Instant Payment Network
Ever since the events of 2020, all sectors have realized the importance of wireless transactions and contactless services, and in support of that the Central Bank of Egypt (CBE) released a mandate requiring all banks to add support of Instant Payment Network (IPN). IPN allows individuals to transfer money instantly giving them access to multiple sources of fund through their mobile phone numbers. This network is designed for instant transactions between bank accounts, wallets, cards as well as Payment Service Providers (PSPs).
IPN Payment Gateway Solution Overview
- Customer onboarding and Registration
- Authentication for source of fund
- PIN management for registered source of fund
- Accounts management, balance enquiry and mini statement
- Handling different account types: accounts, wallets and Meeza cards
- Notification to the sender
- Business reports
IPN - Benefits
Implementation of IPN has become more and more inevitable, with the whole world going for a completely wireless future, the drivers pushing for IPN have embossed. Statistics show that 67% of the Egyptian population is unbanked all the while 93% of the population has a mobile subscription. On the other hand The cost of transferring money between individuals is high through banks. Options are limited and time-consuming. To wrap them all up, the Central Bank of Egypt (CBE) is promoting the collaboration between banks and rising FinTechs.
IPN - Technical Benefits
IPN - Features
IPN Ecosystem Components
With the Central Bank of Egypt issuing mandates regarding IPN and the need to take the market to a step further, we at Sumerge have perfected the formula for a 4-6 weeks ready to launch solution, covering your every business and technical need. IPN comes with a whole ecosystem that enables banks, consumers and PSPs all the while covering a secure library.
Instant Payment Network Ecosystem
Path to a Wireless Future
IPN Payment Gateway Consultation
Book Your Free Session
Sumerge team has achieved new heights of technological advancements with IPN Payment Gateway and our team is here and ready to completely help out. Click the button below and get a free consultation and learn everything you need to know to get the gears in shift.
Let’s conquer new grounds!
AlexBank's IPN Payment Gateway Journey
Earlier, we at Sumerge partnered with AlexBank and implemented our state of the art IPN Payment Gateway solution. Where we built a Microservices architectural solution to deliver the IPN services to be the trigger for Alexbank digital transformation strategy. We’re excited to join hands with many more major market players and help kickstart IPN services and solutions within the Egyptian market!
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