Members of the National Social Security Fund (NSSF) will now be able to remit their contributions via Safaricom’s mobile money product, M-PESA. This development was made official earlier today when the savings firm hosted the telco at its headquarters. The corporation joins the likes of NHIF that has had the payment service for a couple of years now.
NSSF says that the partnership will play a key role in transitioning its operations to a cashless system that is projected to increase convenience by automating payment services.
“The platform we are launching today, will make contributing to NSSF easy and effortless, We are aware that we have an enormous task ahead in meeting public expectations in our new role as a pension fund and I wish to assure you that the Fund is striving to enhance the member experience and we have a couple of initiatives that we shall roll out in the next couple of months,” noted Dr. Julius Karangi, Chairman Board of Trustees, NSSF.
Payments will make use of M-PESA’s paybill menu via PayBill Number 333300. The account number will be populated by the NSSF account number to complete the contribution.
This implies that members will no longer visit NSSF offices to remit payments.
Furthermore, members can track their payments via an online portal or the organization’s mobile app. New members can also register for the service using the same facilities.
“We are proud for NSSF to have selected Safaricom as a partner in their shift to fully automated and cashless operations. More of our enterprise customers are adopting digitization as they increasingly focus on their customers’ needs. By cutting down on time spent handling and reconciling cash payments, the NSSF and its members can now enjoy the benefits of increased operational efficiency,” noted Rita Okuthe, Chief Enterprise Business Officer, Safaricom.
Organizations with under 20 employees can remit staff contributions using M-PESA. However, employers are required to submit payroll data to NSSF via the aforementioned portal before using the service.