Egypt Recorded 0.18 Cards Per Inhabitant in 2013 In terms of Card Penetration

Date: 2015-09-18

“• In terms of the number of cards in circulation, Egyptian payment cards (including debit and credit cards) registered positive growth during the review period, recording a compound annual growth rate (CAGR) of 11.17%, increasing from 10 million in 2009 to 15.3 million in 2013. In terms of transaction value, payment cards valued to EGP161.7 billion (US$23.5 billion) in 2013, after registering a review-period CAGR of 9.07%.

• In 2013, the average transaction value (ATV) in Egypt was US$97.7, which was the lowest among Egypt’s peer countries: Oman, Kuwait, Saudi Arabia and the UAE. Kuwait recorded the highest ATV with US$919.6, followed by the UAE with US$263.1, Oman with 207.4 and Saudi Arabia with US$128.8.

• In terms of card penetration, Egypt recorded 0.18 cards per inhabitant in 2013, while the UAE recorded 1.96, Kuwait recorded 1.32, Oman recorded 1.03 and Saudi Arabia recorded 0.69. In terms of frequency of use, Egypt recorded 15.7 transactions per card in 2013, while Saudi Arabia recorded 91.1, Kuwait recorded 47.7, the UAE recorded 43.1 and Oman recorded 13.4.

• In 2010, the CBE selected GiroNil to co-develop the national Automated Clearing House (ACH) system in Egypt. The electronic network, built by the EBC and GiroNil Egypt, was launched in June 2010 when the CBE and all 38 banks operating in the market were successfully interlinked. The ACH system is designed to handle small-value retail payments and increase the use of cash substitutes, particularly cards. The growing payment infrastructure, with the CBE’s initiation, is forecast to increase card use and circulation in Egypt.”


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