Friday July 19th, 2024
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You Can Soon Make ATM Withdrawals Without a Visa Through InstaPay

This initiative is part of the central bank's digital transformation strategy for the banking and financial sector.

Cairo Scene

You Can Soon Make ATM Withdrawals Without a Visa Through InstaPay

The Central Bank of Egypt announced the introduction of new financial services on InstaPay, including ATM cash withdrawals and electronic point-of-sale transactions for merchants such as Fawry and mobile payment applications. This initiative is part of the central bank's comprehensive digital transformation strategy for the banking and financial sector, aimed at developing advanced payment systems to align with the country's plans for reduced reliance on cash transactions.

The Central Bank of Egypt highlighted ongoing efforts to enhance the instant payment network with distinctive services, including cardless cash withdrawals from ATMs and purchases through electronic point-of-sale systems and mobile applications. These services are scheduled to be rolled out gradually throughout the current year as part of Egypt's digital payment ecosystem expansion.

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