Safaricom drops M-Pesa rates

VALUE ADDED SERVICES

|
Image: By BiztechAfrica
Safaricom drops M-Pesa rates

As the mobile money business grows competitive, Safaricom has dropped its low-end M-Pesa transaction limits and charges.

Safaricom M-Pesa customers can now send and receive as little as Ksh10 (12 US cents) compared to a previous limit of 50 US Cents, for a transaction fee of 3 US Cents.

However, large fund transfers, over Sh5,000, will incur a higher transaction fee than previously.

Safaricom CEO Bob Collymore said the low transaction fee for small transfers was being offset by an increased transaction fee for larger funds transfers, to cater for low-income groups who use the M-Pesa service.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

Airtel Rwanda to introduce Airtel Money micro loans

In a bid to expand reach into mobile financial services, Airtel Rwanda has announced plans to introduce micro-loans on Airtel Money on April 1, 2015 in a partnership with Atlantis Microfinance Limited. Read More

BIC, Orange Money agree on payment service

Botswana Insurance Company (BIC) and Orange Botswana have entered into a partnership which will now enable BIC customers to make their premium payments through the Orange Money mobile money service. Read More

Strathmore, Castalia look to implementation of mobile learning

Strathmore University in Nairobi and Castalia Co of Japan has signed a Memorandum of Understanding to launch a feasibility study of “goocus pro” and “goocus 3”, mobile learning platforms developed by Castalia, starting from April of 2015. Read More

Virtual clinic to help monitor medicine intake in Tanzania

The Vodacom Foundation has donated mobile phones to the Sickle Cell Foundation of Tanzania to support treatment adherence among patients. Read More

Airtel mobile money service now crosses into DRC, Zambia, Rwanda

Bharti Airtel has launched a cross-border money-transfer service for Airtel Money customers between the Democratic Republic of Congo (DRC), Zambia and Rwanda.  Read More

Orange, Airtel enable money transfers between Côte d’Ivoire and Burkina Faso

Customers of Orange Money in Côte d’Ivoire can use their mobile phones to send money to customers of Airtel Money in Burkina Faso, and vice versa.  Read More

KCB, Safaricom launch comprehensive new mobile banking product

KCB Group and Safaricom have launched a new mobile banking product with what they describe as the most comprehensive features yet in the market. Read More

M-PESA: Vodacom Tanzania, Safaricom Kenya connect on transfers

Over 7 million M-Pesa customers in Tanzania and over 18 million Safaricom customers in Kenya can now send and receive money from each other.  Read More

Safaricom launches M-PESA Surepay

Safaricom has announced a new service that will allow organisations to track funds sent to beneficiaries via its mobile money solution M-PESA. Read More

EcoSure hits 1 million users

In just two months, Econet’s insurance service, EcoSure, has registered over one million new customers. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

2bn priced out of internet access2bn priced out of internet access

A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.

IN DEPTH

Villagers get solar training at Barefoot College Villagers get solar training at Barefoot College

The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India. 

COMPANY NEWS

Microsoft 4Afrika launches Biz4Afrika online SME hub

Microsoft 4Afrika used the opening of the Connected East Africa event in Diani, Kenya today to launch Biz4Afrika, an online hub providing Kenyan small and medium enterprises ...