Payments/EG
Egypt
ISO EG · 3 schemes
Summary
- InstaPay 1.5B transactions, 12M users (2024)
- Meeza Digital national mobile payment network
- Interoperable QR Visa/MC/Meeza mandated
- $53 billion annual transaction value (2024)
- Cross-border capability launched Nov 2024
Banking landscape
Central Bank
- Name: Central Bank of Egypt (CBE)
- Website: https://www.cbe.org.eg/
- Role: Monetary policy, IPN oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | National Bank of Egypt | State | NBE Mobile |
| 2 | Banque Misr | State | BM Mobile |
| 3 | Commercial International Bank | Private | CIB Smart |
| 4 | QNB Alahli | Regional | QNB Mobile |
| 5 | HSBC Egypt | International | HSBC App |
Market Structure
- CBE-regulated: All banks connected
- InstaPay: National instant payment
- Meeza: National card/QR scheme
- 12 million InstaPay users
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| IPN | CBE | Instant payments | Active (2022) |
| InstaPay | Egyptian Banks Co | App | Active |
| Meeza Digital | CBE | Mobile network | Active |
InstaPay Statistics (2024)
- 1.5 billion transactions
- EGP 2.9 trillion value
- 12 million users
- $53 billion annual value
Instant Payment Network (IPN)
- Launched March 22, 2022
- 24/7 real-time transfers
- All operating banks connected
- National infrastructure
QR code standards
Interoperable QR
| Attribute | Value |
|---|---|
| Mandate | CBE regulated |
| Networks | Visa, Mastercard, Meeza |
| Standard | Interoperable |
| Feature | Unified acceptance |
CBE QR Mandate
- Interoperable QR standards
- Visa, Mastercard, Meeza included
- Prevents fragmentation
- Universal acceptance
Meeza QR Features
- Registered merchant QR
- Meeza Wallet integration
- Request to Pay notifications
- Phone number based
InstaPay QR
- QR code transfers
- Transfer links
- Seamless money transfers
- Performance enhancements
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| InstaPay Egypt | Egyptian Banks Co | Yes | Full transfers |
| Meeza Wallet | Banks | Yes | Request to Pay |
| Bank Apps | Various | Yes | Banking |
InstaPay Egypt
- First CBE-approved IPN app
- QR code transfers
- Transfer links
- 24/7 real-time
- Cross-border (Nov 2024)
Meeza Digital
- National mobile network
- E-wallet linking
- Instant transfers
- Over 1 million users (Aug 2024)
Transaction Limits
- EGP 70,000 per transaction
- EGP 120,000 daily per bank
- EGP 400,000 monthly
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| InstaPay | Instant | QR/Link | 12M users | instapay |
| Meeza QR | National | QR | 1M+ users | meeza-qr |
| IPN | Infrastructure | Bank | Universal | — |
Sources
- Transfi - Egypt Payment Rails
- CBE - Instant Payment Network
- InstaPay Egypt - App Store
- Geidea - Meeza QR Payment
- Thunes - Egypt Transformation
- KFH Egypt - InstaPay
- Mordor Intelligence - Egypt Mobile Payments
- Africa Business - Digital Issuing
Full country report
Schemes
Standards
Primary · 3
Mentioned · 2