CBE to license fintech firms for InstaPay use in 2024

Updated 11/20/2023 9:05:00 AM
CBE to license fintech firms for InstaPay use in 2024

Arab Finance: The Central Bank of Egypt (CBE) is planning to provide a license to fintech companies that allow them to link their issued e-payment cards with InstaPay in 2024, Asharq Business reported on November 20th, citing an unnamed source familiar with the matter.

The source added that the license could be issued by the CBE for free.

On November 19th, Deputy Governor of the Central Bank of Egypt (CBE) Ehab Nasr revealed that the number of InstaPay users increased by 71% to 6.5 million customers this November from 3.8 million customers at the end of last June.

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