CBE's InstaPay to offer five new services

Ahram Online , Monday 11 Sep 2023

The Central Bank of Egypt (CBE) has approved the addition of five new services to its InstaPay application, such as paying bills and recharging the balance.

File Photo: InstaPay application. Official website.


The service provider stated that the application, launched 18 months ago, allows users to pay electricity, gas, and water bills, besides paying telecommunications and Internet bills.

In March 2022, the CBE launched the National Instant Payments Network and InstaPay mobile application, which provides secure and affordable digital financial transactions.

A year after launching the app, the CBE said transactions worth EGP 112.7 billion were conducted via InstaPay.

In July, the CBE enabled Egyptian expats to send remittances via the app from several countries, including Saudi Arabia, the UAE, and Jordan.

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

Egypt has made significant strides in embracing digital technologies and promoting a digital-first economy in line with its digital transformation policy and Egypt's Vision 2030.


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