Egypt's Instant Payment Network (IPN) 'InstaPay' has witnessed remarkable growth, with 22 million registered customers and 1.47 billion transactions valued at 4.33 trillion Egyptian Pounds (EGP) as of the second quarter of 2026. This was announced by Hassan Abdallah, Governor of the Central Bank of Egypt, during the 50th meeting of the Arab Central Banks' Governors Council in Abu Dhabi.
Abdallah emphasized the importance of implementing instant payment programs tailored to each country's needs and priorities, considering the level of development of their payment systems. He outlined three key areas of focus for the upcoming phase: enhancing the inclusivity of instant payment services, expanding use cases, and supporting regional integration and cross-border payments.
The Central Bank of Egypt Governor also participated in a high-level workshop titled "Macroeconomic Resilience in the Face of Geopolitical Turmoil," where he stressed the significance of maintaining the independence and credibility of central banks. He highlighted the need for coordination between fiscal and monetary policies, noting that they complement each other, especially in times of growing global uncertainty.
Abdallah's participation in the workshop was part of his engagement in various international events. He was invited by the Governor of the Central Bank of the UAE to attend the Middle East and North Africa Financial Health Leadership Summit, organized by the Central Bank of the UAE in collaboration with the World Bank Group, the UNSGSA, and the Arab Monetary Fund.
The growth of InstaPay reflects Egypt's efforts to develop its digital payment infrastructure. The network has become a crucial component of the country's financial landscape, providing users with efficient and convenient payment services. The significant increase in transactions and registered customers demonstrates the network's potential for further expansion.
The Central Bank of Egypt has been working to enhance the country's financial inclusion and digital payment capabilities. The development of InstaPay is part of these efforts, aiming to increase access to financial services and promote economic growth. The bank's focus on instant payments and digital infrastructure is expected to continue driving progress in these areas.
The international recognition of Egypt's progress in digital payments is evident through Abdallah's participation in global events. His engagement with international organizations and central banks highlights Egypt's commitment to staying at the forefront of financial innovation and cooperation.
Key points
- InstaPay has recorded 1.47 billion transactions valued at 4.33 trillion EGP as of the second quarter of 2026.
