Here Are the Updated M-PESA Transaction Charges in 2024

lipa na m-pesa

2020 was a rough year for most people due to the global crisis that is COVID-19. Perhaps the saving grace or silver lining throughout the whole crisis period was the cushioning offered by governments and corporations.

Well, things are beginning to ease up and these relief measures are getting scrapped one after the other. In line with that, Safaricom is looking to offer its M-PESA customers a little reprieve moving forward.

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Today thanks to the enactment of the Finance Act 2023, here are the new M-PESA transaction charges that are applicable going into 2024.


Related:


M-PESA Charges Starting July 29, 2023

Below is a table listing how much it’ll cost you to perform a transaction on Safaricom’s Mobile money platform, M-PESA starting July 29, 2023. Here are the 2023 M-PESA charges.

TRANSACTIONRANGE (KSHS)TRANSACTIONTYPE AND CUSTOMERCHARGES (KSHS) 
MINMAXTRANSFER TO M-PESA USERS, POCHI LA BIASHARA AND BUSINESS TILL TO CUSTOMERTRANSFER TO OTHER REGISTERED MOBILE MONEY USERSTRANSFER TO UNREGISTERED USERSWITHDRAWAL FROM M-PESA AGENT
149FreeFreeN/AN/A
50100FreeFreeN/A11
101500774729
5011,00013135129
1,0011,50023236129
1,5012,50033337629
2,5013,500535311552
3,5015,000575713969
5,0017,500787817187
7,50110,0009090211115
10,00115,000100100273167
15,00120,000105105296185
20,00135,000108108318197
35,00150,000108108318278
50,001150,000108108318309

Please note that these charges are subject to change so stay tuned for the most up to date rates, as and when they are revised by Safaricom.



Also, being retained is the increased capacity of an M-PESA account. M-PESA users can now have up to Ksh 300,000 on their M-PESA mobile wallet accounts while the daily limit to transactions is also retained at Ksh 300,000.

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Safaricom remains the biggest teleco in Kenya with a market share of a little over 60%, according to data from the Communication Authority. Its mobile money platform, M-PESA, continues to reign supreme in the country with a 99% market share.

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