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New M-pesa Transanction Policies

SK 3 years ago 1 min read

Safaricom implemented changes that limit access to M-Pesa statements on Friday, June 10th.

The operator informed users that they would no longer receive monthly M-Pesa statements via email. In the future, M-Pesa statements will only be available upon request. The modifications will go into effect on July 1, 2022.

M-Pesa monthly statements are currently sent to customers’ email addresses as PDF files. Customers must enter their ID number, however, in order to view the data.

Users can also access their M-Pesa statements for the previous three, six, or twelve months by dialing *334# and selecting ‘My Account’ at any time. Safaricom stated in a consumer communication that this channel would continue to be the only way to view your M-Pesa statement.

In response to growing customer concerns about the security of their data, the company has apparently implemented a series of measures aimed at improving consumer privacy and security in recent months.

It announced plans earlier this year to conceal the identities of clients making payments via its Lipa na M-Pesa network, but this has met with opposition. The changes were supposed to go into effect at the end of June, but Safaricom encountered technical difficulties, causing the plans to fall through.

Unlike now, when merchants can see consumer information such as their full registered name and phone number, Safaricom intends to provide only the customer’s first name and a few digits of their phone number, effectively concealing their identity.