Lipa Na M-PESA Transactions Now 50% Cheaper

Beginning next week,  Safaricom will implement a 50% tariff reduction for all Lipa Na M-PESA Buy Goods merchant fees.

Under this new Lipa Na M-PESA tariff, merchants will be charged a maximum of 0.5% of the transaction amount, down from the previous maximum of 1%.

In addition, Lipa na M-PESA merchants will charged a flat fee of KES 200, for any payments above KES 40,000.

The newly introduced M-PESA Kadogo tariff will also  be expanded for Lipa Na M-PESA Buy Goods to enable merchants to receive all transactions of Sh200 and below at no cost.

Instant Processing

To boost M-PESA Convenience, Merchants will enjoy  instant processing of payments made through Lipa Na M-PESA to their bank accounts, with the service now available at 23 participating banks. This will cut down the time that it takes to move money from a Lipa Na M-PESA till to a bank account from as much as 28 hours down to seconds.


Under this new Lipa Na M-PESA tariff, merchants will be charged a maximum of 0.5% of the transaction amount, down from the previous maximum of 1%.


The changes in Lipa Na M-PESA will be effective in the first week of April 2017. Lipa Na M-PESA PayBill and Gaming merchant tariffs, and Lipa Na M-PESA petrol station tariffs will not be affected by these changes.

My Safaricom App

Safaricom has also announced the availability of M-PESA functionality in the mySafaricom App, which will see the more than 24 million M-PESA customers enjoy the convenience of transacting from their Android and iOS smartphones.

The app enables customers to select contacts from their phone when sending money and has a vastly improved implementation of the name search function Hakikisha — which allows the sender to confirm the recipient before the money is sent.

Customers will also have the convenience of confirming the names of agents or businesses before sending or withdrawing money as they complete Lipa Na M-PESA transactions.

In addition to eliminating the possibility of an error when performing M-PESA transactions, the mySafaricom App now offers a more refined user experience when interacting with M-PESA, enabling faster completion of transactions.

editor@biznews.co.ke

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Muhatia
Muhatia is the Managing Editor of Biz News Media Reach him via editor@biznews.co.ke