CBE waives fees for SMEs new e-payment services

SMEs can now set up digital payment channels without charge until the end of June, under a Central Bank of Egypt (CBE) decision (pdf). The CBE has waived fees for SMEs to set up online payment gateways and QR code infrastructure for e-commerce transactions in an effort to encourage small businesses to adopt digital payments and reduce the frequency of cash-based transactions. The decision comes as the pandemic helped double the use of e-payments, said CBE deputy governor Rami Aboul Naga.