CBE authorises 28 banks to provide mobile payment services in Egypt

The Central Bank of Egypt (CBE) has authorised 28 banks operating in the Egyptian market to provide mobile payment services, according to the CBE’s Governor Tarek Amer.

He revealed that mobile payment subscribers reached 13.5 million at the end of June 2019, with a total value of transactions of about EGP 20bn until September 2019.

Meanwhile, the number of Meeza card users – a national electronic payment card – reached 2 million until September, Amer said.

He added that the card was linked to about 76,000 electronic points of sale (POS) and 13,000 ATMs, recording total transactions of about 510,000 transactions, valued at EGP 564m.

Amer revealed that 28 banks operating in the Egyptian market have received approvals to provide mobile payment service.