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CBK Gives New Directive on Mobile Money Transactions
Central Bank of Kenya (CBK) building in Nairobi.
Simon Kiragu
Kenyans.co.ke
The Central Bank of Kenya (CBK) has announced the resumption of charges for transactions above ksh.100 for Savings and Credit Co-operative Societies(SACCOs) through a bank s individual mobile money wallet on Thursday, April 1.
This payment method enables a bank to integrate its financial services with other financial institutions. The bank money wallets are closely linked to the credit societies sector.
This comes as a relief for SACCOs as they facilitate loans for a membership need for short-term capital and lack alternatives to connect with the mobile money ecosystem.
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