Safaricom discontinues M-Pesa transactions to unregistered individuals

By
Diana Mutheu
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0
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Safaricom has implemented a new policy preventing M-Pesa users from sending money to unregistered individuals.

This policy extends to users of Airtel Money and T-Kash, operated by Telkom, impacting a broad spectrum of mobile money services in the country.

Via its X official account, the country”s leading telecom provider, clarified that M-Pesa users can no longer conduct transactions with different mobile money providers like Airtel and T-Kash, discontinuing the ability to send money to unregistered Safaricom customers, a service previously allowed.

While M-PESA has not explicitly detailed the reason behind this policy change, it is speculated to be a security measure, aimed at addressing potential risks associated with unregistered SIM cards being used for untraceable mobile money transactions.

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As of September 2023, Kenya reported 38.1 million mobile money subscriptions, with M-Pesa holding a significant market share of 96.5% in Q2 2023, followed by Airtel Money (3.4%) and T-Kash (0.1%).

Despite attempts to promote mobile money interoperability, Airtel Money and T-Kash have struggled to gain traction, possibly due to their limited cash withdrawal and deposit center network.

Notably, Safaricom’s M-Pesa service has faced recent outages, prompting complaints on social media platforms.

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