Image courtesy Daily Nation Safaricom has taken a step to reduce its M-PESA transaction rates by up to 45% in 2021, for transactions between KES 101 and KES 7,500. 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. M-PESA Transactions Costs in 2021
Maximum Amount Customer Can Transact Daily Maximum Amount Customer Can Hold in M-PESA 300,000 300,000 New M-PESA Tariffs will be as below: Send Money Min Max Fee 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 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.
