Safaricom has reduced M-Pesa Paybill charges for electricity, hospitals, and schools, among other things, to help customers weather tough economic times.
The telco has reduced Bank to M-Pesa transactions by an average of 61%, and M-Pesa to Bank transactions by approximately 47%.
Safaricom claims the move is intended to protect customers who are already dealing with high food and fuel prices, among other things.
“In our role to continue supporting the economy and stimulating growth, we have taken the initiative to reduce significantly our paybill and business to customer tariffs. This move reaffirms our commitment to support all our customers and enable them cost effectively get along with their lives especially at this time when most Kenyans are experiencing hard economic times,” Safaricom CEO Peter Ndegwa said.
The new tariffs will go into effect on January 1, 2023. The revised tariffs have been designed to ensure alignment with the Central Bank of Kenya’s pricing principles of customer centricity, transparency and disclosure, fairness and equity, choice and competition, and affordability.
Read Also: Safaricom Increases its Fixed Internet Market Share to 35.6%
