Safaricom Announces M-Pesa App, Tariff Reduction for SME Payments

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In the tenth-year since it was launched, mobile money service M-Pesa customers in Kenya can now enjoy an added convenience when transacting from their Android and iOS smartphones.

Kenyan telco Safaricom has today announced the availability of M-Pesa functionality in the mySafaricom App, offering a more refined user experience and enabling faster completion of transactions to the over 24 million M-Pesa customers.

The app enables customers to select contacts from their phone when sending money and comes with an improved implementation of the name search function Hakikisha which allows the sender to confirm the recipient before the money is sent.

Through the app, customers can also confirm the names of agents or businesses before sending of withdrawing money as they complete Lipa na M-Pesa transactions.

The company also announced the tax reduction by 50 per cent, for all Lipa na M-Pesa Buy Goods merchant fees benefitting small and micro businesses such as kiosks; public service vehicles and motorbikes; newspaper vendors; hawkers; and small eateries among others.

Under the new tariff, merchants will be charged 0.5 per cent of the transaction amount down from the previous 1.0 per cent.

For any payments above Ksh40, 000, Lipa na M-Pesa merchants will now be a charged a flat fee of Ksh200.

Safaricom will also expand the M-Pesa Kadogo tariff to enable for Lipa na M-Pesa Buy Goods merchants to receive transactions of Ks200 and below at no extra cost.

With the Lipa n M-Pesa service now available at 23 participating banks, merchants will enjoy the convenience of instant processing of payments to their bank accounts from as much as 28 hours to seconds.

The changes which only apply on Lipa na M-Pesa Buy Goods service will be effective the first week of April 2017.

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