InstaPay application unveiled a new update, enhancing its services to facilitate instant money transfers among users via QR codes and payment links.
The latest feature allows the recipient to share a QR Code with the individual intending to transfer money, providing an alternative method to the manual exchange of transfer details like payment addresses. By simply scanning the QR Code through the camera, this minimizes the risk of data entry errors.
Here’s how to initiate instantaneous money transfers on InstaPay:
- Both the sender and recipient need to be physically present, as InstaPay has devised a method for sharing the Payment Link with the transferring party, offering an alternative to sharing payment addresses or manually inputting transfer details.
- Upon clicking the payment link, the InstaPay application automatically populates the recipient’s data via the link and proceeds with the transfer process directly, eliminating the need for manual data entry.
Withdrawal Limits
The Central Bank of Egypt (CBE) has set the following limits for transfers:
- LE 70,000 per transaction.
- LE 120,000 daily debit per bank.
- LE 400,000 monthly debit per bank.
