The Central Bank of Kenya (CBK) has approved JamboPay’s request for higher mobile wallet transactional limits.
The JamboPay mobile wallet limits will now be increased from a daily maximum limit of Sh300,000 to Sh500,000 effective August 15, 2023.
JamboPay says its mobile wallet has 1.2 million subscribers that mainly use the services to pay for government services.
"Over 5000 organisations in East Africa use JamboPay’s ePayments services. Twelve county governments in Kenya and 27 national government entities use JamboPay’s platform."
The firm said its request to increase the transactional limit was made on the backdrop of the government’s drive to digitise more services.
“This will go a long way in supporting the government’s digitisation policy by enabling larger private and government transactions to be undertaken electronically,” Ven Rasugu, said JamboPay’s Head of Customer Experience Ven Rasugu in a statement on Monday.