Safaricom Introduces Faraja – A Loan Service For Buying Goods

Safaricom has launched Faraja, a zero-desire credit history service in partnership permitting prospects to shop for goods up to Sh100,000 and shell out later.

The new mobile provider, purchase now shell out later on is in partnership with Fairness Bank and Edomx Ltd, it lets people to invest in products and products and services from as minimal as Sh20 to a optimum of Sh100,000 and spend the exact same amount of money devoid of any excess charges.

According to Safaricom, one will only be needed to repay the outstanding facility amount of money as sophisticated to you employing the designated Paybill variety or these kinds of other channels as provided from time to time.

Faraja is offered to qualifying M-Pesa consumers with an active Safaricom line, with credit limitations established by credit history viability.

How to join Faraja

To opt-in to faraja, clients will be essential to dial *799#, and pick out Opt in.

How to spend applying Faraja

• Dial *799#
• Find possibly 1. Purchase merchandise and Services or 2. Paybill.
• For Obtain goods, you will be prompted to enter the till variety, amount and M-Pesa pin
• You will get a notification on the results/failure of your transaction.
• For Paybill, you will be prompted to enter the business enterprise amount and account amount, adopted by M-Pesa pin.
• This services necessitates you to enter your M-Pesa pin at each transaction and where by authentication is necessary.