You want to send money to your Tanzanian relatives but are fed up with having to travel to transfer points and paying high fees? We have the answer. Everything you need to know about mobile money and the Tanzanian Mpesa can be found here!
Mpesa service in Tanzania
Mpesa is a mobile money transfer and microfinance system developed by Safaricom and Vodacom, the two largest mobile phone operators in Kenya and Tanzania, and launched by Vodafone. Mpesa is used by over 5 million Tanzanians, making it the most dependable service in the country.
Through a wide range of global partners, you can easily send or receive money instantly to or from your Mpesa wallet from over 160 nations.
When you use an M-pesa wallet, you can send and receive money directly without having to go to a bank or bus station (as traditional Tanzanian users do). Because the funds are sent directly to the mobile money wallet of the recipient, all of the dangers that come with handling and transferring cash are avoided.
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M-pesa is much less expensive than other methods for sending money to Tanzania. The cash is given to the recipient without charge. The recipient in Tanzania receives the funds immediately, free of charge, in their native currency.
Since currency conversion is done automatically within the M-Pesa platform, there is no need for a recipient in the destination nation to visit a currency exchange office once funds have been received.
All the rates of Mpesa Tanzania
The amount of money transferred affects the cost of the transaction. Whether or not a user of the service is registered is different.
Depending on the number of users and the amounts, transaction fees range from 66% to 6%:
- To 66% of the transaction value for a transfer to an unregistered user.
- To 30% of the transaction value for a transfer to a register user.
List of Mpesa tariffs and charges in Tanzania