Egypt Cards and Payments - Opportunities and Risks to 2027

Egypt Cards and Payments - Opportunities and Risks to 2027

Summary

GlobalData’s ‘Egypt Cards and Payments - Opportunities and Risks to 2027' 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, mobile wallets, credit transfers, cards, direct debits and cheques during the review-period (2019-23e).

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 (2023e-27). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The 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, mobile wallets, credit transfers, cards, direct debits and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce 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.

Scope

• To boost financial inclusion and promote debit card usage, in April 2023, the central bank mandated banks to provide accounts with no minimum deposits and fees, including a free debit card. For example, Al Ahli Bank of Kuwait offers financial inclusion accounts called Sohoula and Bedaya (for freelancers) with no account opening fees, no minimum balance requirements, and free debit cards.
• The IPN instant fund transfer system was launched in March 2022 by the Central Bank of Egypt. It allows users to make instant payments 24 hours a day, seven days a week, 365 days a year with a transaction limit of EGP70,000 ($2,827.42). More than 27 partner banks within Egypt participate in IPN. The system enables account-to-account transfers between customers of participating banks. Transfers can be initiated via multiple channels, including internet and mobile banking. It also allows fund transfers to bank accounts, mobile wallets, Meeza cards, and payment cards.
• The growing popularity of buy now pay later (BNPL) solutions poses a threat to the credit card market. Rising inflation has led many consumers to opt for BNPL services, which provide payments in easy installments even for low-value transactions. In September 2022, BNPL services provider Tabby was launched in Egypt. Tabby’s Split in 4 service enables shoppers to split purchases into four interest-free payments at both online and offline stores. Meanwhile, online shopping site Jumia is planning to launch its BNPL service in the country.

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.