MSMEDA, Visa partner to drive digital payments for Egyptian SMEs
Egypt’s Medium, Small, and Micro Enterprise Development Agency (MSMEDA) and global payments firm Visa on Monday released findings from a joint study showing growing momentum for digital payments among Egyptian small and medium-sized enterprises (SMEs), as the government pushes to expand financial inclusion.
The study, titled “The Importance of Digital Payment Acceptance: Understanding the Digital Payments Landscape in Egypt,” found that more than half of surveyed merchants have adopted digital payment tools in the past two years, while 55 per cent of cash-only businesses expressed interest in making the shift.
The initiative aligns with Egypt’s national strategy to modernise the SME sector and boost integration into the formal economy, MSMEDA CEO Basil Rahmi said. “We’re working with key private sector partners to deliver digital tools that help business owners expand their reach and grow sustainably,” he added.
Rahmi noted that merchants adopting digital payment systems benefit from increased customer traffic and revenue, while also becoming eligible for tax and regulatory incentives under Laws 152/2020 and 6/2025.
According to the survey, over 80 per cent of early adopters reported satisfaction with digital payments, citing business growth and improved customer experience. The rise of e-commerce and mobile transactions has further driven adoption, with 59 per cent of SMEs now accepting online payments and 53 per cent using social media platforms as payment channels.
Essam El Daly, Visa’s Head of Merchant Sales and Acquiring for North Africa, Levant, and Pakistan, said SMEs across the region are increasingly embracing digital ecosystems. Visa is supporting this shift through offerings such as secure gateways (CyberSource), Tap to Phone technology, commercial cards, and training for merchants.
While the outlook is broadly positive, the study also highlighted ongoing challenges. Concerns around fraud and misinformation persist, with 41 per cent of respondents citing fears of theft linked to cash transactions. The report recommends targeted awareness campaigns and the promotion of success stories to accelerate adoption.
The study emphasises that digital payments play a critical role in helping businesses improve cash flow, expand access to financing, and reach new customer segments. On a macroeconomic level, wider card usage could significantly boost GDP, with a 1 per cent rise in card payments potentially adding $67 billion to global economic output.
Developed in collaboration with 4Sight Research & Analytics, the report is based on interviews with 270 SME owners and managers across Egypt. It offers a detailed look at the opportunities and barriers in Egypt’s fast-evolving digital payments landscape.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser