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|
“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.
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.