‘InstaPay’ transactions hit 112.7b EGP within one year

‘InstaPay’ transactions hit 112.7b EGP within one year

The Central Bank of Egypt (CBE) said that 2.16 million customers registered on the “InstaPay” payments application during the first year of its establishment.

The CBE said the application hit 20.3 million transactions during the first year, with a value of EGP 112.7 billion EGP.

The ideal timing of transactions through the application were 70% after the official working hours and 30% during the official working hours.

The maximum limits for financial transactions, taking place through the application, were amended to raise the maximum transaction value from EGP 50,000 to EGP 70,000, according to the CBE.

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