Kenyans! Safaricom, our beloved telecommunications company, has some exciting news to share. They’re all about making their services more affordable for you during these challenging economic times. How awesome is that?
So, what’s the scoop? Safaricom will be reducing their paybill and business to customer tariffs to give your wallets some much-needed relief. They’re slashing Bank to M-PESA charges by an average of 61%, and M-PESA to Bank charges by an average of 47%. That’s like giving your transaction fees a one-way ticket to the land of “Affordabilityville.” Plus, transactions below 100 Kenyan shillings (KES) will still be free of charge. It’s like Safaricom is saying, “Hey, we got your back, even when it comes to the smallest transactions.”
They’re also reducing the M-PESA to Bank tariffs for all your Paybill payments. That means when you’re paying for utilities like electricity, hospital bills, schools, or even government payments, you’ll be able to do so at a more affordable rate. It’s like Safaricom is giving you a friendly nudge, saying, “We’re here to help you navigate these tough times, my friend.”
These revised tariffs will come into effect on January 1, 2023, so mark your calendars. It’s like a New Year’s gift from Safaricom, ushering in a wave of affordability for their valued customers.
Peter Ndegwa, the CEO of Safaricom, emphasized that these changes are part of their commitment to stimulate economic growth and support customers during these challenging times. They want to help you manage your costs and come out stronger on the other side. It’s like having a superhero on your side, fighting for your financial well-being.
The best part is that these revised tariffs align with the principles set by the Central Bank of Kenya. Safaricom is all about customer-centeredness, transparency, fairness, choice, competition, and affordability. They want to create a market that’s not only beneficial for you but also promotes healthy competition and gives you a range of transparent, fair, and affordable options. It’s like they’re saying, “We’re in this together, and we want to give you the best choices out there.”
2023 MPESA PAYBILL RATES
| Transaction Bands | Business to M-Pesa Tariff (B2C) | M-Pesa to Business Tariff (C2B) |
| Min | Max | Current (B2C) | New (B2C) | Current (C2B) | New (C2B) |
| 1 | 49 | 15.27 | 0 | 1 | 0 |
| 50 | 100 | 15.27 | 0 | 2 | 0 |
| 101 | 500 | 15.27 | 4 | 23 | 4 |
| 501 | 1,000 | 15.27 | 4 | 23 | 9 |
| 1,001 | 1,500 | 22.4 | 4 | 35 | 14 |
| 1,501 | 2,500 | 22.4 | 8 | 35 | 19 |
| 2,501 | 3,500 | 22.4 | 8 | 56 | 24 |
| 3,501 | 5,000 | 22.4 | 8 | 56 | 33 |
| 5,001 | 7,500 | 22.4 | 10 | 85 | 40 |
| 7,501 | 10,000 | 22.4 | 10 | 85 | 46 |
| 10,001 | 15,000 | 22.4 | 10 | 113 | 55 |
| 15,001 | 20,000 | 22.4 | 10 | 113 | 60 |
| 20,001 | 25,000 | 22.4 | 12 | 113 | 65 |
| 25,001 | 30,000 | 22.4 | 12 | 113 | 70 |
| 30,001 | 35,000 | 22.4 | 12 | 113 | 80 |
| 35,001 | 40,000 | 22.4 | 12 | 202 | 96 |
| 40,001 | 45,000 | 22.4 | 12 | 202 | 100 |
| 45,001 | 50,000 | 22.4 | 12 | 202 | 105 |
| 50,001 | 70,000 | 22.4 | 12 | 210 | 105 |
| 70,001 | 150,000 | 22.4 | 12 | 210 | 105 |