Payment methods in Egypt- statistics & facts
In a rapidly evolving digital age, Egyptians remain highly dependent on cash for their payment transactions. This comes as a result of the low banked population, cultural limits on banking women, public trust in fiat currency, and the large informal labor market among others. Nevertheless, Egypt is in the midst of a noticeable change affecting its financial sector. In 2023, its financial inclusion rate jumped to reach nearly 71 percent of the population, a substantial increase from around 27 percent in 2016. Such increase can partly be attributed to the rise in access to emerging payment methods. A survey conducted in 2022 revealed, that around 88 percent of the respondents embraced at least one alternative payment method, thereby slowly moving away from traditional ones.














































