What is Safaricom?
Safaricom is a leading mobile telecommunications company in Kenya. They offer mobile money transfer, mobile banking services, and voice and data communications through their network.
Safaricom was founded in 1997. It is the leading wireless services provider in Kenya, with over 17 million subscribers (2017). Safaricom offers a wide range of products and services to its customers, including voice, data, SMS, M-PESA, M-Shwari, M-Kesho, airtime top-up cards, and many more.
How do Mpesa Transactions Work?
Mpesa is the most popular mobile banking application in Kenya. In this article, we will explain how Mpesa transactions work.
In Kenya, Mpesa is the most popular mobile banking application. It’s a simple and convenient way to transfer money from one person to another or pay bills with a text message.
To send money through Mpesa, you need a Mpesa account. You also need to know the recipient’s phone number and the amount of money you want to send them.
The sender enters their account details in the “Send Money” tab on their Mpesa app and sends a text message containing all relevant information to the recipient’s mobile phone number. The recipient receives the text message, which in essence confirms the completion of the money transfer process.
How Much Do Mpesa Transactions Cost?
The cost of a Mpesa transaction depends on the amount of money being transferred. Transferred as a fee for the transfer. It is important to note that depositing and receiving money on mpesa is free.
Mpesa Withdrawal Charges
Cost for Sending Money to Registered M-PESA Users, Business Till To customer and Pochi La Biashara
Cost of Sending Money to Unregistered Users on Mpesa
Mpesa transactions Charges for ATM Withdrawal
The following are the M-Pesa transaction charges for ATM Withdrawal:
|Minimum Ksh||Maximum Ksh||M-PESA Charges|