By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt’s petrochemicals exports surge 23% to $8.629bn in 2022
    Egypt’s petrochemicals exports surge 23% to $8.629bn in 2022
    June 8, 2023
    Trade exchange between Egypt, COMESA countries increases to $5.3bn in 2022: CAPMAS
    Trade exchange between Egypt, COMESA countries increases to $5.3bn in 2022: CAPMAS
    June 8, 2023
    AI-generated academic science writing can be identified with over 99% accuracy
    AI-generated academic science writing can be identified with over 99% accuracy
    June 8, 2023
    Afreximbank provides Egypt’s CIAF Leasing with $44m aircraft financing facility
    June 8, 2023
    Ezdehar launches EGP 2bn fund to invest in small enterprises by September
    Ezdehar launches EGP 2bn fund to invest in small enterprises by September
    June 8, 2023
  • Politics
    PoliticsShow More
    Israel's neglect of Palestinian issue threatens regional, global security: Palestinian Foreign Ministry
    Israel’s neglect of Palestinian issue threatens regional, global security: Palestinian Foreign Ministry
    June 8, 2023
    Renewed clashes erupt in Sudan’s Omdurman, Khartoum
    Renewed clashes erupt in Sudan’s Omdurman, Khartoum
    June 8, 2023
    Abdel Ghaffar highlights Egypt’s government achievements in health sector during Africa Health ExCon
    Abdel Ghaffar highlights Egypt’s government achievements in health sector during Africa Health ExCon 
    June 8, 2023
    A legally binding agreement must be reached on GERD: Al-Sisi
    A legally binding agreement must be reached on GERD: Al-Sisi
    June 8, 2023
    Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
    Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
    June 7, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: CBE offers one-year incentives to support e-payments
Share
Notification
Latest News
Egypt’s petrochemicals exports surge 23% to $8.629bn in 2022
Egypt’s petrochemicals exports surge 23% to $8.629bn in 2022
Business
Trade exchange between Egypt, COMESA countries increases to $5.3bn in 2022: CAPMAS
Trade exchange between Egypt, COMESA countries increases to $5.3bn in 2022: CAPMAS
Business
Israel's neglect of Palestinian issue threatens regional, global security: Palestinian Foreign Ministry
Israel’s neglect of Palestinian issue threatens regional, global security: Palestinian Foreign Ministry
Politics Region
AI-generated academic science writing can be identified with over 99% accuracy
AI-generated academic science writing can be identified with over 99% accuracy
Business
Afreximbank provides Egypt’s CIAF Leasing with $44m aircraft financing facility
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > CBE offers one-year incentives to support e-payments
Business

CBE offers one-year incentives to support e-payments

Hossam Mounir
Last updated: 2022/12/26 at 7:01 PM
By Hossam Mounir 3 Min Read
Share
CBE offers one-year incentives to support e-payments
SHARE

The Central Bank of Egypt (CBE) announced Sunday new incentives to support the country’s digital transformation, including cashless transaction adoption, set to last from 1 January – 31 December 2023.

Under these incentives, Egyptian pound-backed transactions made online will be exempted from all fees and commissions.

Also, all fees and commissions on transactions made through the national Instant Payment Network (IPN) and its related mobile app Instapay powered by the CBE, will be waived.

The action comes within the framework of the National Council for Payments’ strategy to support digital transformation.

According to the Central Bank, since it was launched in April, IPN conducted 8 million transactions with a total value of EGP 45bn. The number of users also increased to 1.2 million.

In the same context, the Central Bank decided to waive all fees for activating electronic collection services via the Internet (e-collection) for micro, small and medium companies, in order to stimulate business through digital financial services.

The CBE also set a new pricing policy for transfers made among mobile e-wallets. It sets a maximum fee of EGP 1 for transfers made between two mobile e-wallets that belong to the same service provider, while it sets a maximum of an EGP 15 for transfers that are not affiliated with the same service provider. There were about 29.5 million e-wallet accounts in the country until October 2022, according to the CBE.

According to the Central Bank, a significant increase was achieved in the value and number of monthly transfers that take place through e-wallets, which reflects the importance of the service for users and their dependence on it greatly in their transactions and financial transfers on a monthly basis, and that it is not negatively affected by setting the aforementioned pricing policy.

It pointed out that these decisions come as a continuation of the efforts of the Central Bank of Egypt to motivate citizens to use digital financial services, and to benefit from the advantages it offers to perform financial services quickly, from anywhere and at any time, which contributes to the transformation of a society less dependent on banknotes, and the promotion of financial inclusion.

You Might Also Like

Egypt’s petrochemicals exports surge 23% to $8.629bn in 2022

Trade exchange between Egypt, COMESA countries increases to $5.3bn in 2022: CAPMAS

AI-generated academic science writing can be identified with over 99% accuracy

Afreximbank provides Egypt’s CIAF Leasing with $44m aircraft financing facility

Ezdehar launches EGP 2bn fund to invest in small enterprises by September

TAGGED: CBE, e-payments
Share this Article
Facebook Twitter Email Print
Previous Article Saudi Arabia second top investor in Egypt at $6.12bn: Trade Minister Saudi Arabia second top investor in Egypt at $6.12bn: Trade Minister
Next Article Al-Sisi follows up on hydroelectric plant Egypt is building in Tanzania, other projects  Al-Sisi follows up on hydroelectric plant Egypt is building in Tanzania, other projects 
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt’s petrochemicals exports surge 23% to $8.629bn in 2022
Egypt’s petrochemicals exports surge 23% to $8.629bn in 2022
Business
Trade exchange between Egypt, COMESA countries increases to $5.3bn in 2022: CAPMAS
Trade exchange between Egypt, COMESA countries increases to $5.3bn in 2022: CAPMAS
Business
Israel's neglect of Palestinian issue threatens regional, global security: Palestinian Foreign Ministry
Israel’s neglect of Palestinian issue threatens regional, global security: Palestinian Foreign Ministry
Politics Region
AI-generated academic science writing can be identified with over 99% accuracy
AI-generated academic science writing can be identified with over 99% accuracy
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?