Becoming a Safaricom M-Pesa agent is a good thing if you want to earn a stream of monthly cash from commission earned from M-Pesa deposits and withdrawals, or as a company or business, you may want to add M-Pesa services to enable customers easily access your services or products.
To become an M-Pesa agent, you must meet the minimum requirements, depending on the agency type. You will then be issued with an M-Pesa Agent Number (Till) and a Store Number, or several, depending on the agent type.
The Safaricom M-Pesa Agent Number is a unique number that operates on a different SIM card, majorly configured to run M-Pesa agency services.
Basically, you can become an M-Pesa agent in three ways:
Apply directly to Safaricom as an M-Pesa Agent (Standard Outlet)
Aggregated Line Sub-Agent (Sub-Dealer)
Non-Aggregated Line Sub-Agent
As an M-Pesa agent, your work will be to register new M-Pesa users, receive M-Pesa deposits and give out cash against withdrawals.
Become an M-Pesa Agent as a Standard Outlet
This is a principal agent (aggregator) operating several M-Pesa outlets and has the capability to register sub-agents and help aspiring sub-agents to meet Safaricom’s minimum operating requirements.
As a Principal agent, you also get to keep all the commission earned to yourself.
As a sub-dealer, you are required to maintain a minimum M-Pesa float of Ksh. 30,000 on your M-Pesa Till line. You will also be required to avail some documents which include a National Identity card, Certificate of Good Conduct, and Business Name, in order to get the sub-dealer line.
The dealer may charge a small fee for goodwill before you are issued with a sub-dealer agent line.
There are two types of M-Pesa sub-dealers:
1. Non-Aggregated M-Pesa Line Sub-Dealer
You are recruited by M-Pesa agents directly to operate an M-Pesa line that you have no much control over.
The agent fails to register the sub-agent with Safaricom and has all the power in deciding what commission to give you, usually 60% to 80%, but might be lower than this.
In addition, you have no control over your float, and the agent might dig into your float and render you cashless. The agent might also decide that your store is not profitable anymore hence can terminate the sub-agent line without notice.
2. Aggregated M-Pesa Line Sub-Dealer
Safaricom knew the problems sub-agents are facing hence came up with this solution. The sub-agent line is registered directly with Safaricom but aggregated with the principal agent.