Egypt e-wallet transactions jump 108%

Ahmed Kamel

E-wallet transactions jumped by 108 per cent to 212 million in the first half (H1) of 2022, up from 101 million in 2021 H1, according to CBE data. In terms of value, e-wallet transactions leaped by 161 per cent to LE250 billion in 2022 H1, against LE96 billion in the same period a year earlier.

Transactions via points of sale (POS) rose by 46.5 per cent to 110.6 million in 2022 H1, up from 75.5 million in the same period a year ago, according to CBE data. In terms of value, POS transactions increased by 48.7 per cent to LE108.7 billion, up from LE73.1 billion in the same period in 2021.

E-commerce transactions leaped by 34 per cent to 60.3 million in 2022 H1, against 49.9 million in the same period a year earlier. In terms of value, e-commerce jumped by 69 per cent to LE22.3 billion, up from LE13.2 billion, according to CBE data.

Transactions via InstaPay totaled 1.33 million worth LE6.43 billion by end of June.

The CBE launched InstaPay on March 22. The mobile application enables individuals to carry out financial transactions and bank transfers instantly 24/7 through public holidays, in March. The application allows financial transactions to be carried out instantly.

Egypt e-wallet transactions jump 108%