Tag: mobile money
I&M Bank Permanently Drops Bank to M-PESA Charges
At the end of 2022, the CBK reintroduced bank-to-mobile money charges. The development followed a waiver of under two years when customers were allowed...
Bank to Mobile Money Transfers Are Free Again
In 2020, the Central Bank of Kenya (CBK) implemented a directive allowing for free money transfers from banks to mobile money wallets.
However, this...
Kenya High Court Temporarily Suspends Bank to M-PESA Charges
For more than two years, people have been able to send money from their banks to mobile money wallets for free. However, both banks...
Charges for Sending Money from Bank to M-PESA Effective 2023
A couple of days ago, we learned that the CBK was in the process of reinstating bank to mobile money charges, and vice versa.
The...
CBK Reintroduces Bank to Mobile Money Wallets Charges Effective from January 2023
At the start of the pandemic back in March 2022, the CBK announced that it had waived fees for sending money between mobile money...
Communications Authority Makes U-Turn in Comprehensive Mobile Money Reports
Over the last couple of quarters, we started noticing that the Communications Authority of Kenya (CA) was reporting less on the state of mobile...
Mobile Money Industry Processes Record $1 Trillion in 2021
The GSMA has released its annual ‘State of the Industry Report on Mobile Money’ which in part revealed that mobile money adoption and use saw continued growth in 2021, processing a record $1 trillion annually.
Mobile Money Agents Handle Ksh 3.8 Trillion in 7 Months
A total of Ksh.3.8 trillion was handled by mobile money agents from January up to July of this year in transactions, a huge increase...
The Rise Fund Purchases $200M Stake in Airtel Africa’s Mobile Money Product
Airtel Africa, which served 14 countries in the continent, has announced the signing of an agreement under which The Rise Fund, the global impact...
2020 Saw a 4% Decline in Card Payments Value in Kenya Due to Mobile Money
Card payments is one of the many ways to which people pay for goods and services in Kenya. The Central Bank noticed a drop...
KRA Gets Nod from The Courts to Snoop into M-PESA and Bank Records for Tax Compliance
Back in October 2018, we learnt that KRA had earmarked mobile money transaction data to boost tax revenues. The plan was to target mobile...
High Taxes on Kenyan Mobile Market Hurting Growth – GSMA Report
The mobile market in Kenya has registered growth year on year. Thanks to the proliferation of fast 4G network and the extended use of...
Kenyans Cry Foul Over Aggresive Mobile Money Lenders – Report
There has been a mobile loan app boom in the last 5 years in Kenya. A lot of lenders have popped up offering high...
Betting Economy is Thriving in Kenya Thanks to Mobile Money
Mobile money use cases are popular across the country and other parts of Africa. According to data collected by GeoPoll, mobile money had a...
Airtel Employees Fleeced Carrier of KES 670 Million in Mobile Money Fraud
It has since been revealed that Airtel Africa is prepping a listing in the London Stock Exchange, which implies that the telecoms corporation has...
Facebook’s Calibra Aims to Disrupt the Mobile Money Space
Today, Facebook announced Libra which is their new cryptocurrency platform which will be governed by the Libra Association. However, they also announced an interesting fintech product...
Airtel, Telkom Kenya Voice Traffic Up as Mobile Money Subscriptions Approach 30 Million
The Communications Authority of Kenya’s sector statistics report for the first quarter of 2018/2019 was released earlier today. Among the most interesting aspects of...
Government to Launch New Mobile Money Product, Admits Poor Uptake of Interoperability
On December 8, Safaricom’s M-PESA services were subject to an outage that lasted for a couple of hours. The loss of service for the...
MTN and Orange Group to Allow Mobile Money Interoperability in 22 African States
Kenya’s telecoms operators are not the only services that have pursued mobile money interoperability. The development, which went live a couple of months ago,...
All You Need to Know About M-Pesa Global and Transaction Charges
M-Pesa is one of Kenya's biggest achievements and a success story of how the service revolutionized money transfer and financial inclusion. In an effort...
How To Send and Receive Money Across M-Pesa and Western Union
Safaricom has today announced a partnership between the telco and financial services company, Western Union. This partnership will allow Western Union and M-Pesa customers to...
Telkom Kenya Eyes 5 Million Subscribers as Mobile Money Slacks
Kenya’s ICT watchdog the Communications Authority (CA) released sector statistics for the fourth quarter of the financial year 2017/2018. As usual, the report highlights...
KRA Starts Mobile Money and Bank Data Corroboration to Nab Tax Cheats
The other day, we learned that the Kenya Revenue Authority (KRA) was planning to hone it tax-collecting practices by digging into mobile money data....
KRA Earmarks Mobile Money Transaction Data to Boost Tax Volume
The legal framework that governs the boundaries of the Kenya Revenue Authority (KRA) in terms of how far it should stretch its taxing hand...
Kenya President Proposes Tax Increase on Internet, Mobile Money and Telephone Calls
Kenya's parliament proposed the postponement of the controversial 16% VAT on petroleum products for two years after a public outcry that the standards of...
mySafaricom’s Latest Update Adds Mobile Money Inter-operability Menu and Home Fiber Manager
Safaricom’s utility app mySafaricom has received a minor update today. The tool, which has been around for some time now, continues to receive iterative...
Mombasa is Yet to Get Bitten by the Mobile Money Bug
The latest stats by the Communication Authority of Kenya reveal that as much as active mobile money subscriptions have taken a shortfall by 3...
TECNO’s Parent Company is Coming for Branch, M-Pesa Pockets
With the growth of mobile money services in Kenya and around a few African countries it is only natural for any company with the...
Simple Mobile Money Transaction Reveals Underlying Privacy Loopholes
A typical Kenyan day involves at least one instance where you will leave your phone number either at a security desk while getting into a...
Safaricom Launches M-Pesa Loyalty Promotion Ahead of Proposed Mobile Money Tax Increase
Safaricom has launched a promotion dubbed “Maisha Ni M-PESA Tu” that is aimed at rewarding Safaricom subscribers who use the company's mobile money service for...
Ugandans to Start Paying Tax for Social Media and Mobile Money Usage
At the beginning of April, Uganda's president, Yoweri Museveni stated that he would tax social media usage in the country, apparently, since they are...
Uganda Telcos Slash Agents Commission on Mobile Money and Airtime Transactions
In a move that might only be labelled as crazy, Ugandan telcos have been reported to cut the commission that mobile money agents earn...
Opera Banks On iPay Africa Acquisition to Strengthen Play at Mobile Money
Back in December 2017, Opera Software Group officially took the wraps off OPay, a web-based payments platform. The service would allow users to purchase...
Seamless Mobile Money Transactions Between Airtel and Safaricom to Begin Next Week
In January, Safaricom and Airtel announced that they were testing mobile money interoperability among their staff. This meant that M-Pesa users who receive money...
Telkom Kenya’s Anticipated Mobile Money Service T-kash Goes Live with T-kash Codes and Much More
Telkom Kenya has finally launched T-Kash mobile money service, built from the ground up for the last several months.
