Safaricom CEO Bob Collymore broke the good news to merchants during his address at the FT Africa Payments Innovation Summit held yesterday in Nairobi. The telecom announced planned tariff price cut by 50% on its M-Pesa’s Lipa Na M-Pesa services, a mobile money payment solution that allow merchants to receive payments via M-Pesa.
Safaricom will, as from next week, charge a maximum of 0.5% on the transaction amount, down from the previous 1% under the new Lipa Na M-Pesa tariff. Additionally, merchants will be charged at a flat rate of Ksh. 200 for payments over Ksh.40,000.
“We trust that this development will boost the attractiveness of the Lipa Na M-Pesa platform to more small and medium enterprises while making the service more affordable compared to other alternatives in the market, said Collymore.
Collymore went further to reveal that M-Pesa recently launched Kadogo tariff will now be expanded to include Buy Goods option under the Lipa Na M-Pesa service. This development will mean merchants will receive payments below Ksh. 200 at completely no cost.
Safaricom has announced that it has improved the speed of processing money transfer service for Merchants’ …read more