The Central Bank of Egypt (CBE) announced today that the total number of mobile phone wallets increased by nearly 20% to stand at 34 M by the end of June through 30 service providers, including IT companies, via 23 banks, with an average global increase of nearly 13%.
CBE said in its statement that the values of monthly transactions of mobile phone wallets were up to about 152% to exceed 100 bln Egyptian pounds, with an average global increase of about 22%.
The Bank added that monthly operations of mobile phone wallets grew by 130% to nearly 85M by the end of June, with an average global increase of about 19%.
The CBE explained that customers can deposit in the wallet through cards, bank accounts (AVL), and the mobile phone wallet; they can also pay bills, charge mobile balances, renew licenses, and pay services and donations, in addition to paying and purchasing (P2M) through websites and applications on the Internet and at Stores using (R2P&QRCODE).
It further mentioned that mobile phone wallets allow transferring and receiving money to and from any (p2p) wallet, and they also allow withdrawals and deposits through service providers and (ATMs).
The statement concluded that through the mobile phone wallet, it is possible to create a virtual card for online purchases (VCN) and to receive transfers from abroad on the wallet.
