The Clap Suez Canal Bank (CANA) intends to join the instant payment network and InstaPay by the end of August.
The Deets The bank is currently making necessary preparations in order to join the instant payment network. This is a big step in the digital transformation of banks in Egypt.
Most banks in Egypt are in the process of joining the network. However, they recently pushed back the join date in order to better prepare to join. The instant payment network acts as the first real application in open banking in Egypt.
More about instant payments The instant payment network in Egypt was launched in March by the CBE. This comes as part of the strategy to digitalize the sector.