Airtel has amended their pricing for person to person transfers and Airtel Money wallet to bank as per the guiding principles on pricing issues by CBK last week.
All Airtel Money customers will starting January transfer without any charges up to Sh100 to any customer and network with no daily limit to the number of such transactions.
Additionally, all transactions from Airtel Money wallets to customers’ bank accounts will be free of any charge.
In a statement, Airtel Kenya said that these new measures will help Kenyans manage better the economic shocks presented by the Covid-19 pandemic and will help in maintaining the growth of cashless transactions.
“We remain committed to working together with all key stakeholders in ensuring that Kenyans continue to stay safe as well as economically stable during these unprecedented times,” Airtel said.
Last week, CBK said that providers will reinstate sending fees but will not charge for transactions below Sh100.
“Following consultations with Payment Service Providers (PSPs), CBK will allow the emergency measures to expire on December 31, 2020,” CBK said.
Banks will however continue offering free transfer of cash between accounts and mobile wallets while Saccos will charge for transactions.
The waiver was introduced in mid-March for three months but was extended in June to December as a measure to encourage use of electronic money in efforts to curb the spread of Covid-19.
The measure also served to cushion vulnerable Kenyans from costs associated with the transfers from Banks and Telecoms.
Since the introduction of the waiver, the volume of person-to-person transactions increased by 87 percent between February and October 2020, CBK said.
Over the same period, the volume of transactions below Sh1,000 increased by 114 percent, with 2.8 million additional customers using mobile money.