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Safaricom new Mpesa transaction tariffs

Following the expiry of the transaction charges relief ordered by central bank of Kenya, Mpesa has announced new Mpesa charges that will take effect come January 2020.

The new tariffs comes with more benefits to the ordinary Mpesa customer as transaction fee on sending money has been reduced on more that 90% of all transactions.

It will now cost Sh6 to send between Sh101 and Sh500, down from Sh11.Transactions of between Sh1,501 and sending Sh2,500 will cost Sh32 down from Sh41.

New Mpesa Transaction charges
MIN MAX TRANSFER TO MPESA USERS, POCHI LA BIASARA AND BUSINESS TILL TO CUSTOMER TRANSFER TO OTHER REGISTERED MOBILE MONEY USERS TRANSFER TO UNREGISTERED USERS WIHTDRAW FROM MPESA AGENT
1 49 Free Free N/A N/A
50 100 Free Free N/A 10
101 500 6 6 45 27
501 1000 12 12 49 28
1,001 1,500 22 22 59 28
1,501 2,500 32 32 74 28
2,501 3,500 51 51 112 50
3,501 5,000 55 55 135 67
5,001 7,500 75 75 166 84
7,501 10,000 87 87 205 112
10,001 15,000 97 97 265 162
15,001 20,000 102 102 288 180
20,001 35,000 105 105 309 191
35.001 50,000 105 105 N/A 270
50,001 150,000 105 105 N/A 300

Also Read:How Much Commission Do M-Pesa Agents Earn Per Transaction? All You Need To Know

 

“As part of different measures to help the country better weather the Covid-19 Pandemic, we announced the temporary zero-rating of M-PESA transactions in March. Our regulator, the Central Bank of Kenya under the leadership of Dr. Patrick Njoroge has been instrumental in the formulation of this and other measures across the financial sector which have resulted in significant gains in the form of the ongoing economic recovery,” the CEO said.

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He added, “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% for lower value transaction bands”.

However, all transaction of Ksh.100 and below will remain

The CEO announced that the new tariffs will remain permanent effective January 2021.

Safaricom has constantly been pushing for the review of the free transaction fees on transactions of Ksh.1000 and below. The giant telecommunication was dealt a blow when CBK extended the period for the free transfers on transactions of less than 1000.

 

 


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