Safaricom has announced new MPESA tariffs that will take effect staring January 2021, this comes after the regulator showed no interest in extending current relief guidelines that saw Kenyans transact amounts up to Ksh. 1,000 without attracting additional costs. Kenya’s central bank had unveiled new regulations earlier on this year, aimed at cushioning Kenyans from adverse economic effects caused by the covid-19; the move however, negatively impacted revenue from Safaricom which saw reduced income from MPESA during the same period compared to a year earlier.
While announcing the new tariffs, Safaricom indicated they had considered guidelines issued by the regulator when coming up with new rates. The telco said it had reduced new MPESA charges for the year 2021 by up to 45 percent on low value transaction bands in line with the regulator’s guidelines with regard to pricing of mobile money services.
In the new structure which is expected to affect at least 90 percent of MPESA customers, there are notable reductions from what customers used to pay pre-corona period. Sending amounts between Ksh. 101 and Ksh. 500 will cost only Ksh. 6 down from Ksh. 11 and amounts between Ksh. 1,500 and Ksh. 2,500 only Ksh. 32 from previous Ksh. 41. Consequently, transactions less than Ksh. 100 will remain free as well as moving cash between banks and MPESA wallet.
New MPESA Charges for the year 2021
|TRANSACTION||RANGE (KSHS)||TRANSACTION||TYPE AND CUSTOMER||CHARGES (KSHS)|
|MIN||MAX||TRANSFER TO M-PESA USERS, POCHI LA BIASHARA AND BUSINESS TILL TO CUSTOMER||TRANSFER TO OTHER REGISTERED MOBILE MONEY USERS||TRANSFER TO UNREGISTERED USERS||WITHDRAWAL FROM M-PESA AGENT|
MPESA ATM WITHDRAWAL CHARGES
|TRANSACTION||RANGE (KSHS)||CUSTOMER CHARGE KSHS)|
|BUYING AIRTIME THROUGH M-PESA||FREE|
|M-PESA BALANCE ENQUIRY||FREE|
|CHANGE M-PESA PIN||FREE|