How to Opt In To Safaricom Faraja Loan. The service will enable more than 32 million Safaricom’s customers to buy on credit from businesses on the telco’s Lipa Na M-pesa.
Customers will be able to make purchases of between Sh20 and Sh100,000 at zero interest fees and complete the payment within 30 days.
“Many businesses lose out on sales when a customer would like to make a purchase but lacks money at that point. We are glad to partner with EDOMx to offer Faraja empowering any business to grow their sales by enabling their customers to buy now and pay later,” said Peter Ndegwa, the CEO of Safaricom.
Who can access the Faraja loan?
The Faraja loan is available to all qualifying Safaricom users. However, the subscribers must have an active Safaricom line. The loan limit will be determined by the individual’s credit rating. Unlike Fuliza which allows users to send money, Faraja will only be accessible through Lipa Na Mpesa options – Buy Goods (Till Number) and Paybill Number.
How to Opt In To Safaricom Faraja Loan
1. Dial *799# and select opt in. The service will allow a maximum of two accounts under one National ID.
2. Enter your Mpesa PIN. Safaricom will then send you your credit limit.
