The Absa Bank Kenya has increased the transaction limit on its Timiza mobile wallet from Sh. 150,000 to Sh. 250,000.
The increase on Timiza limit comes hot in the heels of similar transaction limit increases by Safaricom and Airtel Kenya.
According to Absa Bank, the increase in transaction limit is a response to customer needs as well as the evolving market in the mobile loans sector.
“By implementing the increase in transaction limits, we are conscious of the need to be responsive to customer needs but also the growing need to transform into a digitally powered business. It will also make banking on the go more efficient and convenient for our customers,” Absa Bank’s head of digital channels Steve Omamo said.
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Safaricom and Airtel recently reviewed the daily total transaction limits on their mobile wallets from Sh. 300,000 to Sh. 500,000 after obtaining the nod from the Central Bank of Kenya.
Recently, Absa Bank unveiled an automated teller machine (ATM) withdrawal option on Timiza. This allows Timiza subscribers to withdraw funds from any Absa Bank ATMs.
“As Absa, we aim to ensure that our customers can do more on our platforms as we strive to provide them with the best possible service and competitive products,” said Omamo.
“Our key priority remains to become a truly customer-obsessed financial institution that places the customer at the centre of every decision, giving them a voice and a platform to shape Absa’s products and services with their evolving needs in mind.”
