Tuesday, 1 September 2015

Safaricom hits banks with new M-Pesa fees

From Mobile Money Africa –
Safaricom has introduced charges for the transfer of funds from customers’ bank accounts to third-party M-Pesa wallets, sealing a loophole that lenders have been using to by-pass the mobile phone company when sending money.

Wednesday the telco said the Central Bank of Kenya (CBK) had approved the charges, effective on December 1.

The announcement comes against the backdrop of a social media war between Safaricom and Equity Bank over fees charged on subscribers to Equitel, its telecommunications subsidiary.

Equity Bank claims that Safaricom has increased its charges for sending money from M-Pesa to Equitel to discourage money transfers from Equitel to third parties on its M-Pesa platform, an allegation that Safaricom has denied.”

Read more>>

Website Statistics mortgage payment calculator