FinTech News
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Scammers reportedly steal money through InstaPay
Some fraudsters have begun exploiting the feature to scam victims out of their money.
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Disruptech Ventures invests in Banknbox, leading fintech company
The investment will facilitate Banknbox’s expansion into new markets, and enhance its capabilities to meet evolving customer needs.
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E-payment giant MasterCard inks MoU to digitalize SMEs in Egypt
Global payment technology company MasterCard signed a memorandum of understanding (MoU) with Egyptian e-commerce platform MaxAB.
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Egypt's “e-finance” Signs Cooperation Protocol with IBM to Establish Digital Banking Platform
The platform aims to provide and make digital systems and services available to banks and financial institutions.
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E-payment cards surge to 62 million in Egypt as of September 2023: CBE
"Meeza" payment cards accounted for about 55% of the total number of these cards, with 34.5 million cards.
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Fawry completes verification process, confirming security of operating systems and financial data
Fawry, Egypt's leading e-payment company, announced the completion of a thorough cybersecurity verification process and infrastructure examination.
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CBE launches cash withdrawal from ATMs for InstaPay users soon
This is to support the state’s plan to transform Egypt into a society less dependent on banknotes.
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CBE reveals number of InstaPay users & volume of Egyptian transactions
The number of InstaPay users has now reached 6.2 million customers he said, who have made 300 million transactions.
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FinTech and sustainability are key enables of change, Madbouly
Non-banking financial sector has vital role in the local economy, with the government implementing various reforms to support the sector.
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Egypt's electronic payment system surpasses LE 7.8T, benefits 20M citizens annually
The total transaction value for 59 economic entities through the system during the fiscal year 2022-2023 amounted to about LE 3.46 trillion.
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FinTech companies attracts $800M in 2022: CBE
The CBE's efforts in electronic payments have resulted in the issuance of 62 million electronic payment cards.
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Saudi’s Public Investment Fund raises its stake in Egypt’s e-Finance Company
Sarhan said that PIF submitted a request to increase its stake in the company to the Financial Regulatory Authority (FRA) almost a month ago.
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Payments Fintech Foodics in Egypt and Suplyd to Automate Procurement, Supply Chain for Restaurants
Foodics, the restaurant management and payment solutions in MENA, announced its collaboration with Suplyd in Egypt.
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Cellulant obtains a business licence in Egypt
Egypt’s payments sector has been notable lately, following new regulations supporting instant payments and the rise of fintech companies.
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94% of Egyptian commuters expect contactless fare payments on public transport
Around 94 percent of Egyptian commuters expect contactless payment options to be available on public transport, according to a survey.
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InstaPay to potentially launch remittance services in Jordan, UAE and Saudi
The CBE is still studying whether remittances transferred via InstaPay will be credited to Egyptian accounts in local or foreign currency.
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Taly to launch corporate payment platform next month: CEO
Taly, a company that specializes in digital payment solutions backed by Banque du Caire, is planning to launch a new platform for corporate payments.
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Egyptian e-payment giant Fawry denies reports of cyberattack
Egypt's major e-payment company, Fawry, denied that any of its platforms or online services had been subjected to cyber attacks.
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Foodics in Egypt partners with Suplyd to automate procurement & supply chain for restaurants
The partnership will integrate Suplyd's procurement platform with Foodics' restaurant management system, creating a first-of-its-kind experience.
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Egypt's fintech firm MNT-Halan raises $130 mln in securitisation
The $130 million securitisation was done through local investment bank CI Capital.