Safaricom has announced the release of its funds tracking solution, M-PESA SurePay.
The fund monitoring system, M-PESA SurePay, will enable corporate organizations and Public Benefit Organization monitor the way funds are been expended by beneficiaries.
According to Betty Mwangi, General Manager for Financial Services, Safaricom, “M-PESA SurePay allows fund managers to trace the entire value chain right from disbursement to expenditure of the funds, addressing challenges such as mismanagement and misappropriation of funds which are intended for particular causes.”
The solution has already been deployed by the World Food Programme (WFP) in sending food vouchers to five different countries and it has enabled them disbursement of the funds to the beneficiaries and also keep track of how the beneficiaries make use of the said voucher.
M-PESA SurePay is only accessible to organizations that make use of Safaricom’s mobile money solution, M-PESA, for disbursements.
Safaricom also hinted that a new M-PESA platform is in the works and it will have the capacity to process 600 transactions per second, as the current platform supports only 300 transaction per seconds.