The Central Bank of Egypt (CBE) announced on its website that the maximum limits through applications of approved service providers, as stated in clause (3-1-4) of the regulations governing the Instant Payment Application services InstaPay, which was renamed the National Instant Payment System, have been amended.
The CBE indicated in its statement that this amendment came in light of analyzing data related to transactions of the National Instant Payment System, where it was found that the number and value of transactions conducted through the aforementioned system have increased, which reflects the need to increase the daily and monthly limits for transactions conducted through the InstaPay application to accommodate various segments as well as use cases that have emerged recently.
The CBE has set the maximum value for a single transaction on the InstaPay application at 70,000 Egyptian pounds.
The maximum value for daily transactions on the InstaPay application is 120,000 Egyptian pounds while the maximum value for monthly transactions is 400,000 Egyptian pounds.
