SAFARICOM REDUCES PAYBILL PRICES

Safaricom reduces Paybill prices by more than half

By Douglas Muriithi

Safaricom (NSE: SCOM) has announced

reduction in charges for paybill and

business to customer tariffs in an

effort to ensure affordability and

mitigate the prevailing economic

challenges faced by customers.

In the new changes, Bank to M-PESA

charges have been reduced by average of

61%. Additionally, M-PESA to Bank

charges have been reduced by an average

of 47% and is applicable to customers

making M-PESA to bank transactions.

Transactions below KES 100 remain zero

rated.

The reduced M-PESA to Bank tariff will

also apply to all M-PESA Paybill

payments that customers use for

utilities such as electricity, hospital

bills, schools, government payments etc.

to ensure affordability.

The revised tariffs will be effective

starting 1st January 2023.

“In our role to continue supporting the

economy and stimulating growth, we have

taken the initiative to reduce

significantly our paybill and business

to customer tariffs. This move reaffirms

our commitment to support all our

customers and enable them cost

effectively get along with their lives

especially at this time when most

Kenyans are experiencing hard economic

times,” said Safaricom CEO Peter Ndegwa.

The revised tariffs have been structured

to ensure alignment with the Central

Bank of Kenya pricing principles on

customer centricity; transparency and

disclosure; fairness and equity; choice

and competition as well as affordability

The move comes as an appreciation of

increased usage by customers making

payments using M-PESA Paybill for

services.