Safaricom has announced new M-PESA transaction charges for the year 2021.
Safaricom waived charges for sending money below Ksh 1,000 in March 2020 to ease the impact of the Covid 19 pandemic in the country.
In a statement dated 23 December 2020, Safaricom announced that it would restore charges for money transfer transactions.
Safaricom stated that all transactions below Ksh 100 will remain free, however, those between Ksh 101 and Ksh 500 will cost Ksh 6 down from Ksh 11. Transactions between Ksh 1,501 and Ksh 2500 will cost Ksh 32 down from Ksh 41.
“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.
“As guided by the CBK 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 per cent for lower value transaction bands,” read the statement.
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