Starting in February, Public Service Vehicles (PSVs) will be required to use a cashless payment system like Mpesa Paybill or Till gateway for their insurance claims to be approved.
A notice issued by Directline Assurance on January 24, 2024, to brokers, agents, and PSV policyholders states that From February 1, 2024, only PSV vehicles with registered digital payment systems like Mpesa Gateway will receive insurance policies.
This directive emanates from the Insurance Regulatory Authority, and other insurance companies are expected to issue similar notices in the near future.
While long-distance transport companies in Kenya like Easy Coach and Guardian are already using cashless payment systems, many public transport vehicles in Nairobi only accept Mpesa payments, which go to personal Mpesa accounts not linked to any payment gateway or system. On the other hand, most interior public transport vehicles only accept cash payment.
Insurance companies have developed systems or are working with third-party companies to assist PSV Saccos in complying with the directive.
If you are looking for the best mpesa payment gateways, we have published a list on this page.
Leave a Comment