Updated 1 November 2026
M-Pesa agents and the companies behind them work under the National Payment System Regulations, 2014, issued by the Central Bank of Kenya (Legal Notice No. 109 of 2014). Those rules stop Safaricom and other mobile money providers from mixing your money with their own, lending it out, earning interest from you, or blaming an agent when something goes wrong. Most users never see these rules, yet they are why your M-Pesa balance is protected. Here are eight, with the regulation number for each.
Updated November 2026. Source: National Payment System Regulations, 2014 (Kenya Subsidiary Legislation, 2014), published by the Central Bank of Kenya at centralbank.go.ke.
What M-Pesa agents and providers can’t do
1. Hide behind the agent when things go wrong
Regulation 14(4) makes a payment service provider liable to its customers for the conduct of its agents within the agency agreement. Regulation 14(5) adds that the agency contract cannot exclude the provider from that liability. If an agent mishandles your deposit or withdrawal while acting as an agent, your complaint goes to the provider, not just the shop owner.
2. Lock an agent into one network
Under regulation 15(2), a contract between a provider and a cash agent cannot be exclusive. Regulation 15(3) lets an agent serve several providers, as long as it has a separate contract with each and can manage the transactions. That is why one kiosk can offer M-Pesa, Airtel Money and bank agency side by side.
3. Operate as an agent without being registered
Providers must notify CBK at least 14 days before enlisting a new agent (regulation 16) and keep records of every agent’s name, address, outlets and managers, plus a register of suspended or terminated agents (regulation 19). CBK may put this information in a public register. The provider must also train its agents and oversee them.
4. Skip anti-money-laundering checks
Regulation 16(2)(c) requires the provider’s agent policies to comply with the Proceeds of Crime and Anti-Money Laundering Act, 2009 and the Prevention of Terrorism Act, 2012. That is the legal basis for an agent asking for your ID before a withdrawal or deposit, and refusing if you can’t show it.
5. Mix your money with company money
Regulation 25 requires an e-money issuer to set up a trust and hold all customer money in a trust fund. The trust balance can never fall below what is owed to customers, and the money cannot be moved into the company’s operating account or mixed with anyone else’s funds. If the provider ran into trouble, your balance sits apart from its own assets.
6. Earn interest from you on your e-money
Regulation 44 says e-money must be redeemed at par, so KSh 1,000 on your phone is always worth KSh 1,000 in cash, subject to the service terms, and that an e-money issuer cannot earn interest or any other financial return from the e-money holder.
7. Lend or invest your balance
Regulation 45 bans an e-money issuer that is not a licensed institution from lending or investing, other than as the regulations require. That is why M-Pesa credit products such as Fuliza and M-Shwari are provided by licensed banks rather than from M-Pesa balances.
8. Leave a stuck transaction unexplained
The regulations require electronic retail transactions to be executed in real time. Where a transaction can’t be completed in real time, the provider must tell the payer about the delay and the period within which it will be completed or cancelled. Regulation 43 also sets default e-money limits (KSh 70,000 per transaction and KSh 1 million loaded a month) while allowing CBK to approve higher limits for specific issuers; check the provider’s current tariff for the limits that apply to you.
How to use these rules
- If an agent short-changes you or a deposit doesn’t reflect, keep the transaction message and agent number and report to the provider’s customer care first.
- Ask the provider for a reference number and a timeline; it is responsible for its agent’s conduct.
- If the provider does not resolve it, you can escalate to the Central Bank of Kenya, which supervises payment service providers.
Know your costs too: see M-Pesa send money charges, the M-Pesa charges calculator, and how to send money on M-Pesa.
Frequently asked questions
Is Safaricom responsible if an M-Pesa agent cheats me?
Under regulation 14(4) of the National Payment System Regulations, 2014, a payment service provider is liable to customers for its agents’ conduct within the scope of the agency agreement, and the agency contract cannot exclude that liability.
Is my M-Pesa money safe if Safaricom has problems?
The regulations require customer e-money to be held in a trust fund, never less than what is owed to customers and never mixed with the company’s own funds.
Can an M-Pesa agent work for Airtel Money too?
Yes. Agency contracts cannot be exclusive, and an agent may serve several providers with separate contracts for each.
Why does an M-Pesa agent ask for my ID?
Agents must follow anti-money-laundering law, which requires identifying customers. The regulations tie agent policies to the Proceeds of Crime and Anti-Money Laundering Act, 2009.
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