Western Union lowers money transfer charges to just 2% in Kenya.
In an obvious move to stay relevant (and competitive) against the growing dominance of mobile payment services in the form of Safaricom’s M-Pesa and Zain’s Zap, Western Union has massively lowered its money transfer rates within Kenya to just 2% of the value being transferred. The new rate applies to transfers from as little as Kes. 100.00 to a maximum of Kes. 500,000.00.
The reduced rate which became active on the 1st June 2009 is applicable to over 500 Western Union agent locations throughout Kenya. What remains to be see is if users on Zain’s Zap and Safaricom’s M-Pesa will even consider using Western Union since the convenience and ubiquity of mobile-based transactions in Kenya make for a very compelling value proposition. More details can be found at Western Union’s Kenya web site here >
The Author
7 Comments
Western Union should forget about the domestic market in Kenya. Instead they should aim to reduce the international charges for Kenyans like me residing abroad who want to send back remittances. We have a huge problem sending money to our Kenyan colleagues despite the technology being available. The costs are outrageous. In the Netherlands for example sending €100 means I have to part with upto €18 commission charges which makes no sense at all. With mobile payments the cost of sending remittances could be reduced to 2% of sum to be sent then they would earn even more as people would increase the number of transactions. Unfortunately Europe is behind Kenya in this respect. The Netherlands has no mobile payments system that I am aware of. Kenya is indeed far ahead in this respect.
western union is not very common especially in kenya now.The mobile payment through m-pesa within kenya is becoming more convinient,affordable and even cheaper and really catering for remote area residents.
It is so uutrageous sending remittances from middle east to kenya and like any other places abroad.The technolgy,which is entering into the kenyan market would give a stronger base to microbusiness in respect to the viability factors
Jellyfish, why don’t you try Dahabshiil. They do take a big chunk of commission, but it is less than Western Union. http://www.dahabshiil.com/
i want to send ksh 20,000 to dubai.what are the charges
I want to send Ksh. 3000 to filipines. What are the charges.
i want to send EURO 200 TO KENYA what are the charges i am in austria
i want to send $ 740 to china. what is the cost