Egypt sees rise in card payments, digital wallets
Shift toward mobile and instant payments signals changing consumer habits and financial inclusion efforts in the country
CAIRO, Egypt (MNTV) — Egypt’s credit card usage has grown steadily over the past four years, supported by expanded banking infrastructure, but digital wallets and instant payment platforms are increasingly taking the lead, according to data from the Central Bank of Egypt (CBE).
The figures indicate a modernizing financial ecosystem, even as traditional card growth faces potential saturation.
The CBE reported that the number of credit cards in circulation rose 61 percent to about 6.7 million by June 2025, reflecting sustained demand among banked consumers.
Investment in physical payment infrastructure has supported this growth, with the number of automated teller machines rising 52 percent to about 26,000 nationwide.
Point-of-sale terminals also increased 49 percent to roughly 258,000 devices, boosting electronic payment acceptance across retail, hospitality, and service sectors.
Despite this progress, analysts note that card penetration remains concentrated among higher-income consumers, representing only 5 to 10 percent of the population.
This concentration suggests that traditional card growth may slow unless financial institutions expand access to formal credit or adopt innovative underwriting models.
Meanwhile, Egypt’s payments landscape is shifting toward digital solutions. E-wallets and instant payment networks such as Fawry and InstaPay have seen rapid adoption, offering faster, more flexible alternatives to traditional card transactions.
These platforms are particularly appealing to unbanked and underbanked populations, complementing regulatory efforts to reduce cash usage, increase transaction transparency, and lower costs.
Industry experts suggest that the diverging trends signal the next stage of financial transformation in Egypt, with digital wallets expected to drive innovation in payments, real-time transactions, and value-added financial services.
Banks and FinTech firms are adjusting strategies to align with evolving consumer preferences, focusing on mobile-based solutions and account-to-account payments.
“The expansion of cards, ATMs, and POS devices has laid the foundation for a cashless economy, but the rapid uptake of digital wallets reflects a broader shift in how Egyptians interact with financial services,” a CBE official said.
As Egypt continues its push toward electronic payments, the growth of credit cards highlights past achievements, while the rise of digital payment platforms points to the future of financial inclusion, accessibility, and efficiency.
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