Kenyans can now pay school fees on their mobile phone
Online payment gateway PesaPal has launched a new service in Kenya in partnership with mobile operator Safaricom that allows users to pay school fees directly to banks accounts via mobile phone.Named Schoolpay, the service reduces bank fees and facilitates transactions, as the payment is made directly to the schools, which have linked their accounts for a fee of Sh10,000 (€91) per term, Business Daily reports.
The amount is first deposited in PesaPal's or the mobile provider's trust accounts, which are held by Kenya Commercial Bank, Cooperative Bank and CFC. It is then transferred to the school.
Agosta Liko, chief executive officer of PesaPal, told the news source that Schoolpay will enable over 30,000 secondary and primary schools in Kenya to go hi-tech by receiving and managing mobile payments from parents electronically.
The system will allow education establishments to track fees paid through credit cards and enable those who are abroad to pay fees using Visa, MasterCard and American Express.
They will also have the capacity for immediate payment reconciliation and can send invoices, notifications and reminders to mobile phones, according to Ratio magazine.