Egypt’s mobile wallet transactions surge 80% as cashless drive accelerates

The total value of transactions climbed 72 percent to EGP 943 billion, up from EGP 548.6 billion a year earlier.

Active wallets also increased 29 percent to 46.3 million.

Vodafone Cash maintained its dominance of the market, accounting for 55 percent of wallets, 78 percent of transactions, and 81 percent of transaction value. It was followed by e& Cash with 21 percent, Orange Cash with 19 percent, and WE Pay with 5 percent.

Peer-to-peer transfers represented the largest share of activity—54 percent by volume and 71 percent by value—followed by mobile and internet top-ups (20 percent by volume), deposits (19 percent by volume, 15 percent by value), and withdrawals (5 percent by volume, 11 percent by value).

Other payments, including bills, donations, and retail purchases, accounted for just 2 percent.

Additionally, most deposits were made through bank-to-wallet transfers via InstaPay (65 percent), followed by cash deposits (22 percent), international remittances (7 percent), card-to-wallet transfers (3 percent), and ATM deposits (3 percent).

On the withdrawal side, however, 79 percent were direct cash withdrawals, 15 percent other payments, and 6 percent mobile or internet top-ups.

To encourage wider adoption and enhance security, the NTRA introduced new regulations aimed at reducing fraud and protecting users.

The authority also approved a service allowing Egyptians abroad to send remittances directly into local mobile wallets in Egyptian pounds, giving families easier access to official digital transfer channels.