Safaricom has announced the reduction of Lipa Na M-Pesa charges for merchants. The charges will drop from the current 1% of the transaction value to 0.5%.
Additionally Lipa na M-PESA merchants will be charged a flat fee of Ksh. 200 for payments above Ksh. 40,000. Merchants will not be charged for transactions worth Ksh. 200 and below.
The new charges will not apply to those merchants using Lipa Na M-PESA PayBill, Gaming merchant tariffs, and Lipa Na M-PESA petrol station tariffs.
M-PESA was launched 10 years ago in Kenya and it now has over 24 million customers, 54,000 active merchants and over 114,000 M-PESA Agent outlets.