The new card is in partnership with Visa whom Safaricom partnered in 2020 to launch digital products in Kenya. The exchange rate will depend on the exchange rate at the time of making the payment. The use of the card will not attract direct transaction fees but customers will be charged a 3.5% forex fee. 150,000 per transaction and maximum transaction amount per day of Ksh. The card will have the same transactions limits that M-PESA has, which is a maximum of Ksh. The M-PESA Visa Virtual Card will be able to make International payments and will enable M-PESA customers to be able to make card payments direct from their M-PESA accounts. The M-PESA Visa Virtual Card was first announced by Safaricom CEO Peter Ndegwa as he was releasing the company’s FY 2022 financial results. Telecommunication company Safaricom has launched the M-PESA Visa Virtual Card, which is a debit card that is able to card payments.
