FinTech News
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Egyptian fintech startup, Zeal, raises $4 million
Zeal, an Egyptian fintech startup, has raised $4 million in funding to expand its technology throughout Europe, the Middle East, and Africa
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Egypt aims to launch digital currency by 2030
Egypt aims to launch a digital currency issued by the Central Bank of Egypt, represented by the digital pound (E-Pound) by 2030.
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Egypt sets EGP 15 mln as minimum capital for fintech startups
The approval is part of a broader initiative to bolster support for fintech startups and promote a business-favorable climate, as per the statement.
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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.