Good news! Safaricom reduces Paybill prices by more than half
The leading telecommunication company in East Africa has reduced the charges for Paybill services and business-to-customer tariffs in an effort to ensure affordability and mitigate the prevailing economic challenges faced by customers.
In the new changes, Bank to M-PESA charges have been reduced by an average of 61 per cent.
The revised tariffs will be effective starting January 1, 2023
In a press release, the company CEO, Peter Ndegwa said that the move is to reaffirm their commitment to customers.
“This move reaffirms our commitment to support all our customers and enable them to cost-effectively get along with their lives, especially at this time when most Kenyans are experiencing hard economic times,” noted Ndegwa.
Ndegwa also said that Safaricom will continue supporting Kenya’s economy and stimulating growth.
“We have taken the initiative to significantly reduce our Paybill and business-to-customer tariffs,” added Ndegwa.
On the other hand, M-PESA to Bank charges have been reduced by an average of 47 per cent and is applicable to customers making M-PESA to bank transactions. Transactions below Sh100 remain zero-rated.
The reduced M-PESA to Bank tariff will also apply to all M-PESA Paybill payments that customers use for utilities such as electricity, hospital bills, schools, government payments etc. to ensure affordability.
The revised tariffs have been structured to ensure alignment with the Central Bank of Kenya’s pricing principles on customer centricity; transparency and disclosure; fairness and equity; choice and competition as well as affordability.
Millions of businesses within the country are depending on the company for various transactions.
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