Arab Finance: Transactions conducted through InstaPay in 2022 were worth EGP 112.7 billion, Asharq Business reported on March 26th.
InstaPay served 2.16 million users who carried out 20.3 million transactions last year.
In 2022, the CBE launched the Instant Payment Network (IPN) and InstaPay app which allow the conduction of online financial transactions instantly.
InstaPay is the first e-payment mobile application licensed by the Central Bank of Egypt (CBE) via the National Instant Payment Network.