M-Pesa Ratiba: Safaricom announces the fees for its new service

• Safaricom PLC has launched M-Pesa Ratiba, a standing order service that allows customers to automatically schedule payments for recurring bills and transactions.
• An M-Pesa customer using the service has raised concerns about the fees charged by the new service, saying they are expensive
• Safaricom explained to TUKo.co.ke that the service incurs a fee of KSh5 above the normal M-Pesa transaction fee.

TUKO.co.ke journalist Wycliffe Musalia has over five years of experience in financial, business and technology journalism and offers in-depth insight into Kenyan and global economic trends.

Kenyans using the recently launched M-Pesa Ratiba services must pay a flat fee on top of normal transaction fees.

Safaricom PLC has announced new service fees after its launch to facilitate bill payments and transactions for M-Pesa customers.

What are the transaction fees for M-Pesa Ratiba?

Addressed exclusively to TUKO.co.keSafaricom revealed that M-Pesa Ratiba charges a standard fee of KSh5 per transaction.

These fees are in addition to normal transaction fees (sending money, invoice or Lipa na M-Pesa).

“There will be a standard M-PESA Ratiba fee of KSh5 per transaction (sending money, Paybill, Lipa na M-PESA) above the normal M-PESA transaction fee,” Safaricom responded to TUKO.co .ke

A service with a transaction fee of KSh20 requires a customer using M-Pesa Ratiba to pay an additional KSh5, bringing the fee to KSh25.

What are the terms of use of M-Pesa Ratiba?

Earlier, an M-Pesa customer raised concerns over the fees charged by the new service, saying they were expensive.

“M-Pesa Ratiba iko na transaction fee kubwa aje aiii (Why are the transaction fees for M-Pesa Ratiba so high?), Simon Kakai asked in response to a Safaricom Facebook post.

In response, Safaricom shared the terms of the M-Pesa Ratiba service, saying they incur the fees paid by the customer.

“Standard and existing fees for payment, purchase of goods and sending money services will apply to transactions carried out under the M-Pesa Ratiba service,” the terms read in part.

Why Safaricom cannot disclose details of M-Pesa transactions

Meanwhile, an M-Pesa customer raised concerns after she was robbed and her money sent to unknown numbers, and Safaricom failed to issue a detailed statement.

The telco noted that M-Pesa’s statements do not disclose full transaction details, in line with data privacy regulations.

Addressed exclusively to TUKO.co.keSafaricom explained that some of the phone numbers in the statement are withheld for privacy reasons.

Source: TUKO.co.ke