Financial Services & Insurance Research News

Report explores the cards and payments market trends and growth opportunities in the Egyptian cards and payments industry

Financial Services Market Research

GlobalData’s "The Cards and Payments Industry in Egypt: Emerging trends and opportunities to 2020" report provides detailed analysis of market trends in the Egyptian cards and payments industry.

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It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, payment cards, cash, and cheques during the review-period (2012-16e).

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Companies Mentioned:
Arab African International Bank
Commercial International Bank
Egyptian Banks Company
National Bank of Egypt
Banque Misr
Qatar National Bank
ALEXBANK-Intesa Sanpaolo
Crédit Agricole Egypt
123 Network

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 (2016-20f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

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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 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 credit transfers, cash, cheques, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- 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.

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- To replenish depleting foreign reserves and reduce illegal foreign currency trading in the country, the central bank directed banks to adopt measures to regulate the international use of Egyptian pound-denominated debit cards in 2016. Every bank must enforce a cap on payment card transactions and cash withdrawal limits for international transactions.

Following the announcement, Crédit Agricole Egypt banned the use of Egyptian pound-denominated debit cards abroad with effect from September 1, 2016. Likewise, CIB has reduced the limit on oversees spending on Egyptian pound-denominated debit cards.

The maximum monthly purchase limit of its Classic, Titanium, and Platinum cards are $50 (EGP906.60), $150 (EGP2,719.90), and $300 (EGP5,439.70) respectively.
- Alternative payments are slowly gaining prominence in Egypt. Visa in association with QNB Alahli Bank launched its mobile payment solution mVisa in Egypt in May 2017.

The service allows users to make in-store payments by scanning a QR code or entering the merchant’s identification number. Banque Misr launched its mobile wallet BM Wallet in February 2017, allowing customers to transfer funds to individuals in Egypt, withdraw cash, make utility bill payments, and conduct in-store purchases at participating merchants.

Similarly, CIB introduced its Smart Wallet in January 2016, allowing customers to conduct purchases, make utility bill payments, and pay for ticketing and mobile recharges.
- To increase financial inclusion and promote electronic payments, the Central Bank of Egypt introduced new regulations on mobile payment services in November 2016. Banks must now employ agents in remote areas to provide banking services to unbanked and low-income individuals.

Users can transfer funds from their mobile account to other accounts within the same bank. Additionally, micro-enterprises and small merchants can receive payments from customers on their mobile accounts.

The service enables consumers to receive cross-border family remittances on their mobile accounts, and the money transferred can be disbursed by beneficiaries through agents.

Reasons to access
- 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.

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