Safaricom drops M-Pesa rates


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.

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