Safaricom has announced reduction in charges for paybill and business-to-customer tariffs to ensure affordability and mitigate the prevailing economic challenges customers face.
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 KES 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 such as electricity, hospital bills, schools, government payments etc. to ensure affordability.
The revised tariffs will be effective starting 1st January 2023.
