Safaricom increases daily M-Pesa transaction limit to Sh500,000
The move comes after an application made by Safaricom was approved by the Central Bank of Kenya.
M-Pesa customers will from Tuesday, August 15 transact up to Sh500,000 per day after the telco increased the daily limit by Sh200,000.
This is the second time Safaricom is increasing the transaction limit after the first one was approved in March 2020 from Sh150,000 to Sh300,000.
The move comes after an application made by Safaricom was approved by the Central Bank of Kenya.
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.
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