Covid-19: M-Pesa waives fees to discourage cash usage

March 19, 2020 | Payments

Written by FinTech Alliance

Covid-19: M-Pesa waives fees to discourage cash usage

Kenyan telco Safaricom is waiving fees for its hugely popular mobile money service

In Brief:

  • The move follows a meeting with the Central Bank of Kenya's governor to explore ways to reduce the risk of spreading the virus through the physical handling of cash
  • M-Pesa has more than 20 million customers and 175,00 agents in Kenya, a country that currently has four active cases of Covid-19.
  • The World Health Organisation has advised consumers to avoid handling bank notes and instead switch to contactless payments to deter the spread of the deadly coronavirus.

What this means

M-Pesa is largely credited for pioneering mobile payments in Africa and once again is showing leadership in a time of crisis.

Read more

 

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