The Central Bank of Egypt (CBE) decided to increase the maximum limits of all transactions conducted through Instapay mobile application as of March 15th.
The decision includes increasing the maximum value of a single transaction to EGP 70,000 from EGP 50,000
The maximum daily value of transactions will be set at EGP 120,000, instead of EGP 60,000.
Meanwhile, the maximum monthly limit will be increased to EGP 400,000 per transaction from EGP 200,000.
Instapay’s money transfer transactions totaled 16 million at a value of EGP 80 billion since its launch. The application serves 1.8 million customers so far.