Egypt E-commerce News

Recent industry report about Egypt E-commerce company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Egypt E-commerce Market industry experts.

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Egypt E-commerce News

  • May 2022 - valU Consumer Finance, an Egypt-based buy-now, pay-later FinTech platform, has partnered with Amazon to simplify consumer finance. The agreement intends to make valU a payment option on amazon.eg for consumers. According to the terms of the arrangement, valU will make sure its consumer finance products are available to eligible clients on amazon.eg, allowing them to split the total cost of purchases into numerous installments using valU.
  • August 2021 - Elaraby Group, an Egyptian consumer electronics and home appliance company, has signed a memorandum of understanding with Hisense International, an Egyptian consumer electronics and white goods manufacturer, to debut the Hisense brand in Egypt for the first time with Elaraby Warranty. Investments in the manufacturing of televisions, refrigerators, and air conditioners are estimated to reach $170 million due to the cooperation, with an average of 4000 jobs created. Hisense will be able to cement its position in Egypt thanks to the Elaraby Group's excellent distribution network and effective marketing and brand management.
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  • September 2022: The European Central Bank (ECB) chose Worldline to prototype the front-end user experience for the digital euro. By supporting key and possibly transformative projects like the digital euro, Worldline intends to actively participate in the growth of the payment industry and hence shares the common goal of the ECB and its partners.
  • March 2022: PayXpert launched "PayXpress" and partnered with NetPay to sell Android POS devices to merchants in France, Spain, and Taiwan. The PayXpress POS solution is ideal for travel, hospitality, and retail merchants, including hotels, restaurants, transport/taxi services, and luxury fashion brands. The solution enables merchants to accept Visa, MasterCard, American Express, Alipay, and WeChat on one single POS device.
  • November 2022 : Adyen, a global financial technology platform, partnered with Instacart, North America's leading grocery technology company, as an additional payments gateway processing partner. As part of the new partnership, Instacart would leverage Adyen functionality, including PINless debit enablement of transactions, to further optimize and improve authorization rates for an even more seamless customer experience.
  • September 2022 : Unified Payments Interface (UPI) leader PhonePe is working toward launching its own payments gateway as an extension to its QR code-based UPI Payments service and in-app payments. The gateway is expected to launch in the 1st Quarter of 2023.
  • August 2022 - The Customers of Interactive Brokers were provided access to 24-hour crypto trading via an improved online application made by Paxos Trust Company. Customers who choose to handle their account funding at Paxos can pre-fund their accounts during standard US banking hours and then trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), as well as other coins, round-the-clock.
  • March 2022 - IBKR GlobalTrader, a simple mobile trading tool, was launched by Interactive Brokers that allows investors to trade stocks anywhere around the globe. The app's minimalist design makes it simple for inexperienced investors to use while still being robust enough for experienced stock traders. On more than 80 stock exchanges in North America, Europe, and Asia, the platform enables investors to open an account for trading stocks in a matter of minutes.
  • February 2022 - Good Life Centre, a charitable organization based out of Tamil Nadu, sought a digital solution to streamline the donor management tracker. The PayPal team assessed the NGO's requirement to create mock screens for a donor management app. Once the workflow was designed, the UX and UI specialists brought the software to life. The outcome of the product was a seamless payment gateway for donations. It also comprised an admin flow that allowed for these donations to be tracked and managed and for offline contributions to be added.
  • January 2022 - CCAvenue, Infibeam Avenues' flagship brand and entity in the Indian digital payments industry, has announced that it has integrated NSDL Payments Bank's direct debit facility to benefit Indian eCommerce. The coming together of these two payment entities will provide new lucrative opportunities for lakhs of Indian web merchants currently availing CCAvenue's payment gateway services.
  • March 2024: Daikin announced the acquisition of BKF Klima in Denmark to drive the region's carbon reduction efforts and expand installer upskilling opportunities. The company will also open two new facilities, a Daikin Installer Training Center and a Daikin Experience Center for consumers, at Daikin's new offices in Brondby, Denmark. This strategic acquisition will enable Daikin to further leverage its extensive research and development expertise in low-carbon HVAC solutions for the region.
  • January 2024: Carrier acquired Viessmann Climate Solutions from the Viessmann Group. Through this acquisition, the company will strengthen its position in intelligent climate and energy solutions. The acquisition of Viessmann Climate Solutions strengthens Carrier’s position as a digitally enabled, end-to-end scalable, sustainable energy solutions provider that addresses all renewable, cooling, heating, solar PV, battery storage, and energy management requirements for the home.
  • September 2023 - The Edgio announced a strategic partnership with streaming technology providers Accedo, Bitmovin, Grabyo, and Vimond to address the rising need faced by media and entertainment when it comes to delivering OTT video due to its ability to quickly assemble and manage a streaming ecosystem that brings high-quality linear, live or on-demand video while reducing costs and growing efficiencies, which would support its market share in line with the strategic growth through partnerships.
  • August 2023 - Nexcess, the premium hosting provider optimized for WordPress, WooCommerce, and Magento, announced the launching of an integrated CDN powered by Cloudflare and available free of charge for all Nexcess fully managed to host customers, which shows the company's expansion of CDN solutions in the B2B environment, supporting its market growth in the future.
  • November 2023 - Sony partnered with NCSoft to have a notable role in developing and releasing these mobile games to expand beyond the console and broaden PlayStation's reach to a broader audience, which can support the company's growth in the future.
  • August 2023 - GeForce NOW announced the launch of Ultimate KovvaK's challenge. The launch helps gamers to improve their aim with a limited-time Steam discount. The company's gaming platforms leverage its GPUs and advanced software to enhance user's gaming experience with higher-quality graphics. This includes GeForce Experience, the gaming application that optimizes the PC user's settings for each application, enabling gamers to record and share their gameplay.
  • January 2024 - Atturra partnered with Sydney-based startup MyCISO to underpin its managed service for security program management in the education and commercial sectors. The MyCISO SaaS platform is designed to power and deliver assessments and management of security programs.
  • September 2023 - MicroAge, a digital transformation expert, announced the launch of MicroAge Managed Security Services (MSS) with proactive cybersecurity monitoring and support. MicroAge Managed Security Services offers round-the-clock, expert security monitoring of the client’s technology environment, helping to reduce alert fatigue and providing incident detection, response, and resolution.
  • February 2024 - Nervos CKB partnered with OneKey Wallet, creating a co-branded hardware wallet. Following the integration, users will be able to switch to the CKB mainnet within the OneKey Wallet for on-chain transfers. Additionally, users will be able to experience the CKB DApp ecosystem in the future. As the number of individuals using cryptocurrency increases, the demand for secure storage solutions also grows.
  • January 2024 - SafePal launched a limited edition USDC hardware wallet. The limited collection of customized Bluetooth open-source X1 hardware wallets have the same features as the standard model (including support for various networks and tokens).
  • October 2023: Patreon acquired Moment, a hosting and ticketing platform that lets creators hold digital events. The company facilitates ticketed live-streamed events, such as concerts or podcasts. Patreon plans to integrate Moment elements into its suite of tools for creators.
  • May 2023: The Hattiesburg Zoo is introducing a new online ticketing platform, allowing guests to purchase admission tickets before their visit. In addition, tickets for the Sloth Experience and pavilion rentals will also be available through the new ticketing site.

E-Commerce Market in Egypt Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)