As Egypt accelerates toward a cashless economy, Malak El Baba, Vice President and General Manager of Visa Egypt, is spearheading a partnership that could reshape the country’s small and medium enterprise (SME) landscape — and, with it, Egypt’s economic future.
In collaboration with Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA), Visa has unveiled the results of a landmark study: “The Importance of Digital Payment Acceptance: Understanding Egypt’s Digital Payments Landscape.” The research, based on interviews with 270 small business owners, maps the opportunities and challenges SMEs face in adopting digital payments.
Malak El Baba’s vision is clear: enable Egypt’s vibrant yet under-digitized SME sector to participate in the formal economy. “Partnering with MSMEDA is a critical step toward empowering this vital sector, which is one of the cornerstones of Egypt’s economic growth,” she stated.
According to the study, 53% of merchants began accepting digital payments in the past two years, signaling a dramatic shift in payment preferences. More than 80% reported increased customer satisfaction and a positive impact on revenue. Yet, barriers remain: 41% of SMEs still express concerns over security and fraud, while many cite the need for simple, flexible tools that rival the ease of cash.
Visa, under El Baba’s leadership, is meeting these challenges head-on. From secure gateways like CyberSource to instant contactless technologies like Tap to Phone, the company is deploying a full suite of tools to support merchants of every size. Through education programs, loyalty tools, and tailored POS solutions, Visa is helping demystify digital finance and drive inclusive economic growth.
Crucially, digital payments also unlock eligibility for tax benefits under Egypt’s Law 152/2020 and Law 6/2025, encouraging businesses to enter the formal economy. Malak El Baba’s work is thus not just about technology — it’s about shaping policy outcomes and financial equity.
The partnership also highlights Egypt’s broader ambition to digitize trade, improve financial literacy, and increase GDP. As e-commerce booms, 59% of merchants now accept online payments, with 53% using social media for sales, according to the report. SMEs are no longer just street-front operations — they are becoming fully integrated players in Egypt’s digital economy.
Malak El Baba sees this moment as pivotal. “The surge in digital adoption creates real opportunity, not only for businesses but for the economy as a whole,” she noted. “Our commitment is to unlock the full potential of digital payments — for everyone.”
With Egypt’s digital economy poised to grow GDP by 1–2% annually, El Baba’s leadership stands as a key driver in that transformation. Visa’s research and outreach, combined with robust collaboration from government bodies, is ushering in a new era where even the smallest enterprise can thrive in a cashless world.
