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NEWS
A customer transacts at an M-Pesa Shop. [Courtesy]
Safaricom paid Sh28.2 billion in commissions to M-Pesa agents last year, up from Sh23.8 billion that it paid in 2019.
The company last year recorded Sh82.5 billion in M-Pesa revenue, two per cent lower than the Sh84 billion made in 2019, with the firm attributing this drop to the waiver of fees on cash transfers and Lipa Na M-Pesa transactions of below Sh1,000.
The telco said the first half of the financial year saw an increase in activity on the M-Pesa system as customers took advantage of the free transfers and Lipa na M-Pesa transactions.