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Safaricom has announced an increase in the transaction limit for each M-Pesa transaction, raising it to KSh 250,000 from KSh 150,000. This move comes after receiving approval from the Central Bank of Kenya (CBK).
Under these new changes, M-Pesa users will now enjoy higher transaction limits across various services, including Send Money, Lipa Na M-Pesa Buy Goods, Paybill, and others.
Safaricom’s CEO, Peter Ndegwa, expressed appreciation for the Central Bank of Kenya’s decision to raise M-Pesa transaction limits, stating, “The increased transaction limits are a timely intervention as they will provide customers and businesses with additional convenience when doing business, empowering them to do more from their phones.”
This adjustment in transaction limits follows CBK’s prior approval to increase the M-Pesa daily limit to KSh 500,000 on August 14, 2023.
It’s important to note that the current maximum transaction fees will continue to apply across the new transaction limit bands, including KSh 108 per transaction for Send Money transactions.
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