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Wireless

Kenya resumes charges for bank mobile wallet transactions above KES 100 to support SACCOs

Friday 2 April 2021 | 10:31 CET | News
The Central Bank of Kenya (CBK) has announced the resumption of charges for transactions above KES 100 done via bank specific (in-house) mobile money wallets linked to the Savings and Credit Societies (SACCO) sector. CBK said that the SACCO sector is deeply integrated with these wallets, and accounts for a significant share of their transactions. Through them, banks provide SACCOs with an important bridge to the domestic and cross-border payment systems.

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Categories: Mobile & Wireless
Countries: Kenya
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