Mobile money transaction is big business in Kenya with the best known platform being M-PESA. M-PESA was launched in 2007 by Kenya’s mobile telecommunications company, Safaricom.
M-PESA allows users to deposit, withdraw, and transfer money easily with a mobile device. All you need is a Safaricom line that is activated for M-PESA.
With additional services such as M-Shwari and Lipa Na M-PESA, it is hard to see users moving to any other platform. However, there are other mobile money platforms in Kenya that you can use as alternatives to Safaricom M-PESA.
1. T-Kash
T-Kash is a product of Telkom Kenya and allows users to access various mobile money services. To access the service, all you need is a Telkom Kenya line that is activated for T-Kash.
The services that you can access on T-Kash include;
1. Send and receive money to and from all networks in Kenya.
2. Deposit and withdraw money.
3. Shop at registered Merchant outlets.
4. Pay your utility bills.
5. Buy airtime for your line and other Telkom customers.
6. Buy Telkom data bundles directly without having to buy airtime.
T-Kash charges are as follows;
| TRANSACTION LIMIT IN KSH | TRANSACTION TYPE & CUSTOMER CHARGE | ||||
| Minimum | Maximum | Transfer to registered T-kash Customers |
Transfer to registered other networks | Transfer to unregistered Customers | Withdrawal |
| 1 | 49 | FREE | Free | N/A | N/A |
| 50 | 100 | FREE | Free | N/A | 10 |
| 101 | 200 | FREE | 5 | 36 | 26 |
| 201 | 500 | FREE | 10 | 36 | 26 |
| 501 | 1,000 | FREE | 15 | 41 | 26 |
| 1,001 | 1,500 | 20 | 20 | 46 | 26 |
| 1,501 | 2,500 | 35 | 35 | 61 | 26 |
| 2,501 | 3,500 | 45 | 45 | 93 | 48 |
| 3,501 | 5,000 | 55 | 55 | 120 | 65 |
| 5,001 | 7,500 | 65 | 65 | 145 | 80 |
| 7,501 | 10,000 | 85 | 85 | 190 | 105 |
| 10,001 | 15,000 | 90 | 90 | 245 | 155 |
| 15,001 | 20,000 | 90 | 90 | 265 | 175 |
| 20,001 | 35,000 | 100 | 100 | 285 | 185 |
| 35,001 | 50,000 | 100 | 100 | N/A | 265 |
| 50,001 | 150,000 | 100 | 100 | N/A | 295 |
| CUSTOMER PAYBILL | |||
| Customer Transaction Charges | |||
| Tariff | T-kash | ||
| Bands | Minimum | Maximum | Charges |
| 1 | 0 | 50 | Free |
| 2 | 51 | 100 | Free |
| 3 | 101 | 200 | 20 |
| 4 | 201 | 499 | 20 |
| 5 | 500 | 999 | 20 |
| 6 | 1,000 | 1,499 | 25 |
| 7 | 1,500 | 2,499 | 25 |
| 8 | 2,500 | 3,499 | 45 |
| 9 | 3,500 | 4,999 | 45 |
| 10 | 5,000 | 7,499 | 70 |
| 11 | 7,500 | 9,999 | 70 |
| 12 | 10,000 | 34,999 | 100 |
| 13 | 35,000 | 49,999 | 180 |
| 14 | 50,000 | 150,000 | 190 |
2. Equitel
Equitel is a product of Equity Bank. To use the service, you are required to have an Equity Bank account and your Equitel account will be linked to your bank account. Equitel works through a SIM card which Equity customers can get from their bank branches.
Equitel customers can send and withdraw money though an Equitel agent. They can also send money to other Equitel customers + customers on other networks plus send to bank accounts via Pesalink or RTGS.
The charges for Equitel are as follows;
| Send to Airtel Money / Safaricom M_PESA | ||
| Minimum Amount | Maximum Amount | Total Charge |
| 100 | 34.10 (Maximum Charge) | |
| 101 | 500 | 38.50 (Maximum Charge) |
| 501 | 1 1,000 | 44.00 (Maximum Charge) |
| 1,001 | 1,500 | 49.50 (Maximum Charge) |
| 1,501 | 2,500 | 60.50 (Maximum Charge) |
| 2,501 | 35,000 | 60.50 (Maximum Charge) |
| Sending to other bank account – PESALINK | ||
| Minimum Amount | Maximum Amount | Total Charge |
| 10 | 500 | 0.00 (Maximum Charge) |
| 501 | 10000 | 37.00 (Maximum Charge) |
| 10001 | 50000 | 62.00 (Maximum Charge) |
| 50001 | 100,000 | 87.00 (Maximum Charge) |
| 100,001 | 200,000 | 112.00 (Maximum Charge) |
| 200,001 | 500,000 | 137.00 (Maximum Charge) |
| 500,001 | 999,999 | 162.00 (Maximum Charge) |
| Sending to other bank account – RTGS | ||
| Minimum Amount | Maximum Amount | Total Charge to customer (tax incl) |
| 1 | 100,000 | 300.00 |
Maximum per day: Ksh. 500, 000
Maximum per transaction: Ksh. 100, 000
| Sending to Equity bank account – RTGS | ||
| Minimum Amount | Maximum Amount | Total Charge to customer (tax incl) |
| 1 | 300,000 | 0 |
Maximum per day: Ksh. 1,000,000
Maximum per transaction: Ksh. 300, 000
| Cash withdrawal charge | ||
| Minimum Amount | Maximum Amount | Total Charge |
| 100 | 2,500 | 27.50 (Maximum Charge) |
| 2,501 | 5,000 | 49.50 (Maximum Charge) |
| 5,001 | 10,000 | 82.50(Maximum Charge) |
| 10,001 | 20,000 | 159.50 (Maximum Charge) |
| 20,001 | 35,000 | 187.00 (Maximum Charge) |
| 35,001 | 50,000 | 214.50 (Maximum Charge) |
| 50,001 | 100,000 | 242.00 (Maximum Charge) |
3. Airtel Money
Airtel Money is a mobile money product by Airtel Kenya. To access the service, users are required to have an Airtel Kenya line that is activated for Airtel Money.