Egypt Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Egypt Mobile Payments Market is Segmented by Type (Proximity Payment and Remote Payment). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Egypt Mobile Payments Market Size

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Egypt Mobile Payments Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 72.74 Billion
Market Size (2029) USD 157.86 Billion
CAGR (2024 - 2029) 16.76 %
Market Concentration Medium

Major Players

Egypt Mobile Payments Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Egypt Mobile Payments Market Analysis

The Egypt Mobile Payments Market size is estimated at USD 72.74 billion in 2024, and is expected to reach USD 157.86 billion by 2029, growing at a CAGR of 16.76% during the forecast period (2024-2029).

A mobile payment, also known as mobile money, mobile money transfer, or mobile wallet, is any of several payment processing services governed by financial rules and executed from or through a mobile device as the primary type of digital wallet.

  • Egypt collaborates with various worldwide payment solution companies to create the world's first "cashless city." To stimulate the development of its retail sector, the government was forced to invest in and increase the scope of mobile transactions.
  • The growing acceptance of sound wave-based mobile payments throughout the country will likely boost the market growth. Instead of using conventional technologies like banking apps, NFC, or card terminals, sound waves that hold encrypted information about the payments handle proper wave-based payment transactions.
  • Other significant causes include the rising importance of mobile devices, not just for POS shopping but also for mobile checkout, and the incorporation of P2P payments into messengers and social networks. High convenience and usefulness on mobile devices are becoming increasingly popular, particularly in mobile-first countries.
  • However, security worries about mobile payment options are expected to hamper industry expansion. The growing number of high-profile data breaches worldwide is projected to hinder the growth of the mobile payment industry over the forecast period. Customers prefer to make payments using debit or credit cards to avoid data leaks. Some consumers use debit or credit cards rather than make contactless payments.
  • The COVID-19 pandemic increased demand for remote, mobile payment services since most national banks shifted to digital channels to deliver customer services. Before the pandemic, Egyptians were more reliant on currency. However, the pandemic prompted a more significant than ever push toward cashless and mobile payments.

Egypt Mobile Payments Market Trends

Increasing Internet Penetration and Growing E-commerce Market Sector to Drive the Market

  • Enterprises are growing in the Egyptian e-commerce business, and the local market is expanding. In recent years, the country's payment industry environment has changed due to an increase in the number of new e-commerce start-ups and development in the e-commerce and banking sectors. Such advancements would increase the country's use of mobile-based payments.
  • Furthermore, the Ministry of Communication and Information Technology has developed a strategy to promote cashless payments as part of Egypt's Sustainable Development Strategy, Vision 2030, by encouraging initiatives such as e-commerce and e-government, electronics design, and digital manufacturing.
  • Furthermore, using information from the customer's previous purchases across e-commerce sites, regularly presenting them with beneficial suggestions, and suggesting lists of potential targeted acquisitions. Provide clients with personalized bonuses and discounts on things that they genuinely require. When a consumer enters your business, do not miss the opportunity to contact them via mobile application and provide the finest offer.
  • With the advancement of mobile technology, secure payment online systems explicitly designed for mobile phones have emerged. Users may make payments via credit or debit cards, net banking, mobile wallets, UPI payments, EMI payments, and other methods. Mobile wallets and UPI charges primarily target mobile consumers and allow them to execute a settlement in a handful of steps, propelling e-commerce development.
  • In Egypt, e-commerce was developed at a 33% yearly pace and was predicted to reach USD 3 billion by 2022. Increased Internet penetration, product selection expansion from new local and established regional companies, and improvements in transportation and payment infrastructure are some of the market's significant growth catalysts.
Egypt Mobile Payments Market: Transaction Volume of Mobile payments in Egypt and the Middle East in 2020 with a Forecast for 2025, in USD Millions

Proximity to Drive the Market

  • Mobile proximity payments are mobile payments in which The payer and payee are the exact person's location and communicate using proximity technology (such as Near Field Communication (NFC), Quick Response (QR) codes, Bluetooth technology, and so on).
  • Mobile contactless payments are a subset of mobile proximity payments, in which the underlying payment instrument is either a card or a credit transfer. Mobile proximity payments include both customer-to-business and person-to-person payments.
  • Furthermore, the widespread use of proximity payment among merchants across the country and the increased use of smartphones, mobile devices, and quicker connection have enabled retailers and customers to perform proximity payment via their cell phones, propelling market expansion.
  • Moreover, using the Internet, users may transfer monies from their bank accounts to other accounts on the same platform using person-to-person (P2P) technology. Although P2P is considered a distant payment, some providers have expanded their offering to include in-store payments, called Person-to-Business (P2B). Quick Response code (QR-code) is a mobile advertising technique that has been developed to distant and proximity mobile payment. It is based on a two-dimensional barcode that encodes information to make contactless transactions using a code reader on a smartphone.
Egypt Mobile Payments Market: Number of Internet Users in Egypt (2020 to 2025), USD Millions

Egypt Mobile Payments Industry Overview

Egypt Mobile Payments is fragmented and is controlled by a few important businesses such as Mastercard, Visa, PayPal, and Samsung. Apple Inc., as well as some local investors, These market leaders are concentrating their efforts on growing their consumer base in overseas nations.

  • December 2023 - Basata launched new e-payment services to boost financial inclusion in Egypt. Basata aims to introduce several services that are set to revolutionize the financial payments sector and enhance its strategic plan to expand its customer base and achieve financial inclusion.
  • March 2023 - XPay and Fawry announced an integrated partnership to provide the 'FawryPay Reference code' and cash-out services to 'XPay' customers and merchants in the Egyptian market, and 'XPay' will provide its customers and merchants with the latest types of electronic payment methods in order help enhance their quality of life and make it easier for them the process of managing their financial transactions.

Egypt Mobile Payments Market Leaders

  1. Paypal Holdings Inc.

  2. Samsung Corporation

  3. Apple Inc

  4. Google LLC (Alphabet Inc.)

  5. Inc

*Disclaimer: Major Players sorted in no particular order

Egypt Mobile Payments Market Concentration
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Egypt Mobile Payments Market News

  • April 2023: PayPal Holdings, Inc announced the addition of its New Features to Its Complete Payments Solution for small businesses. PayPal will also give small businesses access to four new features to help them drive payment acceptance and enhance how they run their business. This will include Apple Pay as a checkout option2, the ability for customers to save payment methods with the PayPal vault for faster future checkout, and a real-time account updater to help customers keep their payment methods up to date.
  • February 2023: Fawry provided FawryPay reference code service to My Fatoorah customers and merchants in the Egyptian market as increasing demand in the Egyptian market among users towards electronic payment solutions and options, where Fatoorah offers a wide range of electronic payment solutions at the regional level, which in turn are expected to enrich the payments market with many advanced services and technologies in terms of digital payment solutions.

Egypt Mobile Payments Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Sizing and Estimates of Egypt Mobile Payments Market

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Assessment of COVID-19 Impact on the market


    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Internet Penetration and Growing E-commerce Market

      2. 5.1.2 Increasing Number of Loyalty Benefits in Mobile Environment

    2. 5.2 Market Challenges

      1. 5.2.1 Security Issues Associated with Mobile Payments

    3. 5.3 Market Opportunities

    4. 5.4 Analysis on Enabling Technologies (Coverage to include NFC, QR, etc.)

    5. 5.5 Key Regulations and Standards in the Mobile Payments Industry


    1. 6.1 By Type (Market share in percentage based on relative adoption)

      1. 6.1.1 Proximity

      2. 6.1.2 Remote


    1. 7.1 Company Profiles

      1. 7.1.1 Paypal Holdings Inc.

      2. 7.1.2 Samsung Corporation

      3. 7.1.3 Apple Inc

      4. 7.1.4 Google LLC (Alphabet Inc.)

      5. 7.1.5 Inc.

      6. 7.1.6 American Express Co.

      7. 7.1.7 myFawry

      8. 7.1.8 Vodafone Cash

      9. 7.1.9 Orange Cash

      10. 7.1.10 Elasitat Cash

      11. 7.1.11 Careem PAY

    2. *List Not Exhaustive


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Egypt Mobile Payments Industry Segmentation

A mobile payment is a cash payment made for a product or service using a portable electronic device such as a smartphone, and technology can also be used to send money to friends or family members, among other things.

The Egypt mobile payments market is segmented by type (proximity payment and remote payment). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Type (Market share in percentage based on relative adoption)
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Egypt Mobile Payments Market Research FAQs

The Egypt Mobile Payments Market size is expected to reach USD 72.74 billion in 2024 and grow at a CAGR of 16.76% to reach USD 157.86 billion by 2029.

In 2024, the Egypt Mobile Payments Market size is expected to reach USD 72.74 billion.

Paypal Holdings Inc., Samsung Corporation, Apple Inc, Google LLC (Alphabet Inc.) and Inc are the major companies operating in the Egypt Mobile Payments Market.

In 2023, the Egypt Mobile Payments Market size was estimated at USD 60.55 billion. The report covers the Egypt Mobile Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Egypt Mobile Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Egypt Mobile Payments Industry Report

Statistics for the 2024 Egypt Mobile Payments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Egypt Mobile Payments analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Egypt Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)