Mpesa rates 2018 pdf

Agents who are located at strategic locations tend to make higher transactions and thus they earn more commissions. Mpesa rates 2019 safaricom mpesa charges and tariffs. The vodacom tariffs include charges for transfers to other registered customers which are lower, just like in kenyas safaricom mpesa. These vodacom tanzania mpesa tariffs and charges are applicable when sending and receiving money. Mpesa charges depend upon the amount being sent or withdrawn. Effective 1st july 2018 new mpesa charges, rates were introduced by safaricom.

Below are the safaricom mpesa charges 2018 for all tariffs both withdrawal, transfer to both registered and unregistered users. Mpesa charges 2020 withdrawal sending from agent pdf. Mpesa charges 2020 withdrawal sending from agent pdf ugwire. Kenyans will from july 1, 2018 have to dig deeper into their pockets as the new charges for the money transfer service mpesa rates take effect. Effective sunday, july 1st 2018 mpesa tariffs no transaction without an original id ke customer charges transaction range kshs transaction type and customer charges kshs min max transfer to mpesa users transfer to other mobile money users transfer to unregistered users withdrawal from mpesa agent 1 49 free na na na. Below we present tariffs for varying amount of money transacted via mpesa paybill. You should also note that you can only send a maximum of 70,000 per transaction. The mpesa charges have increased by an average of 1 shilling for withdrawing, including via atms, and sending money. Go to your mpesa menu on your phone and select lipa na mpesa. These tools are here purely as a service to you, for educational and informational purposes only. These rates effected on 1st july 2018 according to an announcement made by kenyas leading mobile network operator. Mpesa trasfer charges and rates buying guides, specs. The following are the mpesa trasfer charges and rates 2020.

Currently, it costs more amount to send money to an unregistered number in 2019. With these mpesa sending and withdrawal charges, registered safaricom users will pay ksh15 for sending ksh and ksh28 to withdraw the same amount from an mpesa agent. Safaricom mpesa withdrawal and sending charges 2020. This is after safaricoms announcement that was made on saturday 30 june. The rates were updated in a gazette notice published by nhif on march 26th 2018. Mpesa charges depend on the amount you are sending or withdrawing. Mpesa is a platform that offers retail financial services via mobile phone to kenyans, especially those in underserved rural areas. This facility allows you to transfer funds from your mpesa mobile account directly to your cba account. This increase forced safaricom to adjust upwards the amount they charge you to transact mpesa. New mpesa tariffs, 2020 charges for sending and withdrawal.

What kenyas mobile money success could mean for the arab. The new 2020 mpesa tariffs for sending or transferring. Ensure you have sufficient funds in your mpesa account to cover the amount you are paying and the relevant charges. Today, as it faces new challenges, it has 30 million users in 10 countries and three continents. For the avoidance of doubt, we have compiled the various mpesa rates according to. As a result, below are the mpesa withdrawal charges or rates for the years 2019 2020.

According to the company, the change was necessitated by the finance bill 2018 which raises the excise tax on mobile money from 10% to 15%. So here are the latest rates and charges for mpesa transfer. While cashin and cashout transactions still represented the majority of mobile money flows in 2018, digital transactions grew at. Mpesa charges for sending money and withdrawal calculator mpesa withdrawal charges from agent minkshs. Whilst every effort has been made in building these calculators, we are not to be held liable for any special, incidental, indirect or consequential damages or monetary losses of any kind arising out of or in connection with the use of the tools and information derived from the web site. On july 1st, 2018, safaricom introduced new mpesa charges following the 2% increment in mobile money transactions. Safaricom lipa na mpesa paybill charges and rates for.

Safaricom mpesa is the mostly accepted and used mobile money transfer service. Use the mpesa rates calculator to get mpesa fees for sending or withdrawing any amount. Mpesa charges 1 49 na 50 100 10 101 500 27 501 1,000 28 1,001 1,500 28 1,501 2,500 28 2,501 3,500 50 3,501 5,000 67 5,001 7,500 84 7,501 10,000 112 10,001 15,000 162 15,001 20,000 180 20,001 35,000 191. Also there are mpesa charges 2018 for atm withdrawals. If you use safaricoms mpesa, then you should know that the telco has adjusted its rates upwards as of the 1st of july 2018. Safaricom cited the financial bill 2018 and the provisional collection of taxes and duties act as the reason for the adjustment in the mpesa. The above table is for mpesa withdrawal charges in 2020. When depositing and withdrawing money via mpesa paybill number,you incur costs. Practitioners insight mpesa a success story of digital. You can use your mpesa menu to buy airtime for your phone, or for someone else. Tariffs and charges applicable when sending and receiving money for tigo pesa subscribers.

Safaricom implemented the new mpesa rates after the kenyan government proposed a 2% increase in the excise duty charged on service providers. Safaricom adjusted their mpesa charges, effective 1st july 2018. This is after treasury cs henry rotich increased excise duty on all mobile. Kenyans will from july 1, 2018 have to dig deeper into their pockets as the new charges for the money transfer service mpesa take effect. Mpesa is a mobile payment solution offered by safaricom. Its also worth noting that mpesa charges increased with the passage of the new finance bill 2018 by the kenyan parliament and the provisional taxes and duties collection act sometimes in mid2018. Mpesa rates, mpesa tariffs, mpesa withdrawal charges, m. The current mpesa paybill transaction charges have made it easier for customers to pay for services without hitches, enabling secure mobile payments and without feeling. How to start an mpesa business in kenya career point kenya. Thus, mpesa evolved from using a common trust account for all users to providing a connection with individual savings accounts. Mpesa charges will depend on the amount you are sending or withdrawing.

Mpesa withdrawal charges and rates 2020 victor matara. This is a revolutionary banking product from cba and vodacom that allows you to save money. Prior to mpesa, mobile phone customers had engaged in trading prepaid airtime. We have got the latest nhif rates for the employed and selfemployed.

You need to be an mpesa registered customer as the service is available for mpesa registered users only 2. How to do mpesa reversal by sending message to 456 new method. Since the launch of mshwari in 2012, which offers a savings account and access to digital credit, the market for digital credit has expanded rapidly in kenya. With the new rates, mpesa users will pay the following charges for their transactions. Mpesa withdrawal charges and rates latest as indicated in the mpesa charges table below, you can not withdraw less than ksh 50 from an mpesa agent but you can transfer any amount greater than ksh 10 to another mpesa user. The mpesa mobile payment system was launched in kenya in 2007. Commissions are paid out when mpesa customers make deposits or withdraw money from agents. Nhif rates 2018 for employed and self employed latest. Below is a comprehensive table showing new mpesa rates for withdrawing money from an agent in 2020. When planning to start an mpesa shop you need to have around 100k as float cash, rent money, branding as well as money to buy the aggregated mpesa. Mpesa withdrawal charges and rates posted in mpesa kenya, mpesa pay bill last updated on march 2nd, 2020 by harrison m current safaricom mpesa charges for sending and withdrawing money though a safaricom agent, atm and mpesa tariffs when transferring cash both to registered and nonregistered mpesa users. These rates came as a result of a 2% increment from 10% to 12% in mobile money transaction costs as announced by the treasury cabinet secretary, henry rotich.

You can send or receive up to tzs 3m per day or deposit up to tzs 5m at once on your tigo pesa account once fully registered. The national hospital insurance fund is a government body that provides health insurance cover to kenyans. Mpesa as a payments and money transfer platform was developed jointly by safaricom, a telco company, and the commercial bank of africa. The amount you pay will largely depend on the amount you are transacting. The largest players mshwari and kcb mpesa partnered with the largest. These are the new safaricom mpesa withdrawal and sending charges as of 2020. Lipa kwa mpesa is vodacoms merchant payments solution to digitize payments in the tanzania retail ecosystem and enable merchants and retailers collect payments seamlessly while helping customers to avoid the risks and burdens of carrying cash. To transfer funds, ensure you have a registered safaricom sim card and follow the simple steps below. Mpesa and the rise of the global mobile money market. Mpesa agents earn money through making deposits and facilitating withdrawals.

You are also limited to 2 transactions of the same amount everyday. The adjusted mpesa rates as of july 2018 are in line with the finance bill, 2018 and the provisional collection of taxes and duties act, take effect on july 1, 2018. Must read 15 top profitable business ideas in kenya you can start how to start mpesa business 2017. Mpesa charges for sending money and withdrawal released by safaricom are set to take effect on july 1, 2018. These are the new mpesa rates as of july 2018 techarena. Mpesa has been especially successful in reaching lowincome kenyans. Mpesa charges 2018 for sending money and withdrawal in. The app provides a truly transformative customer experience.

In essence, mpesa is a persontoperson p2p money transfer system that allows individuals to make payments and send remittances. The following are the mpesa charges for sending money that was updated in 2018 by. You can use the mpesa menu on your phone for services like. A case of nairobi county by gatwiri kirimi a research project report submitted to the chandaria school of business in partial. This success could inspire countries in the middle east and north africa region. Therefore, you will have to send the 140,000k in two batches. However, mpesa charges and rates went up a little in july 2018. The charges vary depending on the amount to transact.

By using the app you get a richer experience on all transaction types be it sending money to loved ones, accessing your bank account, paying. When transacting at an agents outlet, you will be asked to show your original identification. Effective sunday, july 1st 2018 mpesa tariffs no transaction without an original id ke customer charges transaction range kshs transaction type and customer charges kshs min max transfer to mpesa users transfer to other mobile money users transfer to unregistered users withdrawal. The following are the mpesa charges for sending money that was updated in 2018 by safaricom llc. The new mpesa tariffs, which take effect immediately, are below. Kenyans will now have to pay more while sending and receiving money via safaricoms mpesa starting sunday july 1 2018. To transact at any mpesa agent outlet, you will be required to produce your original identification document, i. The new mpesa tariffs rates are in compliance with the finance. The second table shows the rates for sending money to other mpesa users both registered and unregistered users. This service is free and you will only pay for the airtime purchased. Mpesa continues to dominate kenyan market mobile world live. Mpesa rates 2018 safaricom mpesa charges and tariffs.

You can also use your mpesa to buy airtime for your phone, or for someone else. How mobile money continues to boom in africa forbes. Here are the safaricom mpesa rates mpesa charges safaricom mpesa transactional charges and tariffs mpesa charges withdrawal from mpesa agent. Mpesa the largest and most innovative mobile financial service in tanzania has enriched its transaction experience by launching its mpesa app. Here is what you need to know about how to start an mpesa business in kenya. Sending ksh1,000 will cost ksh15 while a rate of ksh28 will be charged for withdrawing the same amount. Mtn has 225,4million subscribers in 21 countries, at the end of june 2018. Here are the new mpesa charges for the different scenarios. Safaricom has altered mpesa pay bill charges many times to find the best rates, giving it an edge in the kenyan telecommunications industry that is currently highly competitive.