Egypt is witnessing a rapid shift toward a digital economy, driven by Egypt’s vision to promote financial inclusion and reduce reliance on cash. In this context, Visa, in collaboration with the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), launched a comprehensive study to assess the reality of digital payments in the Egyptian market, highlighting both opportunities and challenges for small and medium enterprises (SMEs), the backbone of the national economy.
Malak El Baba, Country Manager for Egypt in Visa, stated:
“SMEs are a fundamental engine of economic growth. The transition to digital payments represents a golden opportunity to empower these businesses, increase efficiency, boost sales, and expand into new markets.”
Study Results: 53% Adopted Digital Payments
The study revealed that 53% of SMEs adopted digital payments over the past two years, while 77% of SME owners believe that electronic payments will be a cornerstone for their business growth in the future.
Merchants also highlighted that digital payments have helped them in the following:
• Increase sales (37%)
• Strengthen customer loyalty (32%)
• Improve customer experience in terms of convenience and speed (46%)
According to Malak El Baba:
“The study showed that more than 80% of merchants are satisfied with digital payments due to the speed, security, and flexibility they provide. These technologies are no longer just a payment method but have become a strategic tool to improve customer experience and enhance business efficiency.”
High Satisfaction and Expansion Plans
The study confirmed that 80% of merchants expressed satisfaction with card payments, noting that they helped accelerate transactions and reduce financial risks. Among businesses that adopted digital payments, 61% plan to increase their investments in modern technologies, whether through card payments (45%) or mobile digital wallets (36%).
Challenges and Solutions
Despite remarkable growth, heavy reliance on cash and limited digital awareness among some merchants still pose challenges to full transformation. Visa is addressing these with practical solutions such as:
• Tap to Phone and Click to Pay, enabling small merchants to accept payments easily without costly devices.
• Customer data analytics tools to design tailored offers and boost loyalty.
• Loyalty programs and advanced fraud protection solutions.
Visa’s Commitment to Expansion and Financial Inclusion
Malak El Baba added:
“Visa is committed to supporting the business environment in Egypt through investments in fintech and by expanding partnerships with government and private institutions to reach governorates and rural areas. Our vision is clear: to empower every merchant, regardless of the business size, with safe and effective digital payment tools that enable growth and prosperity.”
Visa’s Commitment to Financial Inclusion
El Baba added:
“Visa is committed to supporting Egypt’s business ecosystem by investing in financial technology and expanding partnerships with both government and private institutions. Our goal is to extend digital payment solutions to governorates and rural areas. Our vision is clear: to empower every merchant, regardless of size, with secure and efficient digital tools that drive growth and prosperity.”
A Promising Future for E-Commerce
With the rapid expansion of e-commerce in Egypt, the study anticipates continued strong growth, fueled by the spread of smartphones and the use of social media as sales channels. Visa emphasized that digital transformation not only enhances SME performance but also contributes to reducing the informal economy and achieving greater financial transparency, delivering positive impact on the national economy.
