CBE reports EGP 112.7 billion in InstaPay transactions over one year

MENA , Sunday 26 Mar 2023

The Central Bank of Egypt (CBE) has announced that transactions worth EGP 112.7 billion were conducted via its InstaPay app over a year.

Egypt s Central Bank
File Photo: Egypt s Central Bank. Al-Ahram


According to the CBE's statement, 2.16 million registered users carried out 20.3 million transactions.

Of these transactions, 70 per cent were made outside official working hours, with the remaining 30 per cent taking place during official hours.

The National Instant Payment Network and InstaPay mobile application were launched by the CBE last year, enabling clients to process electronic fund transfers seamlessly and instantly at any time.

InstaPay is the first payment service provider mobile application licensed by the CBE via the National Instant Payment Network.

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