KENYA: Telkom reviews mobile money tariffs

All person-to-person transactions below Sh100 in Telkom’s reviewed mobile money (T-Kash) tariffs will remain zero-rated.

The company said the tariffs have been approved by the Central Bank of Kenya and fall into three bands up to a maximum of Sh2,500.

The charges were waived last year with the view of encouraging the use of mobile money and other forms of cashless payments, thereby minimising the use of physical cash to curtail the spread of Covid-19.

The daily T-Kash limit per transaction will remain at Sh150,000, with the daily sending limit being retained at Sh300,000 with a wallet limit access of Sh300,000.

Any transactions between Sh50,000 and Sh300,000 will attract a rate of Sh100. All other fees remain unchanged.

Telkom said it is embarking on a journey to enhance its digital financial services offering over the coming weeks to make it more reflective of current customer demands, with respect to increased security, simplicity, availability and reliability.

Mobile money has become a key revenue stream for telcos as customers seek convenience in cash transfers. 

SOURCE: The standard / James wanzala