Digital payments in Egypt reach $19.63bn as wallets soar

By Vriti Gothi

Egypt’s digital payments landscape is experiencing unprecedented momentum, with mobile wallet transactions recording a substantial 72% year-on-year growth in the second quarter of 2025, according to the National Telecom Regulatory Authority (NTRA). The total value of transactions conducted through mobile wallets reached $19.63 billion in Q2, up from $11.41 billion in the same period last year, highlighting robust adoption of digital financial services and the growing confidence of consumers in secure, cashless solutions.

The volume of transactions processed through mobile wallets also demonstrated significant expansion, rising 80% year-on-year to 717.7 million, compared with 397.7 million in Q2 2024. Concurrently, the number of active e-wallets increased by 29% to 46.3 million, reflecting the rapid growth of digitally engaged consumers across Egypt and signalling a shift towards a more inclusive, technology-driven financial ecosystem.

The NTRA has played a pivotal role in shaping this evolution, collaborating closely with telecom operators to strengthen Egypt’s digital payments infrastructure. The authority continues to implement comprehensive regulatory frameworks and security protocols designed to protect users, reduce fraud risks, and reinforce trust in digital financial services. These measures not only support the growth of mobile wallets but also contribute to broader financial inclusion objectives, ensuring that both urban and rural populations benefit from innovative, secure, and user-friendly payment solutions.

Vodafone Cash continues to lead the market, representing 55% of total wallets, 78% of transactions, and 81% of transaction value. e& Cash follows with a 21% share of wallets, 11% of transactions, and 10% of value. Orange Cash accounts for 19% of wallets, 10% of transactions, and 8% of transaction value, while WE Pay holds a 5% share of wallets and just 1% of both transactions and value.

In terms of transaction types, wallet-to-wallet transfers dominate the ecosystem, accounting for 54% of all transactions and 71% of their total value. Deposits contribute 19% of transactions and 15% of value, while withdrawals represent 5% of transactions and 11% of value. Top-ups, though comprising 20% of transaction volume, account for only 1% of value. Other payments—including donations, utility bills, and eCommerce transactions represent 2% of both transaction volume and value, illustrating the growing diversity of services accessible through mobile wallets.

Cash inflows into e-wallets are primarily driven by InstaPay transfers from bank accounts (65%), supplemented by direct deposits (22%), inbound remittances (7%), and card- and ATM-based deposits (3% each). On the outflow side, withdrawals constitute 79% of disbursements, other payments 15%, and top-ups 6%, underscoring the central role of mobile wallets in daily financial management and cashless transactions.

The continued growth of mobile wallet usage in Egypt underscores the country’s dynamic digital transformation journey. By combining secure technology, consumer-focused design, and regulatory support, mobile wallets are not only reshaping how individuals transact but also supporting broader economic development, financial inclusion, and innovation in digital finance.

As mobile wallet adoption accelerates, Egypt is positioning itself as a regional leader in digital financial services, with customer-centric solutions driving convenience, efficiency, and trust. The evolution of this ecosystem reflects a forward-looking financial landscape where technology, innovation, and inclusivity converge to create a robust, resilient, and accessible digital economy.