Money –Giant telco Safaricom has today raised M-PESA daily transaction limits to sh 500,000 from sh 300,000.
This being a review that was reached following Central Bank of Kenya CBK recent approval of Safaricom sapplication on the matter.
This therefore means the increase from sh 300,000 to a half a million will see the giant telco enjoy increased numbers of high-profile clients who had been affected by the low daily limit.
Speaking on the matter, Safaricom CEO Peter Ndegwa said the increased limits will accord customers, especially small businesses, increased convenience as the share of cashless transactions continues to rise.
“We appreciate the role that the Central Bank of Kenya has played by constantly providing guidance on innovations and protections that we have put in place to strengthen M-PESA’s adherence to KYC, anti-money laundering, and other financial regulations and safeguards,” he said.
This is the second time Safaricom is increasing the transaction limit after the first one was approved in March 2020 from sh 150,000 to sh 300,000.
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