Safaricom has announced reduction in charges for paybill and business to customer tariffs in an effort to ensure affordability and mitigate the prevailing economic challenges faced by customers.
In the new changes, bank-to-M-Pesa charges have been reduced by an average of 61%. Additionally, M-Pesa to bank charges have been reduced by an average of 47% and is applicable to customers making M-Pesa to bank transactions. Transactions below Kshs 100 remain zero-rated.
The reduced M-Pesa-to-bank tariff will also apply to all M-Pesa Paybill payments that customers use for utilities like electricity, hospital bills, schools, government payments etc., to ensure affordability.
The revised tariffs will be effective starting 1st January 2023.
