Safaricom Revamps M-PESA Transfers for Improved Security and Convenience
Starting February 5th, 2024, Safaricom has introduced changes to its M-PESA money transfer system aimed at providing a more secure and convenient experience for users across its network.
Under the new system, users will no longer be able to send funds to unregistered mobile money users on the Safaricom, Airtel, and Telkom networks. Previously, unregistered users would receive a voucher message via SMS, which had to be redeemed at an M-PESA Agent within 7 days. This redemption process is now obsolete.
The motivation behind this change lies in two key areas:
- Improved User Experience: Safaricom aims to enhance user experience by eliminating the voucher system, which often caused confusion and inconvenience due to expiring vouchers and redemption difficulties.
- Enhanced Security: The company’s decision aligns with regulations set by the Central Bank of Kenya, prioritizing the security of transactions and ensuring peace of mind for all users.
