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

Search News

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

Safaricom launches M-PESA bill manager service

Safaricom has launched a new service known as ‘Bill Manager’ that will enable customers to manage and pay bills via M-PESA all in a single transaction.   Read More

BankOne empowers 250 Microfinance Banks

One of Africa’s leading Information Technology platforms for micro finance banks, BankOne, has announced the signing up of its 250th client. Read More

Orange Money in France to allow money transfers to three African countries

Orange Money is available in Metropolitan France to enable Orange mobile subscribers in France to transfer money via their mobile to other Orange Money customers in Côte d'Ivoire, Mali and Senegal. Read More

Dar es Salaam gets Uber

Dar es Salaam has become the 475th city to join in Uber’s growing global network. Read More

Carrefour signs up for Lipa Na M-PESA

Carrefour, the world’s second largest hypermarket chain, has today become the first retailer in Kenya to fully integrate Safaricom’s payments service – Lipa Na M-PESA – paving the way for the retailer to fully adopt M-PESA as a payments channel in Kenya.  Read More

Tigo Insurance pays 10,000th claimant

Tigo Ghana says it paid over GHS 6.2 million to policyholders since the inception of Tigo Insurance in 2010. This was revealed during the presentation of a payment to its 10,000th claimant. Read More

Uber signs MoU with Ghana’s Transport Ministry

Uber, a technology company that connects riders and drivers at the touch of a button, has signed a memorandum of understanding with Ghana’s Ministry of Transport. Read More

Safaricom set to rival Uber with LitteCabs

In a move aimed at giving Uber a run for its money, Safaricom is in the preliminary stages of introducing its own tax app - LittleCabs. Read More

Uber launches in Accra

Uber has officially launched its taxi app in Ghana’s capital city Accra. Read More

M-PESA customers to access money through Equity Bank ATMs countrywide

Equity Bank has partnered with Safaricom to launch a new mobile money transfer service that will see M-PESA customers access money from the bank's automated teller machines throughout the country. Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor NetworksEricssonTigo Ghana

FEATURED STORY

Government should encourage youths in ICT earlyGovernment should encourage youths in ICT early

Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.

IN DEPTH

IBM Opens First Cloud Data Centre in South AfricaIBM Opens First Cloud Data Centre in South Africa

IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.