Airtel Money, the mobile money service from Airtel Kenya, has received approval from the Central Bank of Kenya to increase its mobile money limits. Customers can now hold up to KES 500,000 (approximately $3,400) in their wallets, and daily transaction limits have been raised to KES 500,000 as well. However, individual transaction limits remain at KES 150,000 ($1,043). This move comes after Safaricom's M-PESA also raised its wallet and daily transaction limits to the same amounts. Airtel Money aims to empower customers and partners with increased flexibility for conducting larger transactions and managing finances more effectively. Despite efforts to level the playing field in the mobile money sector, M-PESA remains dominant, holding a market share of 96.5%, while Airtel Money commands 3.4% and T-Kash holds 0.1%. Discussions about agency interoperability and opening M-PESA's agency network to competitors have surfaced but have yet to yield significant changes in the market landscape.
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