A customer transacts at an M-Pesa Shop. [Courtesy]Safaricom paid Sh28.2 billion in commissions to M-Pesa agents last year, up from Sh23.8 billion that it paid in 2019. The company last year recorded Sh82.5 billion in M-Pesa revenue, two per cent lower than the Sh84 billion made in 2019, with the firm attributing this drop to the waiver of fees on cash transfers and Lipa Na M-Pesa transactions of below Sh1,000. The telco said the first half of the financial year saw an increase in activity on the M-Pesa system as customers took advantage of the free transfers and Lipa na M-Pesa transactions. “Total M-Pesa transaction value grew 58 per cent year-on-year to Sh22.04 trillion, while the volume of transactions grew 29.8 per cent year to 11.68 billion,” said the firm in its latest financial results.

Source: Standard Digital May 21, 2021 03:56 UTC