For those who may not know, Safaricom has taken a step to reduce its M-PESA transaction charges by up to 45% in 2021. This is specifically for transactions between KES 101 and KES 7,500. Essentially, these cost reductions will affect more than 90 percent 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 when withdrawing money from their bank accounts to M-PESA.
“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.
The reduced M-Pesa transaction rates for 2021 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.
M-PESA Transactions Charges in 2021
|Maximum Amount Customer Can Transact Daily||Maximum Amount Customer Can Hold in M-PESA|
New M-PESA Tariffs will be as below: