Safaricom lowers MPesa Bank tariffs to shield its customers from soaring inflation

 

Friday December 16, 2022 – Safaricom PLC has reduced Paybill charges and business-to-customer tariffs by more than half.

In a press statement on Thursday, the telecommunication giant said that the new M-Pesa Bank transaction charges were reached at to ensure affordable services to customers.

Safaricom Chief Executive Officer Peter Ndegwa reiterated the firm’s commitment to supporting customers, saying the move is aimed at mitigating prevailing economic challenges.

“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,” Ndegwa said.

Ndegwa confirmed a reduction in Bank to M-Pesa charges by an average of 61% and M-Pesa to Bank charges by an average of 47%.

He noted that transactions below KSh 100 will remain at zero charge rate.

The charges on M-Pesa Paybill have also been reduced, allowing customers affordable access to utility bills and other payments.