Free sh.1000 M-PESA transactions to end in January

An M-pesa shop. The waiver on mobile money transactions of up to sh.1000 will expire in January./COURTESY

You will have to pay normal M-pesa charges from January.

Central Bank of Kenya has said the waiver of fees on mobile-money transfers below sh.1,000  will cease from January 1st 2021.

CBK however noted that there will be no charge for person-to-person transfers of up to sh.100 to any customer and network.

A statement released on Thursday indicated that charges for transfers between banks and mobile will remain.

“Following consultations with Payment Service Providers (PSPs), CBK will allow the emergency measures to expire on December 31, 2020, and PSPs will introduce revised pricing structures from January 1, 2021,” the Central Bank said.

On March 16, 2020, CBK announced emergency measures to facilitate increased use of mobile money transactions instead of cash, to help mitigate the spread of COVID-19.

The measures ran until June 30, 2020, and were extended until December 31, 2020, after a review.