Safaricom Monitoring Use of Free M-Pesa Transactions Offer

Wednesday, November 9, 2016

Safaricom has revealed that it is watching the use of its new M-Pesa Kadogo offer of free transactions for amounts of less than 100 Ksh in order to determine whether a limit should be imposed on the number of transactions per user. The mobile operator introduced M-Pesa Kadogo during the release of its unaudited half year 2017 results (for the period ended September 30 2016).

“Delivering our financial inclusion agenda remains at the core of our strategy to transform lives. To further deepen the financial inclusion and in response to our customers’ feedback, we have reviewed charges for person-to-person and Lipa Na M-Pesa transactions under Kshs100. Under the “M-Pesa Kadogo” it will be free to send values of KShs100 and below. We have done this to empower the people who support this company the most – the mama mbogas, the small businessmen and the micro agents who form our network. We shall continue to grow the adoption of savings and uptake of loans through M-Pesa, and grow cashless business payments and transactions,”Safaricom explained in its announcement.

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

digital payments, financial inclusion, fintech