In Egypt, the user base of mobile wallet MyFawry is believed to nearly triple between 2020 and 2025, outpacing mobile money options from Vodafone and Orange. The MyFawry wallet is affiliated with Egyptian digital payment network Fawry, which is said to be responsible for around six out of 10 online shopping transactions within the country. The e-payment environment originally started out through POS terminals in local supermarkets or shops, and allowed for consumers to charge their phones or pay electricity bills. Eventually it grew to include apps on both iOS and Google Play. The popularity of this payment method is noticeable as more than half of the population in Egypt is unbanked - or does not have access to bank services.
Number of users of selected mobile wallets in Egypt in 2020, with forecasts from 2021 to 2025
(in millions)
The source does not provide any information regarding consumers using more than one app at the same time. It may, therefore, be that the total users of all apps combined is higher than the country's population
Supplementary notes
The source explicitly states that "we look (...) only for open wallets, ie those that have the ability to make payments on multiple sites, rather than in reference to an ability to transfer funds between different wallets. Thus we do not focus on transactions conducted via cards stored by a retailer purely for use on that retailer’s website or mobile app."
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Statista estimates. (October 21, 2021). Number of users of selected mobile wallets in Egypt in 2020, with forecasts from 2021 to 2025 (in millions) [Graph]. In Statista. Retrieved November 20, 2024, from https://www.statista.com/statistics/1271145/mobile-wallet-user-forecast-in-egypt/
Statista estimates. "Number of users of selected mobile wallets in Egypt in 2020, with forecasts from 2021 to 2025 (in millions)." Chart. October 21, 2021. Statista. Accessed November 20, 2024. https://www.statista.com/statistics/1271145/mobile-wallet-user-forecast-in-egypt/
Statista estimates. (2021). Number of users of selected mobile wallets in Egypt in 2020, with forecasts from 2021 to 2025 (in millions). Statista. Statista Inc.. Accessed: November 20, 2024. https://www.statista.com/statistics/1271145/mobile-wallet-user-forecast-in-egypt/
Statista estimates. "Number of Users of Selected Mobile Wallets in Egypt in 2020, with Forecasts from 2021 to 2025 (in Millions)." Statista, Statista Inc., 21 Oct 2021, https://www.statista.com/statistics/1271145/mobile-wallet-user-forecast-in-egypt/
Statista estimates, Number of users of selected mobile wallets in Egypt in 2020, with forecasts from 2021 to 2025 (in millions) Statista, https://www.statista.com/statistics/1271145/mobile-wallet-user-forecast-in-egypt/ (last visited November 20, 2024)
Number of users of selected mobile wallets in Egypt in 2020, with forecasts from 2021 to 2025 (in millions) [Graph], Statista estimates, October 21, 2021. [Online]. Available: https://www.statista.com/statistics/1271145/mobile-wallet-user-forecast-in-egypt/
