Traditional and mobile banking institutions have been urged to be transparent in their dealings by the business regulator, Communications Authority of Kenya (CA). This, according to Kachwanya.com, has resulted in Safaricom Limited updating mobile money transfer service, M-Pesa, to be in line with the regulators directive.
Steephen Chege, Director, Corporate Affairs at Safaricom said, “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.”
Changes implemented by Safaricom will include uses being able to know beforehand the cost of a transaction before you go through with it. The M-Pesa confirmation message will now also display the charges to be accrued for that specific transaction. This will be in addition to the name check feature, Hakikisha that was previously rolled out.
Safaricom will then add a pop feature that notify’s customers of charges they might incurred. And then finally Safaricom implement the features in all M-Pesa products. Customers will be able to make use of the feature from M-Shwari, KCB M-Pesa, Okoa Stima and M-Tiba.