Airtel Money has announced a significant reduction in its paybill, bulk payment, and wallet to bank charges. This announcement comes about a week after Airtel Money raised withdrawal and transfer charges when sending money to users on other networks.
Reducing Paybill and wallet to bank charges can make Airtel Money more affordable and competitive. This is especially so for those who want to save some money in these tough economic times. M-pesa, the dominant mobile money solution, is not the most affordable platform and has not been for a while. It enjoys an extensive network of agents and this has been its main advantage over the years. Airtel wants to disrupt this by offering affordable rates to its customers.
“This move reaffirms our continuous commitment in supporting our customers especially with the prevailing economic challenges. Airtel Money will continue providing flexible and personalized solutions while at the same time delivering exceptional services and value for their money.” Said Airtel Money Kenya MD Anne Kinuthia-Otieno.
Airtel Money’s revised charges are structured to cater to a wide range of transactions. Here is a breakdown of the new charges based on different tariff bands and transaction limits:
| Tariff Bands and limits in KES | New Paybill and Wallet to Bank Charges in KES | |
| – | 9 | 0 |
| 10 | 49 | 0 |
| 50 | 100 | 0 |
| 101 | 500 | 4 |
| 501 | 1000 | 9 |
| 1,001 | 1,500 | 12 |
| 1,501 | 2,500 | 13 |
| 2,501 | 3,500 | 20 |
| 3,501 | 5,000 | 20 |
| 5,001 | 7,500 | 33 |
| 7,501 | 10,000 | 37 |
| 10,001 | 15,000 | 57 |
| 15,001 | 20,000 | 62 |
| 20,001 | 25,000 | 67 |
| 25,001 | 30,000 | 72 |
| 30,001 | 35,000 | 95 |
| 35,001 | 40,000 | 99 |
| 40,001 | 45,000 | 103 |
| 45,001 | 50,000 | 105 |
| 50,001 | 70,000 | 105 |
| 70,001 | 150,000 | 105 |
| 150,001 | 250,000 | 105 |