Telkom and Safaricom announced the integration of their mobile money products a couple of days ago. The integration development means that sending or receiving cash from the two platforms will be simplified (previous interoperability exchanges were more of a voucher-based system where recipients were required to redeem the transaction at an agent before accessing their funds). It also means that funds received will reflect immediately.
Telkom has made official the amount of fees people will be required to pay for sending money to M-PESA, and vice versa. As you will notice, the fees are the same as what Safaricom charges for on-net transactions. This will resonate well to a lot of people, and may finally bring onboard members of the public who thought interoperability fees were too high.
Here are the numbers:
|Maximum||Minimum||Send from T-Kash to T-Kash||Send from T-Kash to M-PESA|
Withdrawal fees from a T-Kash agent now range from Kes 10 for the Kes 50-100 range (you cannot withdraw less than Kes 50) to Kes 300 at the upper limit, which is Kes 70,000.
Bulk disbursement fees have also been revised: the following ranges will attract a fee of Kes 15; 25 and 30 in their respective orders – Kes 50 to 1000; Kes 1001 to 1500 and Kes 1501 to 70000.
Lastly, the following transactions will not attract any fees: generating T-Kash codes (more of that story can be read here), cash deposits, buying airtime and data through T-Kash, T-Kash balance check, mini-statements, changing T-Kash PINs (we are looking at you, M-PESA), as well as adding/deleting favourites.