Telecommunications giant Safaricom has began talks with the Central Bank of Kenya CBK to review the limit imposed on mobile money transfers.
According to Safaricom, the call to increase maximum limit will give customers an opportunity to transact larger mobile amounts.
Safaricom Chief Customer Officer Sylvia Mulinge said that they are engaging with central bank and that they hope CBK will consider their application favourably because it is the cry of Kenyans to transact more.
Currently, the maximum amount a customer can send in one transaction is Ksh.70,000, with the maximum daily limit pegged at a Ksh.140,000.
Users on the other hand can only hold upto a Ksh.100,000 in their M-Pesa account. The platform addition handles more than seventeen million transactions daily.