In a significant development for the digital finance landscape in Egypt, the Instant Payment Network (IPN) has officially announced the introduction of transaction fees for its InstaPay services, set to take effect on April 1, 2025. This announcement marks a new chapter for InstaPay, which has rapidly become a popular platform since its inception in April 2022. The shift to a fee-based structure is part of a strategic plan aimed at enhancing service quality, fostering digital infrastructure development, and reinforcing the platform’s long-term sustainability.
Under this new fee structure, users can expect to pay 0.1 percent of the transaction amount, with minimum fees set at 50 piasters and a maximum charge of 20 Egyptian pounds per transaction. Customers will be pleased to know that they will continue to enjoy up to 10 free balance inquiries each month. After this limit, a nominal fee of 50 piasters will be applied for additional inquiries.
InstaPay’s journey from being a new player to amassing an impressive 12 million users by the end of 2024 reflects the growing demand for convenient and efficient financial solutions in the country. This rapid adoption underscores not only the platform’s user-friendly design but also its commitment to facilitating seamless transactions in an ever-evolving digital economy.
A key element of this transition is the emphasis on transparency. The Instant Payment Network assures users that they will have clear visibility of applicable fees before completing any transactions, allowing for informed financial decisions. For any questions or concerns regarding the new fee structure, users can readily access the official support channels incorporated within the app.
This move is in alignment with the Central Bank of Egypt’s vision for digital transformation, highlighting the imperative to innovate within the financial sector. As InstaPay establishes itself as a cornerstone of secure and efficient financial transactions, both users and stakeholders can anticipate even greater enhancements in service quality and digital infrastructure in the future.
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