FinTech News
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MID Takseet expands its instalment services with EGP 500m
The company achieved an impressive 338% growth in its business volume in 2023, within just one year of its launch.
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Government's electronic payment yields Reach LE8.1T in 53 months
The Finance Ministry's statement clarified that the growth rate of electronic payment services for state employees reached 12 percent.
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Central Bank of Egypt to soon allow ATM withdrawls for InstaPay users
The decisions also included exemption from all expenses and commissions related to transfer services for customers of InstaPay.
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CBE delays charging transfer fees on InstaPay
Earlier this year, the CBE had previously mentioned that it would impose fees on transactions made via the app in early 2024.
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Egyptian e-payment company Basata to launch new services in 2024 promoting financial inclusion
Basata Holding, a leading Egyptian e-payment services company, announced plans to introduce new services in 2024 to promote financial inclusion.
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Egypt’s fintech Banknbox raises funding from Disruptech Fund
This investment not only facilitates Banknbox’s expansion into new markets but also enhances its capabilities to meet evolving client needs.
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Dahab Masr, GuRow seal deal to boost gold investment using AI
Dahab Masr has signed a cooperation protocol with GuRow, a financial technology application, to develop the gold market through AI.
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Global giant MasterCard, Egypt’s MDP sign strategic alliance to enhance e-payments
Global payment technology company MasterCard has entered into a strategic alliance agreement with the Egyptian digital payment company MDP.
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PayTabs partners with mnGm to initiate card acceptance for gold purchases online in Egypt
This collaboration introduces card acceptance for gold purchases online for the very first time in the country.
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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.