The Central Bank of Egypt has unveiled a new electronic payment service, “Masrafi Pay,” designed to allow customers to complete purchases using a QR code directly from their mobile phones, eliminating the need for cash or bank cards.
The service is accessible through the #Masrafi_Plus banking application, providing a secure and convenient alternative for both consumers and merchants.
To make a payment using Masrafi Pay, users first open the Bank Plus app and navigate to the “My Account” menu.
They then select the “Pay via QR” option, enter the purchase amount, and generate a QR code. The merchant scans the code to complete the transaction instantly.
The Central Bank highlighted several advantages of the service, including rapid transaction execution within seconds, enhanced security through encrypted processing, and the elimination of the need to carry physical money or cards.
Masrafi Pay is available to all Banki Plus subscribers and is designed to serve both retail merchants and individual customers.
“Masrafi Pay offers a fast, secure, and user-friendly way for people to conduct transactions without the inconvenience of cash or cards,” a spokesperson for the Central Bank said.
To subscribe, Bank Plus users must be registered for the service and send a text to 16016 containing their Bank Plus secret number followed by their full account number. Subscribers will then receive a purchase code that can be used for all future transactions.
The launch of Masrafi Pay comes amid growing efforts in Egypt to modernize the financial sector and encourage digital payment adoption. By integrating mobile technology and QR code payments, the service aims to enhance financial inclusion, streamline everyday transactions, and reduce reliance on cash.
Financial experts note that such digital solutions could play a key role in accelerating Egypt’s move toward a cashless economy, improving transaction transparency, and reducing operational costs for merchants.
The Central Bank confirmed that Masrafi Pay is now fully operational and ready for use by all registered Bank Plus customers across the country, signalling a significant step forward in Egypt’s digital banking landscape.
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