Effective Monday, Safaricom has implemented a significant change to its M-Pesa mobile money platform that mainly affects unregistered mobile users.
Customers will no longer be able to send funds to unregistered mobile accounts, marking a major step towards bolstering security and financial inclusion within the Kenyan mobile money ecosystem.
This decision, announced by Safaricom in a statement, aims to combat fraudulent activities and enhance transparency within mobile money transactions.
While unregistered users will be restricted from receiving funds directly via M-Pesa, registered customers retain the ability to send and receive money seamlessly across different mobile money providers like Airtel and T-Kash.
"Effective February 5th 2024, you will no longer be able to send money from M-Pesa to unregistered mobile money customers," Safaricom emphasized in the statement.
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"We encourage individuals who haven't registered for M-Pesa services to do so promptly by visiting a Safaricom Shop or an authorized M-Pesa agent with their valid identification documents."
This policy shift is expected to have a significant impact on Kenyans who rely on mobile money for everyday transactions.
While some may view it as an inconvenience, particularly those who occasionally send funds to unregistered recipients, the long-term benefits of increased security and financial inclusion cannot be overstated.
By promoting user registration, Safaricom aims to create a more transparent and reliable mobile money landscape, fostering trust and encouraging wider adoption of this critical financial tool.