Safaricom M-pesa dealer to acquire the Sub agent aggregated till line
- As an agent, maintain a minimum float of Ksh.30, 000 for the M-pesa till line
- To provide your details such as your full names, national ID and contact information etc.
- A certificate of good contact and its ID of the operator should be provided.
- The details of the business including the name
- Any other equipment or item necessary to conduct the business like desks, chairs, stationary, pens etc.
M-Pesa Sub-Agents
The Sub agent gets 80% of the earnings while the Agent receives 20% from the sub agent’s earnings. The sub agent also loses control over the float since the agent manages it.
Sub agent requirements and application
- The following are the requirement to meet before being issued with the M-Pesa line by a Safaricom M-Pesa agent or dealer.
- You must provide Safaricom with the permits for all your outlets to get an M-Pesa line.
- You must also provide Safaricom with police clearance, banking license from a reputable financial institution and tax certificates.
- Your national ID
- M-pesa minimum float of Ksh. 20,000
- Once you present all the required requirements, you will need to fill in an application form for your M-pesa agent head office.
- You will then get an M-Pesa line that you will be using.
M-Pesa Agent application
Once you have filled and submitted your forms Safaricom will review them. You meet all the requirements you will be given a till number that you will use.
M-pesa Agent Commission
| Amount (transaction band) | Deposit commission in Ksh. | Withdrawal commission in Ksh. |
| 50 – 100 | 4 | 5 |
| 101 – 510 | 8 | 8 |
| 511 – 1,010 | 9 | 10 |
| 1,011 – 1,510 | 10 | 12 |
| 1,511 – 2,510 | 11 | 15 |
| 2,511 – 3,510 | 12 | 20 |
| 3,511 – 5,010 | 14 | 25 |
| 5,011 – 7,510 | 20 | 30 |
| 7,511 – 10,010 | 28 | 35 |
| 10,011 – 15,010 | 40 | 45 |
| 15,011 – 20,020 | 55 | 60 |
| 20,021 – 25,020 | 71 | 65 |
| 25,021 – 30,020 | 87 | 70 |
| 30,021 – 35,020 | 103 | 70 |
| 35,021 – 40,020 | 119 | 100 |
| 40,021 – 45,020 | 135 | 150 |
| 45,021 – 50,020 | 150 | 180 |
| 50,021 – 60,020 | 190 | 200 |
| 60,021 – 70,000 | 190 | 200 |
