NAIROBI, Kenya, Dec 22 – Safaricom has permanently reduced M-PESA tariffs reduced by up to 45pc for lower value transaction bands ahead of the expiry of zero-rated transactions.
The company says the move is part of different measures it has adopted to help the country better weather the Covid-19 Pandemic.
The Telco’s CEO Peter Ndegwa says the tariff reductions will affect more than 90 percent of all customer transactions when sending money.
Go forward therefore, it will now cost Sh6 to send between Sh101 and Sh500, down from Sh11. Transactions of between Sh1,501 and Sh2,500 will cost Sh32 down from Sh41.
All transactions of KES 100 and below will remain free.
“This is in consideration of the expiry of the period for the zero-rated M-PESA transactions and the ongoing Covid-19 and economic circumstances,” Ndegwa said.
The price cuts are permanent, effective 1st January 2021 and will enable the telco’s more than 26.8 million customers to continue enjoying lower costs whenever they send money.
“Our new, reduced tariffs will equally apply to transactions for micro-Businesses under our new Pochi La Biashara service, and for Lipa Na M-PESA businesses using the Transacting Till to make payments.”
In March, the company implemented a waiver with transactions below Sh1,000 being free to encourage the widespread adoption of cashless payment in response to the coronavirus pandemic.