Safaricom has added an approval mechanism for M-Pesa cash reversals, in response to several consumers’ complaints about fraudulent cancellation of transactions before they are completed.
A cancellation of an M-Pesa payment transaction will now be swiftly followed by an automated call from Safaricom to the affected customer with a request to approve or deny the action as the cash is kept by the service provider under the new feature.
When a reverse transaction is approved, the money are returned to the sender, however when a reversal transaction is rejected, both the sender and the recipient must prove their claims.
“Within a few seconds, you will be notified that the transaction reversal has been started, and an update will be shared within two hours. Safaricom will at this point begin engaging the second party, for the reversal.” Safaricom in part indicated on its website.
An SMS to 456 initiates a request for an M-Pesa reversal of cash delivered to the wrong individual. It is necessary to copy the entire M-Pesa message received after sending money to the incorrect person and submit it to 456.
The request for a reversal would then be launched, and an update would be delivered within two hours.
This new function will greatly benefit Kenyans who rely on M-Pesa, particularly company owners, small-scale dealers, and matatu touts. The latter, in particular, have had to cope with a number of dishonest consumers who reverse the transaction shortly after disembarking from the matatu.