InstaPay
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| Developer(s) | Egyptian Banks Company |
|---|---|
| Initial release | March 2022 |
| Operating system | Android, IOS |
| Website | www |
Instapay is a mobile application launched by Central Bank of Egypt (CBE) in March 2022.[1][2][3][4] It enables instant electronic payments and transfers. It operates on the Instant Payment Network (IPN), a system developed by the Egyptian Banks Company under the guidance of the CBE. The service allows users to transfer funds between bank accounts, cards, and mobile wallets 24/7, with transaction limits of up to EGP 70,000 per transaction, EGP 120,000 daily, and EGP 400,000 monthly per bank.[5]The app also accepts payment from outside Egypt.[6]
The application was introduced to reduce dependency on cash and promote digital financial transactions across Egypt. It is the first mobile application licensed by the CBE as a payment service provider via the IPN.[4]
References
[edit]- ^ Abdulghany, Aya (2022-03-24). "CBE launches InstaPay towards fulfilling its fin. inclusion ambitions". egy-africa. Retrieved 2025-03-26.
- ^ "Central Bank of Egypt approves new InstaPay feature". thepaypers.com. 2025-03-26.
- ^ "Egypt's central bank launches service for instant int'l money transfers". Business Today. 2024-12-05. Retrieved 2025-03-26.
- ^ a b "CBE launches InstaPay app for bank clients - Tech - Business". Ahram Online. Retrieved 2025-03-26.
- ^ "CBE modifies transaction limits on InstaPay application". State Information Service. 19 October 2024. Retrieved 26 March 2025.
- ^ InstaPay now allows transactions from outside Egypt