In Kenya, Safaricom’s M-PESA continues to dominate the mobile money space but the competition has been relentless. We have seen Airtel Money and T-Kash position themselves as promising alternatives to M-PESA, gaining interoperability with M-PESA services like payments to Tills and other services, all while being cheaper to use.
For a while now, it has been cheaper to transact on Airtel Money than it has been on M-PESA but this advantage seems to be shrinking as Airtel revises its transaction charges today.
- Airtel Money Customers Can Now Pay for Electricity Tokens for Free
- Airtel Money increases Daily Transaction Limit and Maximum Account balance to KES 500,000
Airtel Money Transaction Charges for 2023
|Airtel to Airtel Charges||Transfer to Other Networks||Withdrawal Charges|
These new rates mainly affect the larger transactions made on the platform. For instance, withdrawing between Sh50,000 and Sh250,000 will cost you Ksh 300 at Airtel Money agents, up from Ksh. 270. The cost of transferring money to other networks including M-PESA and T-Kash mostly remains unchanged so that’s a relief.
“We have reviewed our Airtel Money transaction fees to enable our customers to continue enjoying affordable prices while transacting through their mobile money wallets.”Said Airtel Money Kenya MD Anne Kinuthia-Otieno.
- How To Register as an Airtel Money Agent In Kenya
- You can now use T-Kash, Airtel Money to Pay for Goods with Lipa Na M-PESA
Airtel’s move to increase in its Airtel Money transaction fees for large amounts in Kenya might as well be a result of the rising operational costs and regulatory changes in the mobile money sector. However, Airtel Money still offers competitive rates compared to M-PESA, especially for small and medium transactions.
Airtel Money users can also enjoy other benefits such as free Airtel Money to Airtel Money transactions on top of bonuses from airtime and bundles purchased through the mobile money platform. Airtel seems to remain committed to providing affordable and convenient mobile money services to its customers across Kenya.