Revised M-Pesa Charges: What You Need to Know
Safaricom PLC has updated its M-Pesa transaction fees and withdrawal charges, offering clarity on recent changes.
New Withdrawal Fees Explained
The telecom giant adjusted its withdrawal fees for amounts ranging from KSh 50 to KSh 250,000. Safaricom confirmed to Gossipa2z.com that these revisions were implemented in 2023.
- Transfers between KSh 50 and KSh 100 remain free.
- Withdrawals for this range now cost KSh 11.
- For KSh 101 to KSh 2,500, the withdrawal fee rose to KSh 29, up from KSh 28.
Key M-Pesa Updates
- Increased Limits:
- The M-Pesa daily transaction cap and account balance limit were raised to KSh 500,000.
- The Central Bank of Kenya (CBK) also increased the daily transaction limit to KSh 250,000 in 2023.
- Airtime Purchase Adjustment:
- In September 2024, Safaricom reduced the minimum M-Pesa airtime purchase limit to KSh 1 (previously KSh 5) to enhance revenue collection.
Financial Performance
Safaricom reported a slight dip in voice call revenue for the 2024 financial year, declining by 0.6% to KSh 80.5 billion.
Safaricom continues to adapt its offerings to meet customer needs while streamlining its business operations.
Revised M-Pesa Charges: What You Need to Know
