Safaricom waives fees for M-pesa transactions below sh.1,000

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You will be charged zero shillings for sending M-pesa of up to sh.1,000 from tomorrow Tuesday 17th, March, 2020.

Safaricom PLC has waived fees for M-pesa transactions below sh.1,000.

“M-pesa users will be able to send any amount below sh.1,000 for free for the next ninety days,” said Safaricom CEO Michael Joseph.

You will also be able to transact up to sh.300,000 up from the current limit sh.140,000, and hold up to sh.300,000 in your m-pesa wallet.

The changes come following the directive by President Uhuru Kenyatta to explore ways of deepening mobile money usage to reduce the risk of spreading the virus through physical handling of cash.

The President directed mobile money companies to consider reducing the cost of using mobile money during this period.

“To support this, and in particular small and micro business enterprises SMEs), CBK has also approved the increase of daily M-pesa transaction limits from current sh.70,000 to sh.150,000.

These measures were arrived at following a meeting between Central Bank of Kenya and Payment Service Providers (PSPs) on Monday.

PSPs and commercial banks will also eliminate charges for transfers between mobile money wallets and bank accounts.

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