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Verified 13 September 2026

I&M business banking and payment solutions

By Arnold Ochieng · I&M Bank Kenya hub · paybillke is an independent guide and is not affiliated with I&M Bank Kenya.

I&M's business side splits into accounts, collection and payment solutions, lending and trade finance. The collections stack is the interesting part, because it goes from a simple shortcode all the way to a full API.

Getting paid: four levels

Pick by how much engineering you have, not by how impressive it sounds.

  • Lipa na I&M Bank, a shortcode on paybill 542542 with an Account#narrative reference. No integration needed, works from an invoice.
  • I&M Webpay and the Payment Gateway, for taking payments on a website.
  • Business Connect, for collections at scale with reporting.
  • I&M API Gateway, for wiring payments directly into your own system or ERP.

Also there: Direct Debit Scheme for recurring collections, Remote Cheque Scanning, Cash Management Services, and a dedicated Nairobi Water Services arrangement.

Know what a business account costs to run

This is the thing to settle before you move banking over, and it is covered properly on the charges page.

Money coming in from M-PESA is free. Money going out to M-PESA from a business account is not: I&M's tariff runs a band to KES 65 per transaction. Paying a paybill from the account runs to KES 260, and a till to KES 100.

For a business that collects into the bank and pays suppliers out of it, those outbound fees are the real monthly number. Model your actual transaction pattern before switching, not just the headline that transfers are free.

Borrowing on the business side

Asset finance for vehicles and equipment, and business loans for working capital and growth. Asset finance is secured on the asset, which is what makes it cheaper and also means the asset can be recovered on default. Our asset finance hub covers what to ask and how the structures differ.

Trade finance

For businesses importing or exporting, I&M runs a trade finance desk covering the instruments that manage payment and performance risk between parties who do not know each other. If you are importing, this sits alongside the duty and clearing costs in our import duty calculator for vehicles, or your clearing agent's figures for general cargo.

Foreign currency

If your business earns or pays in another currency, the FX spread is often a bigger cost than any transaction fee. I&M FX Direct and IMX are the tools, and the forex page covers what to ask about pricing.

About this guide

Independent guide. paybillke is not I&M Bank and has no commercial relationship with it. Paybill, USSD and charge details were checked against I&M's own site and live tariff on 13 September 2026. Bank tariffs change, so confirm anything you are about to act on with I&M on +254 20 322 1000 or on the I&M tariff page.

Frequently asked

How does a business collect M-PESA into an I&M account?

Through Lipa na I&M Bank, using paybill 542542 with an assigned shortcode and an Account#narrative reference.

Does I&M have a payments API?

Yes, the I&M API Gateway, for integrating payments into your own systems.

Is I&M to M-PESA free for a business account?

No. I&M's tariff charges a band up to KES 65 per transaction on business accounts. The free position applies to personal accounts.

What does I&M offer for importers?

Trade finance, alongside foreign exchange tools like I&M FX Direct and IMX.