The increase, effective March 15, 2023, is a response to growing demand from customers, with the CBE citing opinion polls
Under the new regulations, banks will be able to roll out services that support these payments soon, though the statement does not specify a timeline
“Commissions apply only when using debit cards, prepaid cards, and salary cards for other bank machines other than the bank issuing the card, with a prescribed commission of EGP 5,” it added.
A new digital payments and collection solution, Taly, launched yesterday, aiming to bring a seamless ecosystem for banks, corporates, merchants, and consumers
Between 2021 and 2023, the overall digital payments market in Egypt is expected to increase at a compound annual growth rate (CAGR) of 19.6%