Egypt's Explosive Growth: A Triple-Digit Surge in Real-Time Payments Expected by 2027

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Oct 19, 2023, 05:00 ET

DUBLIN, Oct. 19, 2023 /PRNewswire/ -- The "Global Digital Payment Forecasts 2023-2027" report has been added to ResearchAndMarkets.com's offering.

This provides valuable insights into the future trends of the global digital payment market. Among the key findings, the report reveals that real-time payments are experiencing a remarkable surge in popularity worldwide, with Egypt projected to exhibit one of the highest growth rates between 2022 and 2027.

Key Highlights:

Explosive Growth in Non-Cash Transactions: By 2026, the volume of non-cash transactions worldwide is expected to nearly double. The global online payments industry has been significantly influenced by the COVID-19 pandemic, resulting in substantial advancements. The adoption of cashless payments has accelerated dramatically and is expected to continue growing post-pandemic. Global cashless transactions are forecasted to grow at a Compound Annual Growth Rate (CAGR) of over 16% from 2023 to 2026, surpassing 2 trillion non-cash transactions.
Asia-Pacific Leading the Charge: Asia-Pacific is expected to contribute the highest value to the global cashless transactions market by 2026, followed closely by Europe and North America.
Real-Time Payments on the Rise: The use of digital payments is steadily increasing worldwide, with a growing number of individuals opting for cashless transactions. Consequently, real-time payments are gaining popularity globally. In 2022, the Middle East, Africa, and Southeast Asia region recorded the highest volume of real-time payments, approaching 100 billion transactions. Asia-Pacific and Latin America followed suit. These regions are projected to maintain their top positions, with Asia-Pacific surpassing the Middle East, Africa, and South Asia by 2027.
Egypt's Remarkable Growth: Egypt is poised to experience one of the highest real-time payment transaction volume growth rates, with a triple-digit Compound Annual Growth Rate (CAGR) anticipated between 2022 and 2027, reaching close to one billion transactions.
Real-Time Payments Dominance: The share of real-time payments in total electronic payments is currently and is expected to remain the highest in the Middle East, Africa, and South Asia, reaching almost 80% by 2027.

Countries Covered:

Argentina
Brazil
Canada
Chile
China
Colombia
Egypt
France
Germany
India
Indonesia
Italy
Japan
Mexico
Nigeria
Philippines
Russia
Saudi Arabia
Singapore
South Korea
UAE
United Kingdom
USA

Companies Mentioned

Alipay
Android Pay
Apple Pay
Paypal
Samsung Pay

Key Questions Answered:

What is the size of the global digital payments market in 2023 and how is it projected to grow through 2030?
How high is the non-cash transaction volume in different regions globally and how is it projected to change by 2026?
How many adults in China will use digital wallets daily in 2022?
By how much will the real-time payments volume grow by 2027 in different regions and countries worldwide?
How much will real-time payments make up of total electronic payments across the global regions by 2027?

Key Topics Covered:

1. Management Summary

2. Global Developments

Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2020 - 2025f
B2B Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2019 - 2025f
Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e

3. Asia-Pacific

4. Europe

5. North America

6. Latin America

7. Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/d058dn

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SOURCE Research and Markets