The recent adjustment of the maximum transaction limits by the Central Bank of Egypt (CBE) for the InstaPay application, now renamed the National Instant Payment System, highlights a significant change in the financial transaction landscape in Egypt. The CBE’s decision, communicated on its official website, comes after a thorough analysis of data related to transactions carried out via this system, highlighting an increase in both the number and value of operations carried out.
The increase in the daily and monthly thresholds for transactions via the InstaPay application reflects the need to adapt these limits to meet the diversified needs of users and new emerging use cases. The maximum value of individual transactions on the InstaPay application is now set at 70,000 Egyptian pounds. As for the daily and monthly limits, they have been increased to 120,000 Egyptian pounds and 400,000 Egyptian pounds, respectively.
This decision by the CBE reflects its commitment to facilitating financial transactions and supporting the evolution of uses in a constantly changing economic environment. By increasing the transaction limits on the InstaPay application, the CBE aims to provide greater flexibility to users, while supporting the rise of instant payment in Egypt. This development also reflects the CBE’s commitment to modernizing the country’s financial sector and promoting innovation in payment services.
Thus, this announcement by the Central Bank of Egypt marks an important step in promoting a digital and agile economy, promoting greater accessibility to financial services and strengthening consumer confidence in online transactions. By adjusting the transaction limits on the InstaPay application, the CBE paves the way for new growth opportunities and a wider adoption of digital payments in Egypt.
In conclusion, this decision by the Central Bank of Egypt reflects its proactive vision for financial innovation and its commitment to modernizing payment services in the country. By increasing transaction limits on the InstaPay app, the CBE is supporting the development of a more dynamic and accessible digital economy, thereby contributing to strengthening the stability and competitiveness of the Egyptian financial sector.