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By Monica MUEMA
Telecommunications firm, Safaricom Plc has increased the M-Pesa transactions limit to Sh250,000 for a single transaction.
Mobile money or M-Pesa customers will now be able to send money and make payments for Lipa Na M-Pesa BuyGoods, PayBill and all other transactions of up to Sh250,000.
Approved by the Central Bank of Kenya, this move will also see an addition of a new transaction band of Sh151,000 to Sh250,000.
“We welcome the move by the Central Bank of Kenya to increase M-PESA transaction limits to KSh. 250,000. 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,” said Peter Ndegwa, CEO – Safaricom.
Current maximum transaction fees will apply across the new bands including KSh. 108 per transaction for Send Money.