Telcos

These Are The New Safaricom M-PESA Transaction Rates For 2021

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m-pesa

The Coronavirus Pandemic is still with us and many are still trying to recover from the effects of the whole ordeal. One of them being Safaricom and their ‘money transfer child’ M-Pesa. The free transactions expire on the 31st of December according to the Central Bank of Kenya and it looks like there will be changes to the M-Pesa Transaction rates.

M-PESA Transaction Cost REDUCTION

The Telco is taking a step to reduce its M-PESA tariffs by up to 45%. These cost reductions will affect more than 90 per cent of all customer transactions when sending money.

For instance, it will now cost

  • KES 6 to send between KES 101 and KES 500, down from KES 11.
  • Transactions between KES 1,501 and KES 2,500 will cost KES 32 down from KES 41.

Some perks will still be available. All transactions of KES 100 and below will remain free. In addition, all M-PESA customers will continue to enjoy free transactions between M-PESA and bank accounts.

“The price cuts are permanent, effective 1st January 2021. They will enable our more than 26.8 million customers to continue enjoying lower costs whenever they send money,” says Safaricom.

Maximum Amount Customer Can Transact Daily Maximum Amount Customer Can Hold in M-PESA
300,000 300,000
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New M-PESA Tariffs will be as below:

Send Money
Min Max Fee
49
50 100
101 500 6
501 1000 12
1001 1500 22
1501 2500 32
2501 3500 51
3501 5000 55
5001 7500 75
7501 10000 87
10001 15000 97
15001 20000 102
20001 25000 105
25001 30000 105
30001 35000 105
35001 40000 105
40001 45000 105
45001 50000 105
50001 70000 105
70001 150,000 105

Their reduced tariffs will equally apply to transactions for micro-Businesses under the new Pochi La Biashara service, and for Lipa Na M-PESA businesses using the Transacting Till to make payments.

As part of our Customer Obsession strategy, we maintain our commitment to continue to introduce new measures and innovations that meet the needs of our customers. ~ Peter Ndegwa

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1 Comment

  1. […] new gist is that Safaricom has, as of this week, pronounced a reduction in M-Pesa transaction fees which is to take effect in the new year, from the 1st of […]

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