Safaricom cuts fees on low and medium value M-PESA transfers

Wednesday, August 20, 2014

In line with its strategic objective of transforming lives through financial inclusion, leading integrated communications service provider Safaricom has announced a targeted reduction of transaction fees levied by the operator on its most popular person to person M-PESA transaction bands.

The new tariffs, which are set to take effect from Thursday 21st August, 2014, will see transaction fees reduced by up to sixty seven (67%) percent in the low and medium tiered bands which include the transfer of amounts ranging between Kshs 10- to Ksh 1,500. While making the tariff revision announcement, the operator also signaled that it had rationalized the tariffs for sending higher amounts exceeding Kshs. 1,501 to be an average of zero point eight (0.8%) percent of the transaction value.

Source: Biztech Africa (link opens in a new window)

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digital payments, mobile banking, mobile finance, mobile money