After the devaluation of the Egyptian pound and the severe shortage of foreign currency, demand for debit cards increased; used as a way to abuse the maximum withdrawal allowances for foreign currency. Monitoring and fraud teams at several banks noticed the excessive use of debit cards for cash withdrawal in foreign currencies. This resulted in the depletion of foreign currency reserves at banks, and swiftly led to tighter controls on the limits of foreign currency withdrawal using debit cards.
Euromonitor International's Debit Transactions in Egypt report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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