Payment News

CBE Seeks Expansion of Real-time Payments

The Central Bank of Egypt (CBE) launched its national system for real-time payments in April 2022. The real-time payments system allows continuous remittance services.

CBE is cancelling all fees for activating electronic collection services via the internet for micro, small and medium companies that want to activate the real time service in 2023. It wants to expand the use of digital financial services.

CBE has also decided to exempt customers for transfer fees for the first transaction per month to transfer from any mobile phone wallet to any other wallet, and the value of one Egyptian pound as a maximum for the expenses incurred by the customer for transfer transactions that take place between mobile phone wallets belonging to the same service provider.