Side-by-side comparison
Structural facts only. Where a specific KES tariff would move, we say "tariff bands apply, verify current" and point to the operator page. Verifying a moving figure once is worth more than trusting a number a blog copy-pasted two years ago.
| Attribute | M-PESA | Airtel Money | T-Kash |
|---|---|---|---|
| Operator | Safaricom | Airtel Kenya | Telkom Kenya |
| Regulator | CBK | CBK | CBK |
| Market share | Dominant (majority) | Second | Small (third) |
| USSD | *334# (Safaricom SIM) | *334# (Airtel SIM) | *334# (Telkom SIM) |
| App | New M-PESA app + M-PESA on Safaricom OneApp | Airtel Money app | T-Kash via Telkom app + USSD |
| Customer care | 100 or 234 | 100 | 160 (free) |
| Same-network send | Tariff bands (see mpesa-charges-2026) | Free (Airtel to Airtel) | Tariff bands, verify current |
| Cross-network send | Tariff bands apply, verify current | Tariff bands apply, verify current | Tariff bands apply, verify current |
| Paybill payment | Lipa na M-PESA, tariff bands | Lipa na Airtel Money, tariff bands (Nov 2023 rate cut) | Yes, tariff bands, verify current |
| Agent withdrawal | Tariff bands | Tariff bands | Tariff bands |
| Overdraft | Fuliza (live) | Airtel Money Overdraft (planned, not yet live per mobilemoney.co.ke Jul 2026) | None published |
| Savings / lending | M-Shwari, KCB M-PESA, Ziidi | Limited (partner integrations) | None published |
| Fee refund | None | Rudishiwa (fee refund on qualifying tx) | None published |
| Interop | Live since 2018 | Live since 2018 | Live since 2018 |
| Agent density | Highest, nationwide | Solid in urban, thinner rural | Sparse, urban-lean |
Fees, honestly
Every published comparison of Kenyan mobile money fees goes stale within a quarter because the operators reprice bands. Rather than name figures that will be wrong in six months, the honest guidance:
- Airtel to Airtel is free. This is the one fee statement that has been stable and is worth building around if a big share of your contacts are on Airtel.
- Cross-network sends are all banded. M-PESA to Airtel Money, Airtel Money to M-PESA, T-Kash to either, all live under CBK interoperability, all follow tariff bands published by the sending operator. Verify current on the sending operator's site.
- Withdrawal is where most Kenyans actually spend on fees. The send-tariff is often small compared to the cash-out fee at the agent on the other side. Compare withdrawal schedules if you cash out often.
- Paybill tariffs got rate cuts. Airtel cut Lipa na Airtel Money in November 2023; both M-PESA and Airtel refreshed customer paybill charges through 2024. Trust the operator's current sheet, not a WhatsApp screenshot from 2022.
Coverage and agents
This is the honest gap. M-PESA has the majority of Kenyan mobile money agents; Airtel Money has enough for urban and peri-urban comfort; T-Kash is sparse outside the biggest towns. If you travel across counties or bank in rural markets, agent density is a bigger variable than tariffs. The two-minute test: search your regular locations for "M-PESA agent" then repeat for the alternative, compare what you actually find on the map.
Overdraft (Fuliza is still alone)
Fuliza (Safaricom M-PESA) has been live since 2019 and remains the only mobile-money overdraft actually operating in Kenya. Airtel Money Overdraft is listed as coming on mobilemoney.co.ke as of July 2026 but is not yet live. T-Kash has not published an overdraft product. If "can I finish this payment when my wallet is short" is a real use case for you, M-PESA is the only choice today. Verify Airtel Money Overdraft launch status before assuming.
Product depth
Beyond wallet basics, M-PESA runs a stack: M-Shwari (savings + lending), KCB M-PESA (larger loans), Ziidi money market fund, deep bank interop, and the developer Daraja API. Airtel Money and T-Kash have not matched that stack; the choice narrows to core wallet-plus-interop for both.
USSD and app
The USSD confusion is worth naming: *334# on a Safaricom SIM opens M-PESA; the same *334# on an Airtel SIM opens Airtel Money; on a Telkom SIM it opens T-Kash. Same string, three services, decided by the SIM you dial from. On a dual-SIM phone, pick the right SIM before dialling.
Apps: the new M-PESA app is the primary Safaricom surface, Airtel Money app is Airtel's primary surface, T-Kash lives inside the Telkom app plus USSD. All three support the common wallet ops (balance, send, pay bill, buy airtime, statement).
Honest verdict, per user type
- Most Kenyans: M-PESA as primary. Agent density and merchant reach beat the tariff differences for the average user. Add Airtel Money as a secondary if you need free Airtel-to-Airtel sends.
- Airtel-heavy circle: Airtel Money as primary. Free Airtel-to-Airtel sends compound quickly, Rudishiwa refunds real fees, Lipa na Airtel Money paybill is usable. Accept the smaller agent network in trade.
- Telkom subscriber, small footprint: T-Kash works as a primary. Free wallet-to-wallet with other T-Kash users, interop for the rest, honest tariffs at tkash.telkom.co.ke. Do not expect the depth of M-PESA.
- Business owner accepting paybill payments: M-PESA paybill is the default because customers are on it. If you can, get an Airtel Money paybill mapped too, it is not much overhead and it opens the Airtel wallet base.