Safaricom has updated its mobile money transfer service M-Pesa to enable customers to automatically receive information on the cost of each transaction. The move follows other service providers like Uber and also their own Little that employ transparency in their pricing to help inform customers transactions.
The updates will be made available to all 24 million M-Pesa customers in three phases, with the first phase starting this week.
“As we align with recommendations made by the Competition Authority of Kenya (CAK), we hope that this latest innovation will enhance the customer experience on the M-Pesa platform. This follows a number of proactive enhancements we have delivered on M-Pesa such as Hakikisha which have reduced the number of erroneous transactions,” said Stephen Chege, Director – Corporate Affairs, Safaricom.
Customers will first receive notifications on charges paid for a transaction as part of the M-Pesa confirmation message.
In the second phase, customers will receive a pop up message informing them of any charges prior to the transactions, while the third phase will see the service being made available to value-added M-Pesa financial products including M-Shwari, KCB M-Pesa, Okoa Stima and M-Tiba.
The second and third phases of the update will be rolled out in coming months.
The changes are part of the enriched second generation M-Pesa system which was implemented in April 2015. In addition to increasing M-Pesa’s transactions capacity, the new system has improved system stability, enabled the support of more features and the rollout of new features on the system.