A few weeks back, Airtel Money raised the daily transaction limits for users from Ksh 300,000 to Ksh 500,000. This was after the approval of the CBK and the announcement came soon after its rival, Safaricom, announced that it had raised its daily transaction limit to 500K too.
To keep up with the daily limits, Airtel Money has now raised the per transaction limit from Ksh 150,000 per transaction to Ksh 250,000 per transaction. These changes will take effect from tomorrow (1st September 2023). Raising the limits per transaction makes sense as those who may want to transact Ksh 500,000 only have to complete two transactions of 250k each.
Airtel Money will not be raising the transaction charges and has said they will remain similar to the charges in the Ksh 70,001 – Ksh 150,000 transaction band even for those transacting Ksh 250,000. .
In a statement, Airtel Money Kenya MD Anne Kinuthia-Otieno said, “The incorporation of the 150,001 – 250,000 band of transactions without any further transaction charges is part of our strive to empower our customers with flexible and personalized solutions while at the same time delivering to them exceptional value for their money. That signifies our commitment towards convenience and affordability.”
Safaricom is yet to raise its per transaction limits for M-Pesa but I am sure they will do the same soon.
Airtel Money Vs M-Pesa
Airtel Money is still playing catchup to M-Pesa which is the leading mobile money solution in Kenya. I find the issue with Airtel Money to be the lack of enough agents and businesses accepting payment through the platform. The company should move quickly in addressing this if its products are to be adopted by the masses. It is still difficult to see Airtel Money agents across the country. This is especially so in the smaller towns.