Safaricom has increased M-PESA transactions limit to KSh. 250,000 for each transaction up from Ksh. 150,000.
The move will see the addition of a new transaction band of KSh. 151,000 to KSh. 250,000 for Send Money, Lipa Na M-PESA BuyGoods, PayBill and all other transactions.
The increased transaction limit follows approval by the Central Bank of Kenya and comes on the heels of the previous approval for daily limit and M-PESA limit increases to KSh. 500,000 per day from 14th August 2023. Current maximum transaction fees will apply across the new bands including KSh. 108 per transaction for Send Money. The move comes after the telco increased the Mpesa account limit to Ksh. 500,000 in August.
Peter Ndegwa, CEO Safaricom, had this to say, “We welcome the move by the Central Bank of Kenya to increase M-PESA transaction limits to KSh. 250,000. The increased transaction limits are a timely intervention as they will provide customers and businesses with additional convenience when doing business empowering them to do more from their phones.”
Airtel Money also revised its per transaction limit to Ksh. 250,000 on September 1 after approval from the Central Bank of Kenya (CBK).