EGYPT Trends and Developments Contributed by: Dina Kamel, Helal El Hossary, Farida Tawfik and Ahmed Ammar, Zaki Hashem
Under the CBE Law, it is possible for licensed entities to issue cryptocurrencies based on blockchain tech - nologies, but it is worth noting that no licence has yet been issued or granted for any company to deal in or trade with cryptocurrencies in Egypt. Clear regulatory pathways may develop in the future, but for now, firms must proceed cautiously on the basis of legal advice and consider the non-crypto uses of blockchain. Future Outlook Egypt is witnessing a rapid transformation in pay - ments, driven by regulatory reforms, technological adoption and changing consumer behaviour. The CBE has been at the forefront, promoting a cashless society through services like Instapay, card tokenisa - tion on mobile applications and other payment meth - ods using smart mobile devices or watches. These initiatives have built consumer trust in new electronic payment solutions, making electronic payments more accessible and secure. This is shown by the growth in mobile wallets and prepaid cards, among other things, which enable con - sumers to interact and transact without cash. Nowa - days, even children have prepaid cards, encourag - ing the early acquisition of digital finance habits and increasing trust in the digital world. The latter dem - onstrates the shift in consumer behaviour towards using digital channels for payments, point-of-sale (POS) purchases, e-commerce and rotating savings and credit association (ROSCA). Moreover, biometric authentication, contactless transactions and secure mobile apps have enhanced trust and convenience, driving wider acceptance in the eyes of citizens. The CBE’s proactive licensing framework for PSPs, PSOs and digital banks is fostering competition, innovation and financial inclusion. Licensed entities can now offer diverse digital payment services, from prepaid and tokenised cards to instant payment solu - tions.
The newest trend, emerging in early 2026, is the launch of contactless payment acceptance services through smart devices, such as mobile phones, phones and tablets, using soft POS applications. This expansion of electronic payment systems will facilitate financial transactions between customers and merchants. Similar developments are being witnessed in the NBFS market, which – through the progressive and constantly updated FRA regulations – have encour - aged consumers and businesses with no access to traditional banking facilities or financing options to fill the relevant financing gaps. This has increased consumers’ purchasing power, removing the fear of criminal charges in case of default; increasingly, it is required that guarantees be civil in nature rather than instruments that could lead to incarceration in case of default. In the same vein, micro, small and medium- sized businesses have benefitted greatly, with the abil - ity to obtain access to non-banking financial products through applications fostering growth and develop - ment. Such businesses include ride-sharing drivers, small pharmacies and shops, and various start-ups. The above-mentioned developments have all affected consumers’ ability to obtain credit easily and pay their invoices in a timely and efficient manner. In conclu - sion, new trends, ideas and service combinations in banking and non-banking financial services point to a very positive outlook for the development of fintechs in Egypt in the coming years.
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