Airtel Kenya, one of the leading mobile network operators in the country, has announced that it has increased its daily transaction limit and maximum account balance to KES 500,000 for its Airtel Money customers.
This comes a day after market leader, Safaricom’s M-PESA did the same. This is a significant improvement from the previous limit of KES 300,000, which was set by the Central Bank of Kenya in March 2020 as part of the measures to curb the spread of COVID-19.
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The new limit will enable Airtel Money customers to transact more conveniently and securely, especially for large payments such as school fees, rent, salaries, and business transactions. Airtel Kenya said that the move is in line with its vision to provide affordable and innovative financial services to all Kenyans, regardless of their location or income level.
Airtel Kenya’s Managing Director, Prasanta Das Sarma, said that the company is committed to enhancing its Airtel Money service to meet the evolving needs of its customers and the market.
“We are delighted to offer our customers more flexibility and convenience with our Airtel Money service. We believe that this will further boost the uptake and usage of mobile money services in Kenya, as well as support the government’s agenda of promoting a cashless economy.”
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Airtel Money is a mobile money platform that allows customers to send and receive money, pay bills, buy airtime, and access other financial services using their mobile phones. Airtel Money has over 14 million registered customers and over 23,000 agents across Kenya.
Airtel Money also offers interoperability with other mobile money platforms such as M-Pesa and T-Kash, as well as bank accounts and ATM cards.