The Central Bank of Egypt (CBE) just announced that it replaced about 6 million pension cards with the national payment card, Meeza.
Up until September 2022, 25 banks distributed 30 million cards bearing the Meeza emblem, according to the CBE.
The Meeza national payment card is currently used to replace and renew pension cards as part of the program. In order to fulfill the goals of financial inclusion and receive their dues more effectively and straightforwardly, the project intends to integrate retirees’ beneficiaries into the banking sector and make it possible for them to access its services.
Moreover, the CBE also announced the registration of more than 829,000 customers on the national system for instant payments, InstaPay, and the implementation of more than 4.3 million instant transfer transactions, with a value of LE 22.4 billion until September 2022.
This comes as the number of mobile phone wallet accounts reached 29 million accounts until September 2022, and the total number of transactions that took place using those wallets reached LE 48.5 million, with an estimated value of LE 59.1 billion.
Earlier in July, The CBE also revealed the completion of the replacement of 10.8 million payroll cards for public workers and pensioners with Meeza in 2022.
