Egypt Cards and Payments - Opportunities and Risks to 2024

Egypt Cards and Payments - Opportunities and Risks to 2024

  • March 2021 •
  • 55 pages •
  • Report ID: 5876062 •
  • Format: PDF
Egypt Cards and Payments - Opportunities and Risks to 2024

Summary
’Egypt Cards and Payments - Opportunities and Risks to 2024’ report provides detailed analysis of market trends in the Egyptian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques and direct debits during the review-period (2016-20e).

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 (2020e-24f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This report provides top-level market analysis, information and insights into the Egyptian cards and payments industry, including -
- 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 cash, 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.

Scope
- The rising adoption of contactless payments during the review period drove overall card payments in Egypt. To capitalize on their growing popularity, major banks in the country including QNB Alahali, Credit Agricole, ABK-Egypt, and ADIB-Egypt now offer contactless cards. In March 2020, The United Bank of Egypt launched NFC cards for all its customers across 64 branches in Egypt. According to a transit survey conducted by Visa in early 2020, over 58% of surveyed commuters preferred to use contactless methods for payments if available. To promote contactless payments amid the COVID-19 pandemic, in March 2020 the Egyptian government doubled the contactless payment limit from EGP300 ($18.69) to EGP600 ($37.39).
- To encourage the use of cashless payments, in May 2020 the CBE launched an initiative to encourage merchant acceptance of electronic payments by funding the entire cost of deploying 100,000 POS terminals in the country by December 2020, at key locations such as supermarkets, gas stations, and pharmacies. Electronic payments in Egypt are also supported by increasing use of mobile wallets including PayPal, Masterpass, CIB Smart Wallet, and Raseedy Wallet. In August 2020, Cairo-based payment processing firm Paymob started supporting electronic payments in the country by enabling SMEs in Egypt to launch ecommerce sites.
- The government is taking steps to encourage electronic payments. Effective from May 1, 2019, all citizens are required to make electronic payments for government services, taxes, and fees in excess of EGP500 ($31.15). The government has also installed 7,000 POS terminals at government institutes, universities, traffic departments, and registration offices. Citizens can use their 123 Network debit and prepaid cards to make payments.

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.
Loading...

We are very sorry, but an error occurred.
Please contact support@reportbuyer.com if the problem remains.