Safaricom, Airtel Announce New Mobile Money Fees After Interoperability Launch

Cross-network charges for mobile money transactions between Safaricom's M-Pesa and Airtel Kenya's Airtel Money are set to drop by 75 percent following the implementation of mobile money interoperability.

Charges for sending money to Airtel Money from M-Pesa will now be the same as sending to another registered M-Pesa user.

Sending between Ksh101 and Ksh500 from M-Pesa to Airtel Money previously cost Ksh44 but will now cost Ksh11, a 75 percent dip.

Transferring Ksh1,100 from Airtel Money to M-Pesa, which previously cost Ksh25, will now cost Ksh15.

[caption caption="M-Pesa and Airtel Money shops situated next to each other"][/caption]

Sending the same amount from M-Pesa to Airtel Money will cost Ksh25, down from Ksh48.

Safaricom further doubled the limit on money sent across networks from Ksh35,000 to Ksh70,000.

M-Pesa subscribers who were previously charged between Ksh44 and Ksh303 to send a maximum amount of Ksh35,000 will now be charged between Ksh11 and Ksh110 for transactions worth a maximum of Ksh70,000.

Telkom Kenya is expected to join the interoperability bandwagon in the coming weeks.

In a statement, the Central Bank of Kenya (CBK) welcomed the roll-out, noting that it would go a long way in deepening financial access.

[caption caption="The full statement from CBK"][/caption]