Co-op Bank has officially launched mobile school fees payment service dubbed “M-Karo”. Customers can pay school fees via their mobile phones conveniently and the school will get relieve and flexibility to the tedious school fees paying process.

M-Karo enables parents and guardians to make fee payments directly to school accounts from any location at their convenience. The Bank will then credit the school account with the funds within 2 hours of the transaction, with clear references specified by the parent or guardian. The school on the other hand will get a confirmation receipt from Co-opnet, Co-op Bank’s Internet Banking facility, after which a receipt can be generated for the student or parent as proof of payment.
To fill in the fee collection application form, one requires tohave the school’s Co-operative Bank account number, details of the selected users to be forwarding student data to the bank and their email address’ as well as an authorised signatories to the account who should sign the application form. Filling in an Internet banking application form will require a user account to be created. This form must also be signed by the authorised signatories of the schools bank account.
Speaking during the launch of the product in the market, Co-op Bank, Director of Corporate Banking Tom Kariuki said, “Co-op Bank is the leading financier of education in Kenya and we strive to provide our consumers with innovative products to meet their changing needs and preferences.  Currently, mobile phones have the high ownership and usage in Kenya. As such, we are excited at providing our customers more convenient and hassle-free service, through a medium that can reach millions of Kenyans. “
M-Karo service is accessible through M-Banking Service for Co-operative Bank account holders as well as through M-PESA for all M-PESA registered customers.