Safaricom removes Mpesa fee for transactions less than Ksh. 1000 shillings in the wake of coronavirus
Kenya largest telecommunication firm and the owner of mobile money transfer Mpesa Safaricom has waived fees for M-pesa transactions below Sh1000 in an announcement aimed at fighting the spread of coronavirus in the country. The move follows President Uhuru’s directive on ways of deepening mobile money usage to reduce the risk of spreading the virus through the physical handling of cash.
Earlier the president requested Kenyans to use mobile money instead of cash. He as well requested the industry to consider reducing the charges to help fight coronavirus.
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“In the meeting, it was agreed that all person-to-person transactions below Sh1,000 shall be free. This means that from Tuesday morning, M-PESA users will be able to send any amount below Sh1,000 for free over the next 90 (ninety) days,” said Michael Joseph, Chief Executive Officer Safaricom.
The central bank of Kenya also approved the increase of Mpesa transaction limit from 70,000 to 150,000 which will also be able to transact up to Ksh. 300,000 up from the current Ksh.140,000 and hold up to 300,000 in Mpesa account.
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This was arrived after a meeting between payment service providers (PSP) and the central bank of Kenya (CBK) to facilitate increased use of mobile money transactions instead of cash also resolved that the daily limit for mobile money transactions is increased to Sh300,000, the mobile money wallet limit is increased to Sh300,000 and the monthly total limit for mobile money transactions is eliminated.
Earlier in the day, Matatu Welfare Association chair Dickson Mbugua called on bus conductors and passengers to transact in soft means (via mobile money sending) and cards as this would lower the risk of contracting Coronavirus. Most bus conductors collect fares in cash.
Other mobile transactions are Airtel money and T-cash.
How to use free Mpesa Services
After the Safaricom removes Mpesa fee for transactions fee bellow Ksh. 1000, Kenyans and Mpesa customers can benefit.