Egypt’s non-cash transactions to reach $27.63 bln by 2027 – annual report

Non-cash volume transactions in Egypt is expected to surge to $27.63 billion by 2027 with about a 14.03 percent annual growth rate, according to World Payments report 2023 published by Capgemini Institution for Research on Friday.

The report revealed that 62 percent of consumers and 54 percent of businesses employed digital wallets, while 58 percent of consumers and 48 percent of businesses utilised QR code payments in 2023.

“The payments sector in Egypt has begun to develop at an unprecedented pace, and this is reflected in the significant increase in non-cash transactions,” said Hossam Seif ElDin, CEO of Capgemini in Egypt.