Any M-pesa account holder can now receive money from almost anywhere in the world at their convenience.
Through the M-pesa Global initiative M-pesa has partnered with various international money transfer services to allow faster and more convenient money transactions between Safaricom customers and any part of the world.
According to the financial report for the financial year ended June 2018, remittances reached an all time high of USD.2,438 million, an increase of 38.6% as compared to the previous year.
Knowing well the huge role M-pesa has played in the growth of Kenya's economy, it is expected that through the various key partnerships that have been realized as a result of M-pesa global, the overall remittances from abroad are expected to rise.
Mpesa global makes it even much better for Kenyans abroad who would like to send money back home more often for whatever reason.
Also read:This is how to send money to M-pesa with worldremit.
Due to it's flexibility, M-pesa makes it easier for recipients to access their money. With Lipa na mpesa, they can start shopping or paying bills immediately, or if they need cash they can easily make a withdrawal on any of the many M-pesa agents countrywide. There is no need to travel to a pick up location like banks as it used to.
Initially, remittances would cost both the sender and the recipient. But with Mpesa global, the recipient will not be subjected to any transaction charges, only the normal M-pesa withdrawal fees.
Direct international deposits to any mpesa account will reflect immediately, with both the sender and the recipient getting transaction notifications. This has greatly reduced the transaction time which initially has been not less than three days. It also greatly eliminates risks associated with money in transit.
So far, mpesa global has partnered with various international money transfer services including western union, worldremit, PayPal, skrill,xpress money and many more.
Considering that many Kenyans now earn money online, M-pesa PayPal partnership was a highly welcomed move. Apart from withdrawing money from their PayPal accounts to mpesa, they can also make direct PayPal mpesa deposits with lipa na mpesa.
Android users can also pay for apps directly on the play store with mpesa, and recently mpesa has partnered with China's Aliexpress to allow customers pay for goods on the platform with mpesa.
Mpesa global charges.
For any mpesa global transactions, the sender will be charged as follows:
Min. Max. Charges.
100. 5,000. 100
5,001 15,000 250
15,001 35,000 350
35,001 70,000 500
When you send money to any M-pesa account, the recipient will receive it in Ksh.
As a result of mobile money transfer restrictions in Kenya, an M-pesa account is not allowed to receive more than Ksh. 70,000 in a single transaction, and cannot hold more than Ksh.100,000 at any one given time.
For M-pesa users, Mpesa global is available under USSD *840# or under Mpesa global on my Safaricom app.
All Kenyan mpesa account holders can also send money to any mobile wallet in Tanzania, Uganda and Rwanda.
They can also make direct bank deposits to any bank account in the United Arab Emirates, United Kingdom and Germany.
This list is expected to grow with time.
Your thoughts on Mpesa global? Feel free to share on the comments section below.
Comments
Post a Comment