Airtel Money Kenya, a leading provider of mobile money services in the Kenyan market, has announced an upward revision of its per transaction limit. Effective September 1st, 2023, customers will now be able to send up to Ksh 250,000 in a single transaction. This represents a significant 67% increase from the previous per transfer limit of Ksh 150,000. It follows recent positive engagements between Airtel Money Kenya and the Central Bank of Kenya (CBK).
Just last month, the CBK approved an increase in the daily transaction limit for mobile money providers from Ksh 300,000 to Ksh 500,000. Airtel Money Kenya’s raising of the per transaction ceiling to KES 250,000 is aligned with this regulatory change to provide greater transaction flexibility for consumers.
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According to Anne Kinuthia-Otieno, Managing Director of Airtel Money Kenya, charges for transfers between Ksh 150,001 to 250,000 will remain similar to the previous Ksh 70,001 to 150,000 band. The new limit allows customers to send larger sums conveniently in one go without the hassle of splitting into multiple smaller transactions.
Kinuthia-Otieno noted that increasing the per transaction limit signifies Airtel Money Kenya’s commitment towards enhancing convenience and delivering exceptional value to customers. By letting users transfer higher amounts seamlessly, Airtel Money Kenya aims to empower customers with personalized solutions for their financial needs.
The raised transaction ceiling has major implications for both individual consumers and businesses across Kenya. Individuals will benefit from being able to quickly send larger sums to family and friends in a single instant transfer.
Small and medium enterprises (SMEs) will also gain the ability to efficiently pay employees, suppliers, and partners without friction. This enhanced convenience and speed for business financial flows aligns with a priority goal of the CBK to accelerate digital payments adoption.
As more commerce in Kenya shifts to mobile money, Airtel Money Kenya continues finding innovative ways to offer unmatched value. Affordability is a key focus, allowing users to send funds freely without worrying about transfer costs, especially for lower income segments.
Airtel Money Kenya continues innovating to offer the best customer experience in mobile money services. The increased transaction limit provides more flexibility and convenience as adoption of mobile payments expands in Kenya.
