MOBILE MONEY TRANSACTIONS EXTENDED TO DECEMBER 2020 BY CBK.

The three months period that had been set by the CENTRAL BANK OF KENYA as measures to curb the spread of COVID-19 on March elapsed mid this month.

CBK has revealed that mobile money transactions of Sh1,000 and below usage has increased as the charges had been eliminated.This has helped in cushioning the helpless from the economic crisis brought about by the novel Corona virus.

Further there has been an increased wallet and transactions limits that have led to increased usage at higher amounts and greater convenience.

CBK has determined that the wallet and transaction limits that were announced on March 16, 2020.

There will be no charges for Mobile Money transaction of up to Sh1,000 during the extended period.

Payment Service providers and Commercial Banks will not charge for transfers between mobile money wallets and bank accounts and tariffs for transactions above Sh70,000 will remain.

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