Openfloat Biz
Openfloat Biz is a business solution that digitizes petty cash, payroll and corporate bill payments. It enables merchants to disburse funds, pay bills, buy airtime in bulk, book flights & hotels — all in one place. It is a business solution that simplifies a company’s spending on bill payments, travel and cash management. One can disburse funds, pay bills, pay airtime in bulk all on one platform.
How to register
Visit https://www.openfloat.africa/ and click on register.
1. Fill in the details as per the form
2. Click on create Open float account
3. Input/confirm Password. Enter OTP sent to the Ph2one number keyed in to proceed.
Once done an activation email is sent. The merchant is required to upload the required documents i.e. business permit/registration etc. Once uploaded and verified the account will be activated.
How to check an activated account
An activated account should show the account manager and Location i.e. each merchant is assigned an account manager from the Business Development Team. Once the account is active, the merchant may load the float and transact.
How do I load the Float?
Openfloat Biz merchants can load float via M-PESA or Bank Transfers.
M-PESA Top Up
1. Go to M-PESA service on your phone
2. Select Lipa na M-PESA
3. Enter 220220 as the Business Number
4. Enter OPENXXXXX as the Account Number
5. Enter the amount you wish to top up
6. Enter your M-PESA PIN
Once the transaction is complete, the amount will be automatically loaded into your Openfloat account.
Bank Transfer
You can transfer using RTGS, EFT, Check or Counter deposit to the bank account below and indicate 27994 as the reason for payment.
KCB BANK
Bank Name: KCB BANK
Bank Branch: Moi Avenue
Account Name: PESAPAL LIMITED - OPENFLOAT
Account Number: 1271163934
Swift Code: KCBLKENX
EQUITY BANK
Bank Name: Equity Bank
Bank Branch: Dagoretti Corner
Account Name: PESAPAL OPEN FLOAT
Account Number: 1690279564385
Swift Code: EQBLKENA
NCBA BANK
Bank Name: NCBA BANK
Bank Branch: NIC House
Account Name: PESAPAL OPEN FLOAT
Account Number: 1530870208
Bank Code: 07000
Swift Code: CBAFKENX
Submit bank deposit.
Once the float is credited, the merchant may view the Float Balance under the Float Tab.
Float top ups done to a wrong merchant account are recoverable. Reverse/Pull the float from the incorrect account and credit the correct one.
How to make Bill Payments
1. Select Bill Payments, Bill Account
2. Add an account or upload in bulk
3. Once the account is added, select it and click on proceed to pay.
4. The page will be redirected to the payment page as seen below, select Float and complete the transaction.
The merchant may still use the other payments options if they wish to do so i.e. M-PESA (STK Push), card, bank transfer and online.
5. If the payment is successful, an email will be sent to merchant. The merchant may view transactions under reports.
How to make Payouts
1. Click on send money
2. Select either Mpesa, Paybill, Till Number or Bank.
3. Fill in the description, account, amount and proceed to complete the payout. (The merchant may create users who will initiate/approve the payouts under 'My Users')
Users Creation
A merchant (Admin) may create users on their dashboard. The users may have different approval rights.
How to create a user
1. Click on the Main/Primary User’s Profile, Select My Users
2. Add User
3. Fill in the details i.e. Names, Email Address and Phone number, Select the User rights as highlighted on the Right
How to raise a ticket
1. Click on the User’s Profile, select help
2. Click on 'Open a ticket'
3. Fill in the details and submit
Open Float Admin Dashboard
1. M-PESA float top-ups are displayed under the SME Float records. Search using the M-PESA confirmation code.
2. All transactions are displayed on the Open Float admin dash board under corporate transactions. You may filter on various statuses i.e. Payouts, Bill e.t.c.
3. All bill payments i.e. Safaricom, Airtel, Telkom airtime & Zuku are under Pesapal mobile hence you may check them either under the Pesapal Mobile admin (use the Transacting number) or the respective backend (use the reference).
4. You may view/reverse a payout under the Payout tab. Search using the Mpesa Confirmation Code.
How to search Merchant Transactions
1.Search under corporate transactions using the merchant’s name, email address or phone number (The details attached to the account)/Transaction reference.
2. Click on View to see the transaction details.
What is a Disbursement Error?
A disbursement error occurs when a merchant has done a payout and the status is still pending on the dashboard even after approval (Funds have either been released/Disbursed on Mpesa or not). The payouts should be disbursed immediately.
How do I check for a disbursement error?
1. Log in to M-PESA
2. Filter the date and time of transaction. If funds have not been released re-try/if successful manual complete.
Openfloat Biz Refund Process
B2C - Payouts done from the Business (Merchant) to an Mpesa Number
Pesapal has the rights to recover the funds without contacting the client. If the money is intact, we recover it fully. If partially used we contact Safaricom for assistance.
B2B-Payout done from a Business to another Business (Paybill or Till Number)
Send an email to Safaricom to effect the reversal. They have to seek approval from the recipient. Roll back the merchant’s float as per the amount recovered. The refund process for Bill payments is the same as for normal clients.
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