Central: 233 billion pounds, the value of mobile phone wallet transactions in 2021

10:35 AM

Wednesday 05 January 2022

I wrote – Manal Al-Masry:

Ihab Nasr, Assistant Undersecretary of the Central Bank Governor in the Banking Operations and Payment Systems Sector, said that the value of transactions made through mobile wallets during 2021 amounted to 233 billion pounds, with a growth rate of more than 160 percent compared to 2020.

He added in a statement from the Central Bank today, Wednesday, that the mobile phone wallet service witnessed a great development, both in terms of the diversity of services provided or rates of use, as the number of its accounts increased to 25 million electronic wallets, achieving a growth of 27% during the current year compared to 2020.

He stated that these wallets executed about 227 million transactions during 2021, with a growth rate of close to 100% compared to the previous year.

In its statement today, the Central Bank announced the launch of the electronic portal for managing mobile phone wallet accounts, in cooperation with the National Telecommunications Regulatory Authority.

The bank said that the citizen can, through this portal, inquire about any electronic wallet registered with his mobile phone number, as well as unsubscribe from the wallet for free and without the need to visit the branch in preparation for changing the service provider.


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