M-Pesa Kadogo – Safaricom drops charges for sending funds below Ksh.100
Why do you have to pay money to send money? That is a question that has been posed a number of times but somehow eluded the ears of the target group. Maybe the agent network from the competition is what so to it that they do not lure Safaricom subscribers to turn their backs on the Telco. Airtel was focused on the ambitious project that will see them share agent resources with the likes of Safaricom that it forget to expand its own agent network. Woe unto them as some are throwing in the towels on the Telco citing poor business.
End of last week Safaricom announced a new initiative dubbed M-Pesa Kadogo. This is mainly targeted to the individuals who transfer funds equal to or below Ksh.100 per transaction. From Friday, 4th November, 2016 Safaricom scraps the charges subjected to cash transfers below Ksh.100.
“Delivering our financial inclusion agenda remains at the core of our strategy to transform lives. To further deepen the financial inclusion and in response tour customers’ feedback, we have reviewed charges for person-to-person and Lipa Na M-Pesa transactions under Ksh.100. Under the M-Pesa Kadogo it will be free to send values of Ksh.100 and below. We have done this to empower the people who support this company the most – the mama mbogas, the small business men and the micro-agents who form our network. We shall continue to grow the adaption of savings and uptake of loans through M-Pesa, and grow cashless business payments and transactions.”
So far Safaricom has not imposed any restrictions in regard to the number of free transactions an individual can initiate. Safaricom claims that it is keenly monitoring the product to see if it will be abused so as to respond appropriately. This kind of reminds one of the discontinued unlimited browsing bundle from Safaricom that was discontinued citing abuse and misuse by some users.