M-Pesa users can now enjoy the increased Kshs 250,000 per transaction limit, Safaricom has confirmed.
Previously, M-Pesa users could only send up to Kshs 150,000 at any given.
“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 company says in a statement.
The increase in the transaction limit comes after the financial services industry regulator, the Central Bank of Kenya (CBK), gave the greenlight a few weeks ago a move that saw M-Pesa rival Airtel Money roll out the limit to its users almost immediately.
It also comes weeks after the regulator allowed mobile money transfer service providers to raise the daily transaction limit for their users to a whopping half a million shillings. Users of such services were also allowed to hold up to a similar amount in their mobile money wallets with the move by CBK.
The latest development means that with just two separate transactions at the maximum limit allowed, one can max their daily transaction ceiling of Kshs 500,000.
“Current maximum transaction fees will apply across the new bands including Kshs 108 per transaction for Send Money,” Safaricom says.
