In light of supporting the State’s plan to achieve Financial Inclusion, the National Telecom Regulatory Authority of Egypt (NTRA) is always keen on coordinating with telecom operators to create a digital payment environment as well as set the regulatory frameworks of payment via mobile wallets. This would actually disseminate e-payment channels contributing to a faster transformation from a cash to a cashless society. In this vein, NTRA issued the 2021 semi-annual report (covering the time period between January and June 2021) on the usage indicators of mobile wallets provided by telecom operators, being extremely keen on raising awareness of e-payment channels. In fact, the total number of mobile wallets reached 16.3 million nationwide. Number of e-transactions carried out was also 81 million distributed as follow: Vodafone by 65%, Orange by 20%, Etisalat by 11% and WE by 4%. A noticeable increase of mobile wallet usage indicators was observed as well, compared to the same period of the previous year; 2020.

The following figures were also observed:

• Number of e-wallets increased by 16%, reaching 16.3 million during the first-half of 2021, compared to 14.1 million during the same period of 2020.
• Number of e-transactions carried out via wallets increased by 175% to reach 81 million during the first half of 2021, compared to 29.5 million during the same period of 2020.
• Transfer transactions from one mobile wallet to another increased by 300%, reaching 35.2 million during 2021 first half compared to 8.8 million during the same period of 2020. Moreover, the value of transactions scored EGP 1203 in average.
• Deposits increased by 109%, reaching 13.8 million for the first half of 2021 compared to 6.6 million during the same period of 2020. Furthermore, transactions value scored EGP 1580 in average.
• Withdrawals increased by 132% reaching 10.2 million during 2021 first half, in comparison to 4.4 million during the same period of 2020. The average value of transactions scored EGP 1965 as well.
• Credit re-charge transactions (mobile/ internet) using e-wallets increased by 93%, reaching 16.4 million during 2021 first half compared to 8.5 million during the same period of 2020. Furthermore, value of transactions scored EGP 43 in average.
• Other payments, including utilities, payrolls, incentives, alimonies, donations, e-shopping, savings and rural loans, increased by 323%, reaching 5.5 million during 2021 first half compared to 1.3 million during the same period of 2020. Moreover, the value of transactions scored an average amount of EGP 175.

Whereas the following 3 services were actually used the most by subscribers:

• Transfers: Money amounts transferred from a mobile wallet to another formed 43% of the overall transactions.
• Cash deposits and withdrawals to and from mobile wallets: Such transactions were carried out either directly through operator’s outlets or via banking ATM machines, forming 30% of the overall transactions.
• Credit re-charge (mobile/ internet): Mobile credit re-charged or internet invoices paid through a specific amount deducted afterwards from the available credit of mobile wallets, forming 20% of the overall transactions.

As for the geographic distribution of mobile wallets all over Egypt, the service was remarkably observed in all Governorates. In fact, Governorates of Cairo, Giza, Alexandria, Ad Daqahliyah and Ash Sharqiyah came on top by 47% of mobile wallet holders. In addition, the service was widely disseminated among all age brackets, with a relative increase within the age band of 26-45 years old. 

Measures and initiatives taken by NTRA to foster the usage of e-payment channels in Egypt’s telecom market:

1. Pension-receiving process via mobile wallets was provided and facilitated

NTRA approved the process of providing pension for eligible segments via mobile wallets, in cooperation with the National Organization of Social Insurance (NOSI) and the Central Bank of Egypt (CBE). The targeted segment of phase one is estimated by 2.2 million citizens.

2. Service of money-transfer from banking accounts to mobile wallets without making any personal visits to branches was launched

NTRA approved the service of directly transferring money from banking accounts to mobile wallets, without any need whatsoever to visit the branch in person. 

3. Service of purchasing via mobile wallets was launched

NTRA approved the service of making purchases via mobile wallets. This service is activated in outlets (Eg. stores, supermarkets, etc…) or via different apps as well as websites. It is also available for 24 hours without any extra costs.