Safaricom has cut prices on Mpesa transaction fees after a request by President Uhuru Kenyatta.
Under the new changes, the telecommunication giant has waived Mpesa transaction fees below KSh 1,000 for 90 days meaning all person-to-person transactions below KSh1,000 shall be free starting Tuesday, March 17.
By the same scale, daily Mpesa transaction limits increased from the current KSh 70,000 to KSh 150,000.
“CBK has also approved the increase of daily M-PESA transaction limits from the current KSh70,000 to KSh 150,000. Kenyans will also be able to transact up to Ksh300,000 up from the current limit of KSh140,000, and hold up to KSh300,000 in their M-PESA wallets,” read the statement.
On Sunday, March 15, Uhuru asked banks and mobile money providers to consider reducing the cost of transactions to allow customers use cashless modes of payment as part of measures to stop transmission of COVID-19.
This is as the president announced a 14-day lockdown that included a raft of measures that include closure of schools and employees being allowed to work from home.
The measures are meant to encourage digital transactions in a bid to curb the spread of the virus with already three cases confirmed in the country.
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