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M-Pesa celebrates reaching 50 million customers
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Safaricom launches new M-pesa app which comes with an offline mode
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“As guided by the Central Bank of Kenya (CBK), and taking into account the principles on the pricing of mobile money services, we have taken the decision to reduce our M-Pesa tariffs by up to 45 per cent for lower value transaction bands,” said Safaricom Chief Executive Peter Ndegwa in a statement yesterday.
“This is in consideration of the expiry of the period for the zero-rated M-Pesa transactions and the ongoing Covid-19 and economic circumstances.”
Soon after the first Covid-19 case was announced in the country, Safaricom through a directive from CBK waived fees for M-Pesa transactions below Sh1,000 in what was aimed at cushioning customers from the effects of the pandemic.
Safaricom to reduce M-PESA charges for transactions worth Ksh. 2,500 & below
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Safaricom has announced that it will reduce charges for money transfers below Ksh. 2,500 on its mobile money platform, M-PESA, effective 1st January 2021. Charges for money transfers over Ksh. 2,500 will remain the same as will withdrawal charges.
Safaricom has earlier in the year temporarily suspended all charges on money transfers for amounts below Ksh. 1,000 as part of the measures to help Kenyans survive the COVID-19 pandemic. This is set to expire on 1st January 2021.
It will now cost Ksh. 6 to send between Ksh. 101 and Ksh. 500, down from Ksh. 11 previously. Transactions of between Ksh. 1,501 and Ksh. 2,500 will cost Ksh. 32 down from Ksh. 41. All transactions of Ksh. 100 and below will remain free. In addition, all M-PESA customers will continue to enjoy free transactions between M-PESA and bank accounts.
By
Sara Okuoro |
December 22nd 2020 at 17:33:17 GMT +0300
Safaricom has reduced transaction cost between Sh101 and Sh500 to Sh6 from Sh11. Sending Sh1,501 to Sh2,500 will cost Sh32 down from Sh41 while transactions below Sh100 remain free. The new rates take effect from January 1, 2021.
As part of various measures to help the country better weather the Covid-19 Pandemic, the telco announced temporary zero-rating of M-Pesa transactions in March.
“As guided by the Central Bank of Kenya and taking into account the Principles on the Pricing of Mobile Money Services, we have taken the decision to reduce our M-Pesa tariffs by up to 45 per cent for lower value transaction bands. This is in consideration of the expiry of the period for the zero-rated M-Pesa transactions and the ongoing Covid-19 and economic circumstances,” said Safaricom CEO Peter Ndegwa.
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