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M-pesa customers cleverly avoid transaction costs by splitting high-value

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M-pesa customers cleverly avoid transaction costs by splitting high-value by Kenyans247(1): Wed 08, July, 2020 03:45am
- Safaricom director and former CEO Michael Joseph said the company had unsuccessfully pressured CBK to cap the number of split transactions at five - CBK on June 24, extended the implementation of free cashless transactions of below KSh 1,000 which was effected on March 16, to minimise coronavirus spread up to December - The telco which had petitioned the regulator to lower the threshold to KSh 500 said its losses from the move was estimated at KSh 1.8 billion monthly Safaricom M-pesa customers are cleverly avoiding transaction costs by splitting high-value transfers costing the telecommunications company billions of shillings in revenue. The telco reported "sly" customers were splitting high-value money transfers of as high as KSh 60,000 to deals of below KSh1,000, allowing them to enjoy a free service that ideally would have cost them KSh 105. Read more: https://www.tuko.co.ke/366815-m-pesa-customers-cleverly-avoid-transaction-costs-by-splitting-high-transfers.html

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