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M-Pesa moves to reduce cash usage

26.03.2020
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Non-cash transactions encouraged to reduce coronavirus spread

Kenyan telco, Safaricom, has waived fees on smaller transactions and increased spending limits for its M-Pesa money transfer service, reports finextra.com. The move follows a meeting with the Central Bank of Kenya’s governor, in which means of reducing cash transactions were explored. The WHO has advised consumers to avoid handling bank notes, which are known carriers of viruses. M-Pesa has more than 20 million customers in Kenya.

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Kenyan telco, Safaricom, has waived fees on smaller transactions for its M-Pesa money transfer service as the WHO has advised consumers to avoid handling bank notes, which are known carriers of viruses.

Theme:
Content: innovation, regulation and markets
Region:
Middle East & Africa
Series:
Regulatory Watch
Coronavirus, Fintech
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