Payment methods in Egypt

Let’s go to #Egypt 🇪🇬! A little walk to discover all the payment methods in Egypt.

Nuggets unearthed locally, global actors working there, different types of payment methods.

In 2022, Egypt has a population of over 106.5 million, and its e-commerce turnover is expected €6.4bn (2022).

 


 

Payment by card 

  • Local credit and debit cards capture more than 20% of the total eCommerce sales. There are 25 million issued cards in the country, of which 75% are debit, 20% credit, and 5% prepaid.
  • Local actor :
    • Meeza

 

Payment by cash payments

  • Egypt eCommerce is heavily based on cash payments, with high conversion of 64% of the total sales. Payment methods like Fawry, Mumkin, and Aman are quite popular among shoppers. These let people pay cash for ecommerce purchases via a nationwide network of local service points at banks, post offices, and retailers.
  • With local actors such as:
    • Easycash
    • Fawry
    • Aman

Payment by installment and BNPL

  • The BNPL competitive landscape has become a battleground with several heavyweights and newcomers fighting for market share. BNPL payments in Egypt are expected to grow by 132.8% on annual basis to reach US$ 434.7 million in 2022.
  • With local actors such as:
    • Sympl
    • ValU
    • Khazna
    • Fawry
    • mnt | Halan
    • Shahry

Payment by digital wallet and X-Pay

  • Mobile wallets in Egypt increased by 27% year-on-year to 25 million in 2021, according to the Financial Regulatory Authority (FRA). The total transactions conducted by mobile wallets surged by 160% y-o-y to EGP 233bn.
  • With local actors such as:
    • Fawry
    • SmartWallet
    • Etisalat cash

 


 

Payment methods in Egypt interesting you?

You want more? Access to the #PayWorldTour library