The National Telecom Regulatory Authority (NTRA) has announced that mobile wallets in Egypt reached about 14.4m in October 2020, up from 12.3m wallets in March 2020, an increase of 17%. The last month only witnessed 9.9m electronic transactions through mobile wallets.
According to the NTRA, Vodafone Egypt accounts for 65% of mobile wallets in the country, followed by Orange (23%), Etisalat (11%), and WE (1%).
The volume of electronic transactions through mobile wallets increased to 9.9m transactions in October, compared to 3.9m transactions in March, a growth of 156%.
Moreover, the volume of electronic transactions between mobile wallets increased to 3.8m transactions in October, compared to 1.2m transactions in March, a growth of 224%. The average value of transaction was EGP 981.
Moreover, the volume of deposit increased by 145% in October, reaching 1.9m operations, compared to 0.8m deposits in March. The average value of deposit was EGP 1,264.
The number of withdrawals increased by 85%, reaching 1.2m operations in October, compared to 0.7m withdrawals in March. The average value of withdrawal was EGP 1,855.
As for the prepaid mobile online recharge (voice service / internet) using mobile wallets, the number of operations increased by 135%, reaching 2.7m in October, compared to 1.1m in March. The average value of prepaid mobile recharge was EGP 29.
The number of other transactions (including utility bill payments, salary transfers, donations, and online shopping) increased by 155%, reaching 370,000 transactions in October, compared to 145,000 in March. The average value of these transactions was EGP 180.