Mobile wallets increase to 16.3 million in Egypt in H1 2021: Telecom Regulator

Published 18 Aug,2021 via Daily News Egypt - The number of mobile wallets in Egypt increased to 16.3 million during the first half (H1) of 2021, compared to 14.1 million wallets in H1 of 2020, according to the National Telecom Regulatory Authority (NTRA).

According to NTRA, mobile wallets conducted 81 million transactions in H1 2021.

Mobile companies’ shares of e-wallets were: Vodafone 65%, Orange 20%, Etisalat 11%, and WE 4%.

NTRA’s report showed an increase in the number of electronic transactions carried out using mobile wallets by 175%, reaching 81 million transactions in H1 of 2021, compared to 29.5 million transactions in H1 of 2020.

The number of transfers from one electronic wallet to another increased by 300%, reaching 35.2 million transactions in H1 of 2021, compared to 8.8 million transactions in H1 of 2020, and the average value of the transaction amounted to EGP 1,203.

The number of deposit operations increased by 109%, reaching 13.8 million deposits in H1 of 2021, compared to 6.6 million deposits in H1 of 2020, and the average value of the transaction was EGP 1,580.

The number of withdrawals increased by 132%, according to the report, reaching 10.2 million withdrawals in H1 of 2021, compared to 4.4 million withdrawals in H1 of 2020, and the average value of the transaction was EGP 1,965.

Credit recharge (mobile / internet) using mobile wallets increased by 93%, reaching 16.4 million operations in H1 of 2021, compared to 8.5 million in H1 of 2020, and the average value of the operation was EGP 43.

Other payments operations (which include utility bills, salary transfers, incentives, alimony payments, donations, online shopping, savings and rural lending) increased by 323%, reaching 5.5 million transactions in H1 of 2021 compared to 1.3 million transactions in H1 of 2020, with the average transaction reaching EGP 175.

© 2021 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info)

DISCLAIMER: This content is provided to us “as is” and unedited by an external third party provider. We cannot attest to or guarantee the accuracy of information provided in this article from the external third party provider. We do not endorse any views or opinions included in this article