EXPERTS KENYA Kenya’s central bank extends mobile payments relief by six months 2 years ago Samuel Post Views: 651 Kenya will extend various relief measures on mobile phone payments that were introduced to help to curb the spread of the new coronavirus by a further six months, the central bank said on Wednesday. The East African country introduced the measures to encourage cashless payments on mobile phones because the government said avoiding the use of cash could help contain the spread of the virus. They included doubling of the daily transaction limits to 300,000 shillings in mid-March after the first case of COVID-19 was reported. “More than 1.6 million additional customers are now using mobile money channels,” – the central bank said in a statement. The measures, which were introduced for an initial period of three months, have been renewed until the end of the year. This will include the removal of charges on small transactions. Telecoms operator Safaricom, which dominates mobile payments with its M-Pesa platform, predicted a 7% hit to its annual revenue in the initial three month period as a result of the removal of all charges on small peer-to-peer transfers. Safaricom’s M-Pesa mobile money platform has more than 20 million active users in a population of 47 million. Under the initiative, other financial payments services companies and commercial banks also removed charges for customers who move money between their mobile wallets and bank accounts. Mobile financial services users are also able to hold more money in their wallets and the total monthly limit for transactions was also removed. The various limits were originally introduced to stem cases of money laundering and the central bank has said it has increased its surveillance after their removal to ensure compliance. Kenya has so far reported just over 5,000 cases of the COVID-19 disease. Source: reuters.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: Kenya, M-pes, mobile money Continue Reading Previous Africa’s Favorite Premier League TeamsNext 4 Ways Proper Regulated Gambling Markets Benefits Africa More Stories EXPERTS SOUTH AFRICA South Africa starts regulating cryptocurrency exchanges 2 days ago Samuel EXPERTS GHANA TransferGo expands money transfer service to Africa 2 days ago Samuel EXPERTS KENYA 5G Technology Gives Rise To Sports Betting In Africa 3 days ago Szarlot EXPERTS TUNISIA The prospects of gambling legalisation in Arab countries 4 days ago Szarlot KENYA ONLINE Safaricom launches M-PESA Go a product for kids aged 10 to 17 years 5 days ago Szarlot KENYA LOTTERIES How much do people spend on lottery tickets over a lifetime 5 days ago Samuel EXPERTS ZIMBABWE African telcos target minors with new mobile money solutions 5 days ago Szarlot EXPERTS WORLD NEWS BMM Testlabs opens new gaming laboratory in India 6 days ago Szarlot EXPERTS SOUTH AFRICA Suspect arrested for robbery and impersonating Gambling Board official 6 days ago Samuel EXPERTS TANZANIA Which way betting? The big debate 1 week ago Samuel EXPERTS NIGERIA MoMo taps bill payment to broaden offerings, promote financial inclusion 1 week ago Samuel EXPERTS WORLD NEWS Slotegrator presented digital solutions of the future at SiGMA 1 week ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.