Telecommunications giant Safaricom has reviewed downwards the amounts charged to transfer cash on its mobile money platform MPESA.
As from 21st August 2014, subscribers will see transaction fees reduced by up to two thirds for transfer amounts ranging between Sh10- to Sh1, 500. It currently costs between Sh3 and Sh66 to send amounts within this range.
The operator has also rationalized tariffs for sending amounts exceeding Sh1, 501 to an average of 0.8% percent of the transaction value.
CEO Bob Collymore says the revision is in tandem with usage trends with close to two thirds of all person to person transactions on the platform being within the Sh10 – Sh1500 band.
All other tariffs will remain unchanged.