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The Cards and Payments Industry in Egypt: Emerging trends and opportunities to 2020

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The Cards and Payments Industry in Egypt: Emerging trends and opportunities to 2020

Summary

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. 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).

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.

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.

Scope

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, Credit 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 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.

READ MORE

Table Of Content

Scope

Table of Contents

EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 4

1.3. Top five industry events 5

2. PAYMENT INSTRUMENTS 11

2.1. Current payment environment 11

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 13

3.1. E-commerce market analysis 13

3.2. Alternative payment solutions 14

3.2.1. Flous 14

3.2.2. Phone Cash 14

3.2.3. PayPal 14

3.2.4. CashU 14

3.2.5. CIB Smart Wallet 15

3.2.6. BM Wallet 15

3.2.7. mVisa 15

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 16

4.1. Regulatory framework 16

4.2. Anti-money laundering and counter-terrorism financing 16

4.3. Foreign direct investment regulations 17

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 18

6. PAYMENT CARDS 20

7. DEBIT CARDS 22

7.1. Debit cards market analysis 22

7.2. Competition in the debit card market 24

7.3. Debit cards comparison 26

8. PAY-LATER CARDS 27

8.1. Pay-later card market analysis 27

8.2. Competition in the pay-later card market 29

8.3. Pay-later cards comparison 31

9. PREPAID CARDS 32

10. APPENDIX 34

10.1. Abbreviations and acronyms 34

10.2. Supplementary data 35

10.3. Definitions 43

10.4. Methodology 45

10.5. Bibliography 47

10.6. Further reading 47


List Of Figure

List of Figures

Figure 1: Egypt: payment instrument shares by transaction value (%), 2012 vs 2016 11

Figure 2: Egypt: payment instrument shares by transaction volume (%), 2012 vs 2016 12

Figure 3: Egypt: e-commerce value 13

Figure 4: Egypt: population and economic indicators 18

Figure 5: Egypt: ATMs, POS terminals, and household consumption 19

Figure 6: Egypt: payment cards transaction value and cards in circulation, 2012-20f 20

Figure 7: Egypt: debit card penetration and turnover per card 22

Figure 8: Egypt: debit card scheme and issuer transaction value shares, 2016 24

Figure 9: Egypt: pay-later card penetration and turnover per card 27

Figure 10: Egypt: pay-later card scheme and issuer transaction value shares, 2016 29

Figure 11: Egypt: prepaid cards in circulation and transaction value, 2012-20f 32


List Of Table

List of Tables

Table 1: Egypt: key facts, 2016 4

Table 2: Egypt: regional benchmarking of payment cards, 2016 4

Table 3: Egypt: mode of entry for foreign banks 17

Table 4: Egypt: debit cards comparison and key features, 2017 26

Table 5: Egypt: gold credit cards comparison and key features, 2017 31

Table 6: Egypt: premium credit cards comparison and key features, 2017 31

Table 7: Egypt: payment instrument transaction values (EGPbn), 2012-16e 35

Table 8: Egypt: payment instrument transaction values ($bn), 2012-16e 35

Table 9: Egypt: payment instrument transaction volumes (millions), 2012-16e 35

Table 10: Egypt: payment cards in circulation by type (millions), 2012-20f 36

Table 11: Egypt: volume of payment card transactions (millions), 2012-20f 36

Table 12: Egypt: value of payment card transactions (EGPbn), 2012-20f 36

Table 13: Egypt: value of payment card transactions ($bn), 2012-20f 36

Table 14: Egypt: debit cards in circulation (millions), 2012-20f 36

Table 15: Egypt: debit card transaction volumes, 2012-20f 37

Table 16: Egypt: debit card transaction values (EGP), 2012-20f 37

Table 17: Egypt: debit card transaction values ($), 2012-20f 37

Table 18: Egypt: debit cards in circulation by scheme (millions), 2012-16e 38

Table 19: Egypt: debit card transaction values by scheme (EGPbn), 2012-16e 38

Table 20: Egypt: debit card transaction values by scheme ($bn), 2012-16e 38

Table 21: Egypt: debit card transaction values by issuer (EGPbn), 2012-16e 38

Table 22: Egypt: debit card transaction values by issuer ($m), 2012-16e 39

Table 23: Egypt: pay-later cards in circulation (millions), 2012-20f 39

Table 24: Egypt: pay-later card transaction volumes, 2012-20f 39

Table 25: Egypt: pay-later card transaction values (EGP), 2012-20f 40

Table 26: Egypt: pay-later card transaction values ($), 2012-20f 40

Table 27: Egypt: pay-later cards in circulation by scheme (000s), 2012-16e 40

Table 28: Egypt: pay-later card transaction values by scheme (EGPm), 2012-16e 41

Table 29: Egypt: pay-later card transaction values by scheme ($m), 2012-16e 41

Table 30: Egypt: pay-later card transaction values by issuer (EGPm), 2012-16e 41

Table 31: Egypt: pay-later card transaction values by issuer ($m), 2012-16e 42

Table 32: Egypt: prepaid cards in circulation (millions), 2012-20f 42

Table 33: Egypt: prepaid card transaction values (EGPbn), 2012-20f 42

Table 34: Egypt: prepaid card transaction values ($m), 2012-20f 42

Table 35: Key definitions 43

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Products and Companies

Products

The cards and payments industry in Egypt, Financial cards, Debit cards, Credit cards, E-commerce, Alternative payments


Companies

Arab African International Bank Commercial International Bank Egyptian Banks Company National Bank of Egypt Banque Misr Qatar National Bank ALEXBANK-Intesa Sanpaolo HSBC Credit Agricole Egypt 123 Network Visa Mastercard

Company Profile

Company Profile Title

The Cards and Payments Industry in Egypt: Emerging trends and opportunities to 2020

Summary

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. 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).

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.

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.

Scope

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, Credit 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 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.

READ MORE

Scope

Table of Contents

EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 4

1.3. Top five industry events 5

2. PAYMENT INSTRUMENTS 11

2.1. Current payment environment 11

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 13

3.1. E-commerce market analysis 13

3.2. Alternative payment solutions 14

3.2.1. Flous 14

3.2.2. Phone Cash 14

3.2.3. PayPal 14

3.2.4. CashU 14

3.2.5. CIB Smart Wallet 15

3.2.6. BM Wallet 15

3.2.7. mVisa 15

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 16

4.1. Regulatory framework 16

4.2. Anti-money laundering and counter-terrorism financing 16

4.3. Foreign direct investment regulations 17

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 18

6. PAYMENT CARDS 20

7. DEBIT CARDS 22

7.1. Debit cards market analysis 22

7.2. Competition in the debit card market 24

7.3. Debit cards comparison 26

8. PAY-LATER CARDS 27

8.1. Pay-later card market analysis 27

8.2. Competition in the pay-later card market 29

8.3. Pay-later cards comparison 31

9. PREPAID CARDS 32

10. APPENDIX 34

10.1. Abbreviations and acronyms 34

10.2. Supplementary data 35

10.3. Definitions 43

10.4. Methodology 45

10.5. Bibliography 47

10.6. Further reading 47


List Of Figure

List of Figures

Figure 1: Egypt: payment instrument shares by transaction value (%), 2012 vs 2016 11

Figure 2: Egypt: payment instrument shares by transaction volume (%), 2012 vs 2016 12

Figure 3: Egypt: e-commerce value 13

Figure 4: Egypt: population and economic indicators 18

Figure 5: Egypt: ATMs, POS terminals, and household consumption 19

Figure 6: Egypt: payment cards transaction value and cards in circulation, 2012-20f 20

Figure 7: Egypt: debit card penetration and turnover per card 22

Figure 8: Egypt: debit card scheme and issuer transaction value shares, 2016 24

Figure 9: Egypt: pay-later card penetration and turnover per card 27

Figure 10: Egypt: pay-later card scheme and issuer transaction value shares, 2016 29

Figure 11: Egypt: prepaid cards in circulation and transaction value, 2012-20f 32


List Of Table

List of Tables

Table 1: Egypt: key facts, 2016 4

Table 2: Egypt: regional benchmarking of payment cards, 2016 4

Table 3: Egypt: mode of entry for foreign banks 17

Table 4: Egypt: debit cards comparison and key features, 2017 26

Table 5: Egypt: gold credit cards comparison and key features, 2017 31

Table 6: Egypt: premium credit cards comparison and key features, 2017 31

Table 7: Egypt: payment instrument transaction values (EGPbn), 2012-16e 35

Table 8: Egypt: payment instrument transaction values ($bn), 2012-16e 35

Table 9: Egypt: payment instrument transaction volumes (millions), 2012-16e 35

Table 10: Egypt: payment cards in circulation by type (millions), 2012-20f 36

Table 11: Egypt: volume of payment card transactions (millions), 2012-20f 36

Table 12: Egypt: value of payment card transactions (EGPbn), 2012-20f 36

Table 13: Egypt: value of payment card transactions ($bn), 2012-20f 36

Table 14: Egypt: debit cards in circulation (millions), 2012-20f 36

Table 15: Egypt: debit card transaction volumes, 2012-20f 37

Table 16: Egypt: debit card transaction values (EGP), 2012-20f 37

Table 17: Egypt: debit card transaction values ($), 2012-20f 37

Table 18: Egypt: debit cards in circulation by scheme (millions), 2012-16e 38

Table 19: Egypt: debit card transaction values by scheme (EGPbn), 2012-16e 38

Table 20: Egypt: debit card transaction values by scheme ($bn), 2012-16e 38

Table 21: Egypt: debit card transaction values by issuer (EGPbn), 2012-16e 38

Table 22: Egypt: debit card transaction values by issuer ($m), 2012-16e 39

Table 23: Egypt: pay-later cards in circulation (millions), 2012-20f 39

Table 24: Egypt: pay-later card transaction volumes, 2012-20f 39

Table 25: Egypt: pay-later card transaction values (EGP), 2012-20f 40

Table 26: Egypt: pay-later card transaction values ($), 2012-20f 40

Table 27: Egypt: pay-later cards in circulation by scheme (000s), 2012-16e 40

Table 28: Egypt: pay-later card transaction values by scheme (EGPm), 2012-16e 41

Table 29: Egypt: pay-later card transaction values by scheme ($m), 2012-16e 41

Table 30: Egypt: pay-later card transaction values by issuer (EGPm), 2012-16e 41

Table 31: Egypt: pay-later card transaction values by issuer ($m), 2012-16e 42

Table 32: Egypt: prepaid cards in circulation (millions), 2012-20f 42

Table 33: Egypt: prepaid card transaction values (EGPbn), 2012-20f 42

Table 34: Egypt: prepaid card transaction values ($m), 2012-20f 42

Table 35: Key definitions 43

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS

Products

The cards and payments industry in Egypt, Financial cards, Debit cards, Credit cards, E-commerce, Alternative payments


Companies

Arab African International Bank Commercial International Bank Egyptian Banks Company National Bank of Egypt Banque Misr Qatar National Bank ALEXBANK-Intesa Sanpaolo HSBC Credit Agricole Egypt 123 Network Visa Mastercard