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| Safaricom CEO Bob Collymore. The telco said it would drastically cut fees for smaller transactions on its M-Pesa, as it prepares to head off competition from Equity Bank’s new rival service. [PHOTO: FILE/STANDARD] |
It will now cost less for those sending up to Sh1,500 using Safaricom’s M-Pesa platform. This follows a 67 per cent reduction in charges for sending cash of any amounts between Sh10 and Sh1,500.
This means the cost of sending Sh1,500 falls from the current Sh33 to Sh22.11. However, this is where the good news ends.
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