Egypt’s Payment Rails & How They Work – Meeza, InstaPay & Mobile Wallet Growth

Egypt's economy is changing a lot as it moves away from cash and towards being the MENA region's leader in digital banking. This transformation is happening because the government is backing it strongly, the rules are changing, and the digital infrastructure is growing. The Meeza card system, the quick growth of InstaPay Egypt, and the huge increase in the use of mobile wallets are all signs that Egypt's payment system is evolving. All of these innovations are coming together to create a payment system that is simpler, more open, and more useful.

The expansion of Egypt's payment system

Egypt has spent a lot of money on its payment system in the last ten years to make it easier for more people to use and to cut down on the volume of cash transactions. The Egyptian government and Mastercard worked together in 2013 to build the first mobile payments system that could interact with other systems. This was a major step in the right direction. This early step made it possible for major reforms to materialise, such as the formation of the National Council for Payments, which President Abdel Fattah El-Sisi oversaw and which intended to make society cashless.

Since then, the Central Bank of Egypt (CBE) has been a significant help in making laws for Payment Service Providers (PSP) and Payment System Operators (PSO). These frameworks spell out the rules for licensing, security, and interoperability. The Non-Cash Payment Law, which entered into force in 2019, specifies that both private enterprises and government agencies must take payments that aren't cash. That year, there were more than 16,000 government point-of-sale terminals and QR codes set up all around the country.

This made it increasingly customary for both businesses and the government to accept digital payments. The CBE also launched FinTech Egypt, the Fintech Innovation Fund, and Egypt's first FinTech Hub to get people to work together and put money into the country's digital economy.

Also read: Stablecoin Payments in Australia: Serving Startups, Freelancers, and Crypto-Friendly Merchants

Meeza Egypt: A National Card Program for People Who Don't Have a Bank Account

The creation of Meeza, Egypt's first national payment card and digital wallet system, has been one of the most critical milestones towards the country's digital economy. The CBE manages Meeza, which launched in 2017 and is a key way to make sure that everyone can get financial services, notably Egypt's substantial unbanked population.

Egyptians can transact business online without a traditional bank account with Meeza cards, which can be prepaid or debit. To receive a Meeza prepaid card, Egyptians just need a valid national ID. People can use these cards to safely pay for products in person, online, and with government services all around the country. Meeza is making consumers rethink how they pay for things by processing transactions in real time and collaborating with a number of digital channels.

Meeza is good for home use because it just takes Egyptian Pounds (EGP). By July 2020, the National Bank of Egypt (NBE) had more than two million people using its Meeza e-payment services. Meeza had over a million users by August 2024. This growth indicates how significant the program is in Egypt's e-payment system.

InstaPay Egypt is changing how real-time transfers work

InstaPay Egypt is the first time the country has tried real-time, 24/7 payments. It builds on what Meeza already has in place. InstaPay is the first mobile app that the CBE has allowed access to the Instant Payment Network (IPN). The Egyptian Banks Company built it. With a mobile device, people may swiftly move money between bank accounts and digital wallets.

Users must connect their bank accounts or Meeza prepaid cards to their registered cellphone number to utilise InstaPay. Users can make an Instant Payment Address (IPA) when their debit card or Meeza card PIN has been checked. This is a simple way to identify an account, like an email address. This helps them send and get money without having to share all of their account details. You can send money through the app in a number of ways, such as by account number, IBAN, wallet number, or IPA.

InstaPay had done 1.5 billion transactions totalling EGP 2.9 trillion by the end of 2024. Twelve million people say they trust and promptly use this new money tool. You can get as much money as you desire, but there are limits on how much you can get at once: EGP 70,000 each transaction, EGP 120,000 per bank every day, and EGP 400,000 per month.

As of April 1, 2025, InstaPay began charging 0.1% for each transfer (with a minimum of 50 piasters and a maximum of EGP 20) and 50 piasters for each inquiry after 10 free balance checks per month. Even though they are scared that they might lose some users, they still use the app a lot. The software is helpful and easy to use, which is why.

Being safe is important. Banks keep card details, PINs, and one-time passwords safe and encrypted. InstaPay doesn't hold or access any of this information because it has to follow CBE laws.

Integration Insight: Fintechs who want to use Egypt's IPN and local payment rails can use platforms like Transfi to safely link wallets, change crypto to fiat, and send money across borders. This is a huge step for Egypt towards digital finance.

How Egypt's Use of Mobile Wallets Can Help Them Grow

In Egypt, the use of mobile wallets has soared, along with Meeza and InstaPay. This is similar to how people are starting to utilise smartphones and digital banking more. More and more Egyptians are utilising their phones to pay for things. There are more than 62 million people who use smartphones, and 102% of people use a mobile phone.

Egypt had more than 50 million mobile wallets in use as of May 2025. The mobile payment market is estimated to be valued $22.4 billion by the end of the year. It will increase at a rate of 19.3% each year from 2018 to 2025. The CIB Smart Wallet, which came out in 2016, and the QNB Alahli Wallet, which came out in 2017, are two of the most prominent wallets. Users can easily add money to their mobile accounts, pay bills, send money, and make payments on both platforms.

Studies show that a number of things, including how useful people think they are, how much they trust banks, how easy they are to use, and how much support there is from the government for CBE, affect the use of wallets in Egypt. If banks and telecom firms continue to make mobile banking easy to use, it will swiftly replace traditional banking in Egypt.

Also read: Uruguayan Stablecoin Payments: Digital Assets in a Stable Market That Likes Dollars

Conclusion

Egypt's modifications to its financial infrastructure are part of a planned and determined move towards a cashless society. Egypt is embracing mobile wallets and services like Meeza and InstaPay to change the way money moves more modernly and make it easier for everyone in society to get financial services.

Egypt's digital payments journey, which has been supported by government reforms, Central Bank innovation, and private-sector involvement, is a remarkable illustration of how technology, infrastructure, and targeted policy can work together to make the financial future more accessible to everyone.

FAQs:

1: What is Meeza, and who can use it?

Egypt's national electronic payment card system is called Meeza. You don't need a bank account to get a Meeza card. Anyone in Egypt who has a valid national ID can get one.

2. What is the process for using InstaPay in Egypt?

You can transmit money between bank accounts or Meeza cards quickly using the InstaPay app. You can do this by utilising cell numbers, account numbers, or IPAs.

3. Do you have to pay to use InstaPay?

In actuality, InstaPay costs 50 piasters for each inquiry after the first ten free balance checks each month. It also charges 0.1% for each transfer, which is at least 50 piasters and no more than EGP 20.

4. What number of Egyptians have mobile wallets?

More than 50 million people in the U.S. utilise mobile wallets as of May 2025.

5. Are Egypt's payment mechanisms compatible with foreign fintechs?

Yes. Transfi and other platforms aid with cross-border payments and digital wallet interoperability by letting you safely connect to regional payment networks like InstaPay and Meeza.

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