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Mobile & Wireless

Safaricom cuts transaction fees for M-Pesa service

Thursday 1 March 2012 | 10:59 CET | News
Kenyan operator Safaricom announced a major tariff review of its M-Pesa mobile money service, the first since the service was launched in 2007. Safaricom said registered M-Pesa customers will now be able to send and receive amounts as low as KES 10, against a previous limit of KES 50, with charges for transfers costing KES 3. Micro-payments will also be possible from KES 10. In addition, the company lowered the transaction fees for its most popular value band of KES 101 to KES 500. The charge for this band, which accounts for over a quarter of all the transactions on the M-Pesa platform, has been reduced from KES 30 to KES 25. Safaricom said the M-Pesa tariff review also sees the introduction of 11 new tariff bands in a bid to rationalise the previous disparities between transaction amounts and charges levied for the same.

Categories: Mobile & Wireless
Companies: Safaricom
Countries: Kenya
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