Safaricom waves charges for M-Pesa users

Tuesday 17 March 2020 09:35 CET | News

Safaricom has decided to waived charges for M-Pesa, so the mobile money service will now pay zero fees for transfers below USD 10.

Safaricom, the owner of the mobile payment platform, said all person-to-person transactions below the mark will be free for the next 90 days (three months) for its about 27 million monthly active subscribers.

The decision also follows a meeting between Safaricom and Central Bank of Kenya governor Patrick Njoroge, together with other industry players. The dialogue was focused on the evolving situation around the coronavirus (Covid-19) pandemic.

Following the meeting, CBK approved the increase of daily M-Pesa transaction limits from the current USD 700 to USD 1,500 specifically to support SMEs.

In addition, Kenyans will be able to transfer up to USD 3,000 up from the current limit of USD 1,400 and hold up to USD 3,000 in their M-Pesa wallets.

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Keywords: Safaricom, M-Pesa, mobile money, P2P transactions
Categories: Payments & Commerce
Countries: Kenya
This article is part of category

Payments & Commerce