Between E-Wallets and Money Apps, Different Digital Payment Options in Egypt ...Egypt

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Between E-Wallets and Money Apps, Different Digital Payment Options in Egypt
Photo credit: InstaPay Since financial inclusion is a cornerstone of Egypt’s Vision 2030, the Egyptian government has been keen on introducing and promoting digital financial services. The Central Bank of Egypt (CBE) launched multiple initiatives on the importance of banking across governorates, leading to an increase in the number of banked citizens. Although cash is still king in Egypt, digital payments are becoming increasingly popular in the country due to the spread of e-wallets and digital financial services in the last few years. In 2022, 64 percent of Egyptians increased their adoption of digital payment solutions, and in the same year, the number of mobile phone wallets in Egypt rea

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