Yesterday Safaricom announced that it has raised the daily M-Pesa transaction limit from Ksh 300,000 to Ksh 500,000. Airtel Money has followed suit and today announced that it will be raising the daily transaction limit to Ksh 500,000. The limit per transaction has also been raised to Ksh 250,000.
Both Airtel Money and Safaricom have received the approval of the Central Bank of Kenya to raise the limits. This move is good news for businesses and individuals who have found the Ksh 300,000 daily limit outdated. The new daily limits are effective from today for both Airtel Money and Safaricom.
In a statement, Airtel Money said an increase in the daily transaction limit is expected to benefit a wide range of Airtel Money customers, including businesses, government agencies, among others. It will also support the growth of the digital economy in Kenya.
Mrs Anne Kinuthia-Otieno, Managing Director Airtel Money (K) Ltd, expressed her enthusiasm stating, “We are elated about the CBK’s decision as this change will significantly empower our customers and partners by providing them with the flexibility to conduct larger transactions and manage their finances more effectively.”
“This is a positive step as it has very positive economic benefits for the Kenyan economy,” said Anne Kinuthia-Otieno, Airtel Money Managing Director. “Businesses can now conduct their operations more conveniently, efficiently, and consumers can access a wider range of goods and services contributing to economic growth, job creation, and improved financial stability in Kenya.”
Airtel recently announced that it has tripled its number of mobile money agents and targets to close at 120,000 agents by the end of 2023. The company also recently Waived Transaction Fees For Kenya Power Bill Payments via Airtel Money.
Also Read: Airtel Money Charges and Tariffs As of August 2023