CBE replaces 6 million pension cards with Meeza cards

Hossam Mounir
3 Min Read

The Central Bank of Egypt (CBE) has revealed that it has replaced about 6 million pension cards with the “Meeza” national payment cards so far.

The project to replace and renew pension cards aims to integrate pensioners in the banking sector, and enable them to obtain its services, in a way that achieves the goals of financial inclusion and obtains their dues in an easy and fast manner.

In the same context, the Central Bank revealed that 25 banks had issued 30 million cards bearing the logo of the national brand “Meeza” until September 2022.

The Central Bank also announced the registration of more than 829,000 customers on the national system for instant payments, “InstaPay”, and the implementation of more than 4.3 million instant transfer transactions, with a value of EGP 22.4bn until September 2022.

The national system for instant payments, which was launched in March 2022, is one of the most important infrastructure projects for payment systems sponsored by the Central Bank, as it was designed to be a complete alternative to cash payments.

This comes as the number of mobile phone wallet accounts reached 29 million accounts until September 2022, and the total number of transactions that took place using those wallets reached EGP 48.5m, with an estimated value of EGP 59.1bn.

The Central Bank also revealed that the value of government service receipts, using the e-government collection system, had increased to EGP 93bn until September 2022.

The Central Bank said that the number of electronic points of sale at government agencies amounts to 22,000 electronic points of sale.

The electronic collection system was launched through the collection channels of the Ministry of Finance and the banks participating in the system.

In the same context, the Central Bank revealed the launch of an initiative to deploy 6,500 ATMs in governorates that suffer from a shortage of machines, with the participation of 26 banks, until the end of September 2022.

This comes within the framework of the Central Bank’s directives to raise the level of effectiveness and efficiency of the infrastructure of payment systems and services for the banking sector, especially for ATMs spread throughout the Republic, in a way that supports the optimal use of the infrastructure inside Egypt.

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