As Egypt transitions from a cash-based economy to a more digital one, Paymob is at the forefront, offering innovative solutions for offline merchant acquiring and online payment gateways. Founded in 2015, Paymob provides an omnichannel payment infrastructure that empowers merchants of all sizes to accept payments via bank cards, mobile wallets, and buy-now-pay-later options.
In 2023, Egypt achieved a financial inclusion rate of 71%, surpassing Nigeria’s 64% and significantly improving from just 39% in 2018. However, despite this progress, digital payment adoption still lags behind the rate of account openings. A noticeable gap exists between account ownership and usage of payment products like cards and mobile wallets. Gender differences further amplify this disparity: while the gender gap in financial account ownership is 13%, it widens to 16% for mobile wallets and 25% for card usage.
Despite these challenges, digital payment activity in Egypt continues to rise, driven by a pandemic-induced
