Safaricom announced it has cut prices for its payment service, Lipa na M-Pesa, by a third, reported Business Daily Africa. Lipa na M-Pesa is a program that allows consumers to make payments on products and services through their mobile phones without being subject to any transaction charges.
Safaricom confirmed that commission charges have been lowered from 1.5 percent to just 1 percent of every transaction for traders. The article reported that Bob Collymore, the CEO at Safaricom, stated that the decision to lower prices was done in an effort to lower the costs of doing business within the country.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More