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Egypt
Most of the people in Egypt use Cash payment, 94% of the population. In second place stand cards like VISA and MASTERCARD. Credit and debit cards are becoming more popular but are still limited to urban areas and the younger, more affluent population. Digital wallets are gaining popularity, with several platforms such as Fawry, Meeza, Paymob, Momkn, Masary, and Aman providing convenient and secure payment options for individuals and businesses. With the increasing use of smartphones and the internet in the country, digital payment methods are expected to continue to grow in popularity in Egypt. Overall, these digital wallet platforms offer various benefits for individuals and businesses in Egypt, including convenience, security, and rewards programs. Each platform has its unique features and capabilities, so it's important to choose the one that suits your payment needs the most. With the growing popularity of digital payments in Egypt, these platforms are expected to continue to evolve and offer even more features and benefits in the future
Top banks
The most popular banks in Egypt:
Crédit Agricole Corporate
Crédit Agricole Corporate and Investment Bank is Crédit Agricole's corporate and investment banking entity. With a staff of 8,940 employees in 32 countries, Crédit Agricole CIB is active in a broad range of capital markets, investment banking and financing activities. Crédit Agricole Group (with 1,687 billion euros in assets);
ALEXBANK
ALEXBANK is one of Egypt’s leading private sector banks established in 1957 and participated by the Intesa Sanpaolo Group since 2007. ALEXBANK owns one of the largest private sector branch networks with a total of 173 branches located in every major Egyptian governorate employing over 4,300 individuals who proudly serve more than 1.8 million customers. ALEXBANK actively serves the widest spectrum of segments by providing value added financial products, services and solutions to Retail, Small Business, Medium and Corporate Enterprises. ALEXBANK is currently in the midst of a radical digital transformation aimed at providing our customers with the most unique of banking experiences, via our seamless multi-channel experience incorporating Internet & Mobile Banking, Cards, Electronic wallets, and the latest generation of point-of-sale & ATMs, all powered through the power of Big Data and empowered by key players in the Fintech ecosystem.
Commercial International
Commercial International Bank or CIB is an Egyptian bank, one of the largest banks in the Egyptian private sector.
National Bank of Egypt
National Bank of Egypt is a bank founded in Egypt in June 1898, and is the country's largest bank in terms of assets, deposits, loans, bank-capital, number of total branches, and employees.
Banque du Caire
Banque du Caire is a bank in Egypt, founded in 1952. It has a variety of services and products across the corporate and retail segments. The bank has worked on the institutionalization of microfinance across banks to promote financial inclusion.
Top payment methods
Fawry
Fawry is one of the most popular methods, particularly for online payments. Millions of Egyptians use it for various purposes, from utility bills to online shopping. Its gamification approach makes Fawry stand out from the crowd, where you can earn rewards by making purchases. Fawry is a safe and convenient payment method, and it's easy to set up an account. You can use Fawry to accept payments from customers in Egypt, as it's a good option for making payments to suppliers. If you're looking for a reliable yet easy-to-use payment method for your business, Fawry is an excellent option.
Meeza
Meeza is an online payment platform that enables businesses to accept payments online and at a point of sale. It is one of the top payment methods in Egypt and offers a wide range of features and benefits. One of the most popular is Meeza Card, which allows businesses to accept credit and debit card payments. Meeza is a trusted provider of payment solutions in Egypt. With a wide range of products and services, Meeza has something to offer businesses of all sizes. From card processing to mobile payments, Meeza has the tools businesses need to accept payments from their customers.
Momkn
Momkn is a digital payment platform that lets users send and receive money instantly. The platform is available in Egypt and allows users to transact in the local currency. Momkn is a safe and secure platform that helps users track their payments and view their transaction history. The venue is easy to use and allows users to top up their account balance with their debit or credit card. Momkn is a convenient and affordable way to send and receive money in Egypt for individuals and businesses.
Masary
Masary is a digital payments platform in Egypt that enables users to make cashless payments for various services. The platform provides a convenient and easy way for users to pay for utilities, transportation, government services, and more. It currently partners with various retailers who accept it as a payment method. Masary is simple and easy to use, with a user-friendly interface that even first-time users will easily understand. Masary offers a rewards program to help users earn points on every transaction. Users can redeem these points to avail of discounts and other benefits.
Mobile payment:
Vodafone Cash - Visit any Vodafone Store & Register in VF Cash service. You can Cash in Money into your wallet through Vodafone Stores, more than 400 Store across Egypt , working 7 days a week from 10 Am to 10 Pm.
Mobile payment:
Etisalat Flous - service wallet. Easy, fast and secure, Etisalat Flous is currently accessible 24/7 directly from your phone. There’s no need to carry cash on you anymore because your phone is now your wallet with Flous. All you need is a PIN every time you want to carry out a transaction, and we they make sure to transfer your money safely to whatever destination you want. The service works on any mobile phone from the basic phone to the latest and most sophisticated mobile device and is easily accessible from your phone menu in Arabic or English.
Mobile payment:
Orange Money enables major market players to accept online payments. It was designedfor Web merchants. The Orange Money Web Payment / M Payment service is dedicated to merchants, whether they already possess an e-commerce website or not. These merchants just have to sign up for our solution in an Orange store in their country of business. They must be officially registered retailers. Integration process goes with the API to your website. 3 easy steps: Subscribe to the Orange Money service and accept the Web Payment / M Payment offer conditions;Integrate with API;Bill customers for their purchases via Orange Money.
Concluding remarks
In summary, Egypt has a range of payment methods available, including:
Cash
Cash is widely accepted in Egypt and is the most common form of payment for small transactions.
Credit/debit cards
Most major credit and debit cards, such as Visa and Mastercard, are accepted in Egypt. However, it's important to note that not all merchants accept cards, and some may only accept local cards.
Bank transfers
Bank transfers can be used to pay for goods and services in Egypt, but they are less commonly used than cash or cards.
E-wallets
E-wallets, such as PayMob and Fawry, are also gaining popularity in Egypt. These services allow users to store money electronically and make payments through their mobile phones.
Mobile payments
Mobile payment services, such as Vodafone Cash, Etisalat Flous, and Orange Money, are becoming increasingly popular in Egypt. These services allow users to transfer money, pay bills, and make purchases using their mobile phones.
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Processing News is an Online Wikipedia of the payment world. We collect and publish information about payment habits in different countries, describing methods that payers use in their daily life.
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