What is M-PESA?
M-PESA Kenya is a mobile payment service that allows you to save, transfer, and accept funds using your phone. You may move funds and shop for products and services with your M-PESA account. You may also withdraw money from an agent (typically a convenience store) or send it to others via your phone. As a result, making payments and handling finances is quick, safe, and straightforward.
Facts about M-PESA
M-Pesa is one of the unique tools developed within Eastern Africa and other parts of collaboration between telecoms and banking sectors.
It began in Kenya, and it has now expanded to other nations, including India and Romania.
Banking products and services, such as M-Pesa, can now be accessed at low costs since to advances in technology in the banking industry.
Unbanked persons can use M-Pesa can pay for and get products and services without going to a bank.
How does M-PESA work?
M-PESA is a virtual banking system (mobile money service) that allows users to perform transactions using a portable phone’s SIM card. This must be done using a Safaricom Local sim in Kenya. The SIM card is put into the cell device’s card slot, and users may utilize Emails and texts to acquire and save money, make payments, and transfer funds to vendors and close relatives.
It’s beneficial for people who don’t have a bank account and reside in rural areas. They could use M-PESA at any of the country’s many M-PESA shops. Money to be saved is given to a kiosk operator, who digitally transfers the amount to their M-PESA account on their phone.
Is M-PESA a secure way to send money to Kenya?
Money sent to Kenyan relatives or friends via M-PESA is maintained in a ring-fenced account, often called a trust account, where it is kept safe. Every customer’s contact information is tied to this profile. The value of an individual’s accounts also is securely monitored by the central platform. Although if their phone or SIM card is lost, the money would still remain in their M-PESA account.
M-PESA has several advantages
M-PESA is a low-cost, fast, and secure way to pay, transfer, receive, and keep money in Kenya. M-PESA is an electronic and real-time money transfer service that allows you to send money to relatives or friends that live, work, or travel in Kenya significantly quicker than a typical bank transfer. Every transaction is additionally secured and signed with a PIN, which contributes to the overall security of the process.
How to Send Money to Kenya Via M-PESA
Juba Express avails this product to its clients. For you to enjoy M-PESA services through Juba Express, kindly visit the Juba Express agent near you. To find an agent, visit www.jubaexpress.com.
M-PESA Transaction Limit
The new Mpesa transaction limit is now Ksh 150,000. The daily Maximum is Ksh 300,000. Also, you can now hold up to Ksh 300,000 in your M-PESA wallet.