Egypt Cards and Payments – Opportunities and Risks to 2025

Pages: 55 Published: May 30, 2022 Report Code: GDFS0602CI

The annual value of card transactions in the Egypt cards and payments market was $4.2 billion in 2021. The market is projected to grow at a CAGR of more than 10% during the forecast period. Egypt remains a cash-driven society, with consumers preferring to use cash for day-to-day transactions. This is due to the country’s large unbanked population and limited financial awareness.

The Egypt cards and payments market research report provides a detailed analysis of market trends in the Egyptian cards and payments industry. It provides values and volumes for several key performance indicators in the industry, including cash, cards, direct debits, credit transfers, and cheques during the review period. The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values, and volumes during the review period and over the forecast period. Furthermore, it offers information on the country’s competitive landscape, including market shares of issuers and schemes.

Egypt Cards and Payments Market Outlook

Egypt Cards and Payments Market Outlook

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What are the market dynamics in the Egypt cards and payments industry?

The Central Bank of Egypt (CBE) is restricting cash payments, focusing on mobile payments, and introducing new laws to promote electronic payments to boost non-cash transactions. Meanwhile, commercial banks are expanding their branch networks as well as adopting the agent banking model to bring more people into the formal banking system. These initiatives have supported the payment card market, which has seen significant growth in terms of payment volume and value, indicating that preferences have started to shift. Improving payment acceptance infrastructure, the adoption of contactless payments, and a growing eCommerce market will further boost the uptake of electronic payments. Although the pandemic impacted consumer spending (which in turn affected the payments industry), there has been a rise in the use of electronic methods of payment at the expense of cash.

Egypt does not have an instant payment system in place. However, in April 2021 the central bank announced plans to introduce an instant payment system. In November 2021, the central bank approved regulations governing the new instant payment scheme, which will enable instant transfers between personal and business bank accounts. The scheme will be available 24 hours a day, seven days a week, 365 days a year, and will settle transactions within a few seconds.

What are the key payment instruments in the Egypt cards and payments market?

The key payment instruments in the Egypt cards and payments market are cash, credit transfers, cards, direct debits, and cheques. Cash has the majority transaction volume, followed by credit transfers and cards.  Cash remains the preferred method of payment and is generally favored for low-value, day-to-day transactions. The government has been taking steps to reduce the dependence on cash, which includes establishing the National Council for Payments in 2017. Meanwhile, in May 2020 the government rolled out an initiative designed to reduce cash usage and encourage electronic payments.

Egypt Cards and Payments Market Analysis by Payment instruments

Egypt Cards and Payments Market Analysis by Payment instruments

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What are the key segments in the Egypt cards and payments market?

The key segments in the Egypt cards and payments market are card-based payments, e-commerce payments, and alternative payments.

Who are the key players in the Egypt cards and payments market?

The key players in the Egypt cards and payments market are NBE, Bank Misr, CIB, QNB, Arab African International Bank, Intesa Sanpaolo, Credit Agricole, Attijariwafa Bank, Meeza, 123 Network, Visa, and Mastercard.

Market report scope

Market size (Year – 2021) $4.2 billion
Growth rate (CAGR) >10%
Forecast period 2021-2025
Key payment instruments Cash, Credit Transfers, Cards, Direct Debits, and Cheques
Key segments Card-Based Payments, E-Commerce Payments, and Alternative Payments
Key players NBE, Bank Misr, CIB, QNB, Arab African International Bank, Intesa Sanpaolo, Credit Agricole, Attijariwafa Bank, Meeza, 123 Network, Visa, and Mastercard

Scope

This report provides:

  • Current and forecast values for each market in the Egyptian cards and payments industry, including debit, and credit cards
  • Detailed insights into payment instruments including cards, credit transfers, cheques, and direct debits. It also includes an overview of the country’s key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the Egyptian cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Egyptian cards and payments industry.

Reasons to Buy

  • Make strategic business decisions, using top-level historic and forecast market data, related to the Egyptian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Egyptian cards and payments industry.
  • Assess the competitive dynamics in the Egyptian cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Egypt.
  • Gain insights into key regulations governing the Egyptian cards and payments industry.

Key Players

NBE
Bank Misr
CIB
QNB
Arab African International Bank
Intesa Sanpaolo
Credit Agricole
Attijariwafa Bank
Meeza
123 Network
Visa
Mastercard.

Table of Contents

Table of Contents

Market Overview

Payment Instruments

Card-Based Payments

Ecommerce Payments

Alternative Payments

Payment Innovations

Job Analysis

Payment Infrastructure and Regulation

Appendix

Frequently Asked Questions

The cards and payments market size in Egypt was valued at $4.2 billion in 2021.

 

 

 

 

The cards and payments market in Egypt is projected to grow at a CAGR of more than 10% during the forecast period.

The key payment instruments in the Egypt cards and payments market are cash, credit transfers, cards, direct debits, and cheques.

The key segments in the Egypt cards and payments market are card-based payments, e-commerce payments, and alternative payments.

The key players in the Egypt cards and payments market are NBE, Bank Misr, CIB, QNB, Arab African International Bank, Intesa Sanpaolo, Credit Agricole, Attijariwafa Bank, Meeza, 123 Network, Visa, and Mastercard.

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