\n \n \n “. concat(self. i18n. t(‘search. voice. recognition_retry’), “\n
DUBLIN, Sept. 15, 2022 /PRNewswire/ — Egypt’s “Egypt Prepaid Card and Digital Wallet Investment and Business Opportunity Data Book: Market Size and Forecast, Consumer Attitude
The prepaid card market (through value) in Egypt grew at a CAGR of 14. 9% in the period 2017-2021. During the forecast period from 2022 to 2026, the market is expected to register a CAGR of 16. 2%, from USD 2750 million in 2022 to USD 5 billion through 2026.
In recent years, the virtualization of payment tools has created a significant expansion opportunity for fintech companies in Egypt. In addition, according to the Fourth Quarter 2021 Global Prepaid Card Market Survey, the adoption of virtual wallets has particularly increased since the beginning of Covid-19. 19. In addition, government projects stimulate demand. The Central Bank of Egypt has played a key role in virtualizing the economy. For example, in September 2021, the bank approved licenses that allow merchants to pay bills contactless from mobile phones.
As a result, the new initiative has also helped the country’s large unbanked population. Along with this, the Egyptian government also plans to launch a shipping card for singles, which could increase the expansion of the prepaid card market in the next 4 to 8 quarters. Partnerships multiply to launch a prepaid card in the Egyptian market
Egypt has a massive unbanked population and partnerships are seen to expand cutting-edge virtual responses to satisfy the financial desires of those Egyptians.
In December 2021, Egyptian fintech Khazna partnered with Egyptian end-to-end electronic payment response provider Masria Digital Payments (MDP) and ADIB-Egypt Bank to launch the Khazna Meeza prepaid card in the country.
Customers will be able to access the new card through the Khazna app.
The prepaid card will be implemented through the electronic payment provider, MDP.
Fintech Corporations Collaborate with Banks to Offer Virtual Payroll Solutions
Egypt is home to many migrant workers, many of whom do not have bank accounts. As a result, corporations face many demanding situations when paying salaries or incentives. As a result, fintech corporations are launching cutting-edge responses to worker pay.
In August 2021, Dopay, an Egypt-based fintech, partnered with Bank ABC Egypt to offer virtual payroll responses to Bank ABC’s corporate customers.
The fintech may be offering this virtual payroll service after obtaining a banking license from the Central Bank of Egypt (CBE) Bank ABC.
Companies will be able to pay their workers through the virtual payment and payroll platform dopay instantly.
In addition, workers will be able to earn wages through a prepaid debit card.
Mastercard Expands Reach in Egypt’s Prepaid Card Market
With the accumulation of Covid measures, corporations are reshaping the company through technology integration. This trend has driven the emergence of partnerships in the country to gain market share.
In May 2021, Mastercard partnered with Egypt-based telda app to launch prepaid cards in the country.
Users will be able to access the app’s features, such as sending and receiving cash through the app and virtual card, without a bank account.
The publisher hopes that the banking choices presented through the virtual formula will correspond to the evolution of the virtual payment style of consumers, which will lead to a strong adoption of these prepaid payment tools in the country.
ScopeEgypt Digital Wallet Market Size and Forecast
Transaction trend analysis
Transaction trend analysis
Average consistent with the transaction
Egypt Digital Wallet Market Size and Forecast across Key Segments
Retail purchases (value, volume, value)
Travel (value, volume, value)
Entertainment and games (value, volume, value)
Restaurant (value, volume, value)
Recharge and payment of invoices (value, volume, value)
Attractiveness of the prepaid card market in Egypt
Load trend analysis
Transaction trend analysis
Transaction trend analysis
Average consistent with the transaction
Number of cards
Market share analysis across functional attributes: open vs. closed loop, 2017 – 2026
Analysis of market actions through prepaid cards
Future expansion momentum for open circuit prepaid cards in Egypt, 2017-2026
Transaction trend analysis
Transaction trend analysis
Average consistent with the transaction
Number of cards
Future expansion momentum for closed-loop prepaid cards in Egypt, 2017-2026
Transaction trend analysis
Transaction trend analysis
Average consistent with the transaction
Number of cards
Trends in the use of prepaid in Egypt
By age group
By income source group
By gender
General Purpose Prepaid Card Market Size and Forecast in Egypt
Size and forecast of the gift card market in Egypt
Gift Card Market Size and Forecast through Functional Attribute
Per Open Loop card
By closed-loop card
Gift Card Market Size and Forecast across Consumer Segments
By retail segment
By customer segment
Gift Card Market Share Analysis Across Retail Categories
Analysis of market share of gift cards through the gift occasion
Analysis of the percentage of position in the gift card market through the purchase position
Egyptian Gaming and Entertainment Prepaid Card Market Size and Forecast
Prepaid Youth and Campus Cards Market Size and Forecast in Egypt
Teen and Campus Prepaid Card Market Size and Forecast through Functional Attribute
By Open Loop Teen and Campus card
By Closed Loop Teen and Campus card
Market size and forecast of prepaid cards for business and administrative expenses in Egypt
Market Size and Forecast of Prepaid Cards for Business and Administrative Expenses across Consumer Segments
By small-scale segment
By intermediate segment
By sector
By segment
Prepaid Card Market Size and Forecast in Egypt
Prepaid Payroll Card Market Size and Forecast across Consumer Segments
By small-scale segment
By intermediate segment
By sector
By segment
Prepaid Food Card Market Size and Forecast in Egypt
Prepaid Food Card Market Size and Forecast across Consumer Segments
By small-scale segment
By intermediate segment
By sector
By segment
Currency Market Size and Forecast Travel Prepaid Card Market in Egypt
Forex Market Journey Prepaid Card Market Size and Forecast Across Consumer Segments
Retail
By small-scale segment
By intermediate segment
By sector
By segment
Prepaid Transit and Toll Card Market Size and Forecast in Egypt
Health and Wellness Prepaid Card Market Size and Forecast in Egypt
Egypt Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
Prepaid Fuel Card Market Size and Forecast in Egypt
Market Duration and Forecast for Egypt Utilities and Prepaid Cards
For more on this report, https://www. researchandmarkets. com/r/d62ac4
Media Contact:
Research and MarketsLaura Wood, Seniorpress@researchandmarkets. com Manager
Forest. hours, call 1-917-300-0470 For USA/Canada, call toll-free at 1-800-526-8630 For GMT hours, call 353-1-416-8900
Fax United States: 646-607-1904 Fax (outside the United States): 353-1-481-1716
Logo: https://mma. prnewswire. com/media/539438/Research_and_Markets_Logo. jpg
View Content: https://www. prnewswire. com/news-releases/egypt-prepaid-card-and-digital-wallet-market-databook-2022-market-size-and-forecast-consumer-attitude–behaviour – retail-spend-2017-2026-301625227. html
SOURCE Research and Markets