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aiBANK partners with InstaPay to offer instant payments

By Delisha Fernandes

July 11, 2023

  • Digital Wallets
  • Financial Inclusion
  • financial news
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aibankaiBANK, a provider of integrated retail, corporate, and Islamic banking solutions, announced that it has availed Instant Payment Network (IPN) services through the InstaPay App.

With InstaPay App, aiBANK will allow customers to transfer money instantly between bank accounts and to bank cards and digital wallets using their mobile phones.

Iman Badr, Senior Director, Consumer & Business Banking at aiBANK, said, “Offering instant payment services is a strategic move that is part and parcel of our vision to enhance our digital footprint and customer experience as we work to introduce simple, seamless, and speedy solutions. Access to InstaPay App will offer our customers a new level of convenience and flexibility in managing their finances and making timely transactions.”

“Our presence on the app also aligns with the bank’s commitment to contributing to the nationwide directives of promoting digital transformation and financial inclusion. Moreover, we are committed to helping clients realise their goals through convenient, distinctive, and quality solutions with the fastest turnaround time,” added Badr.

Furthermore, the bank offers various types of cards, catering to different customer segments, supported by the latest technology in payment operations, and equipped with three-dimensional security systems for safe online shopping.

InstaPay App is a mobile application licensed by the Central Bank of Egypt (CBE) as a payment service provider via IPN. It allows individuals to make instant and secure electronic transfers using their mobile phones as part of Egypt’s financial inclusion and digital intermediation strategy.

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