Yes, Instapay is now available outside of Egypt for users to transfer funds between Egyptian banks, noting that you still need to enable the service using your active Egyptian SIM card to use the service
You can send money using one of the following beneficiary’s details:
- Instant Payment Address (IPA)
- Mobile number registered with IPN
- Digital wallet using mobile number
- Bank account number or IBAN
- Debit, credit or prepaid card from a member bank using a 16-digit number
Member banks of the Instant Payment Network are integrated into the network to accept and execute customers’ instructions, based on their authorization. They are also licensed by the Central Bank of Egypt to allow InstaPay to process customers’ transactions.
InstaPay is licensed and regulated by the Central Bank of Egypt (CBE) as an authorized payment service provider. The CBE’s license guarantees the maximum level of data security and consumer data protection, and ensures that all InstaPay’s operations and processes are fully compliant with the CBE’s legislations.
InstaPay is the first payment service provider application licensed by the Central Bank of Egypt (CBE) to operate through the Instant Payment Network. As such, the app employs a customer information security system against the risks of irresponsible use of or unauthorized access to this information.
InstaPay is the first payment service provider application licensed by the Central Bank of Egypt (CBE) to operate through the Instant Payment Network, enabling instant transfers between banks 24/7. The CBE’s license entails full compliance of InstaPay with information security and data privacy legislations and requirements.
IPN allows customers to send money to any of the following:
- Bank accounts using:
- Account number
- Mobile number (for IPN on-boarded customers only)
- IPA (Instant Payment Address for on-boarded customers only)
- Digital wallets (using mobile number)
- Meeza cards (using 16-digit card number)
All your bank accounts and Meeza prepaid card funds belonging to one of the network’s banks.
IPA stands for Instant Payment Address. It is a simplified address for your account, which can be used to send and receive cash transfers instead of a full bank account number or card details. Think of it as an email address that can be used to transfer money.
Confidential data is defined as your card number, PIN and OTP, submitted during onboarding, and your IPN’s PIN submitted either during logins or during transaction authentication processes.
All the above confidential data are encrypted between you and CIB by implementing end-to-end encryption. Thus, InstaPay has no access, rights or ability to obtain or store such confidential data.
If the transaction status on InstaPay is “successful,” this means that the amount was successfully credited to the beneficiary’s account. Please provide the beneficiary with the transaction’s reference number to check the issue with their bank.
- You can send and receive money instantly to any person on IPN
- You can check your bank account balance
- You can send money to any IPN bank account, Meeza cards and digital wallets
IPN enabled Banks; to send from bank accounts, and receive from bank accounts, Meeza Digital wallets and Meeza cards
InstaPay will inform you of the transaction status instantly. The status can be one of the following:
- Successful Transaction: The transfer amount is credited to the beneficiary’s account.
- Rejected Transaction: The transfer was rejected and the transfer amount is reversed to your account.
- Pending Transaction: The transaction is sent to the beneficiary’s bank to be executed, but the bank hasn’t confirmed crediting the transfer amount to the beneficiary’s account. The transaction status will be updated shortly to either “successful” or “rejected”.
A pending transfer means the beneficiary’s bank hasn’t confirmed crediting the amount to the beneficiary’s account. InstaPay will update the transfer status to either “successful” or “rejected” within a few minutes of the transaction. You can check the transaction status from the app’s transaction history.