Top 11 Payment Gateways in Egypt that You Need to Know

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Anta Pattabiraman

Published 

April 19, 2022

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Recent studies infer an 89% rise in Egypt's digital payment system use in 2022, while Egypt's internet penetration stands at 35.6%. With a large section of the country's 90 million-strong population being less than 30 years of age, the government provides one of the world's largest eCommerce demographics. 

The government encourages schools, banks, hospitals, and retail stores to subscribe to digital transaction services with the intent to normalize mobile money. 

Current Payment Solution Landscape in Egypt

The COVID 19 pandemic has been a significant motivator, leading users to rely on emerging FinTech solutions like digital banking and wallets. 

In totality, there are three primary incentives for users who back this sentiment:

  • The benefit of physical distancing (pre and post-COVID)
  • Payment flexibility 
  • Ease of digital book-keeping

Egypt intends to use this evolving FinTech revolution to recreate the success of the 'Takaful and Karama' social program so that a digitally secure and equitable digital payment ecosystem elevates Egypt as a successful economic model. 

Egypt presents a staggering $5,400,000,000 in online shopping market value, with a $479.42 average annual online spend. Moreover, a sound regulatory environment promises a 12% yearly market growth to allow several electronic payment gateway systems to increase rapidly. 

Criteria to Look Out For Payment Gateways in Egypt

Payment gateway providers offer customers a combination of a convenient UX, usage offers, and other incentives and perks. However, there are different criteria beyond these factors to help you ratify the best payment gateways in Egypt. 

1. Reliability

Digital payment gateways are responsible for conducting data transactions that contain highly confidential payment information and business information. Therefore, a payment gateway must pass the reliability test by offering users a secure digital payment system. 

2. Supported currencies

A multi-currency payment gateway helps businesses and customers conduct international commercial transactions seamlessly. 

3. Payment options

Companies cater to a variety of customers across varied geography. As a result, customers can facilitate a smooth payment process in their native currency without additional conversion charges. 

Multiple payment options allow the customers to pay in flexible and novel ways via digital transactions. API integrations, widgets, and hosted secure payment pages give businesses different conversion methods as users want more convenient eCommerce/mCommerce options.

4. Market integrations

Digital payment gateways offer optimised market integrations to optimise the onboarding process. As a result, users have to traverse a more condensed transaction flow during the checkout process. It also cuts down the development expenses for applications wishing to integrate a digital payment gateway.

5. Security 

Security is essential in any digital financial transaction, especially in Egypt. However, with the proliferation of viruses such as ClipBanker, only 28% of the present user ecosystem confessed faith in digital financial systems. 

6. Pricing and other fees

Payment gateway systems should be transparent with service charges and tariffs to gain consumers' trust. Users must always search for services that offer competitive onboarding and service charges based on currency and payment method.

11 best payment gateways in Egypt

11 best payment gateways in Egypt

1) 2Checkout/Verifone

2Checkout is a monetization platform that helps your business expand into domestic and international markets. 2Checkout's modular gateway design and availability across 180 countries help eCommerce businesses offer global tax and financial regulations compliant services. There are consistent transaction fees worldwide, while a 2% fee is levied on accepting payments from customers outside a business user/eCommerce provider's country. 

Setup fee

Non-enterprises users can sign-up for free, while small businesses selling digital products or services via subscription models can also benefit from this factor. 

Custom pricing plans are available for enterprise businesses that want scalable payment gateway services.

Transactional fee

  1. For non-enterprise businesses
  1. Global eCommerce- 3.5% + $0.35
  2. Subscription-based services- 4.5% + $0.45
  3. Global digital goods eCommerce- 6.0% + $0.60
  4. Custom fees are levied based on sales volume for enterprise businesses

Annual fee

None

Accepted payment methods

The platform supports around 45 different payment methods, ranging from boilerplate debit/credit cards and PayPal to regional payment methods, online wallets, and payment methods local to other countries. 

Supported currencies

200+ country-native currencies, including EGP, CAD, DOP, EUR, MXN, and USD.

Approvals and onboarding time

Seven business days

eCommerce platform integration

Ready! E-Commerce, wooCommerce, Shopify, and many more.

2) Paymob

Paymob is a digital payment facilitation software operative in the Middle East and Africa. The payment gateway creates a seamless user transaction experience across diverse eCommerce operations. Paymob caters to businesses for POS systems, digital wallets, mobile-synchronised cashless, and mass payout systems. 

Setup fee

Free

Transactional fee

The annual fee is 2.75%+3 EGP for local sales, startups, SMBs, and SMEs. Meanwhile, all enterprises and international sales charges are available on inquiry only.

Annual fee

None

Accepted payment methods

Paymob accepts all major credit and debit cards, mobile wallets, COD, loyalty points redemptions, instalments, and kiosk payments. 

Supported currencies

EGP, USD, and various native currencies of all major countries. 

Approvals and onboarding time

Instant approvals and onboarding

eCommerce platform integration

The platform recommends Shopify but integrates with just about any eCommerce CMS solution.

3) Payfort/Amazon Payment Services

Payfort is a digital payment system acquired by Amazon Payment Systems. APS's services are available in eight Middle Eastern countries, including Egypt. 

Setup fee

1200 EGP

Transactional fee

For transactions less than EGP 600,000, users pay 2.75% + EGP 2.5. There is a management fee of an additional 650 EGP. Various instalment payment options are available to customers wherein they have to pay EGP 5 per transaction. 

On the contrary, lending payments from customers cost 1.5% + EGP 2.5/transaction. There are customised plans for transactions above EGP 600,000, available upon request.

Annual fee

None

Accepted payment methods

There are 18 leading currencies, including eight different Middle-Eastern currencies.

Supported currencies

EGP, USD, and various native currencies of all major countries. 

Approvals and onboarding time

Immediate onboarding within an hour of registration

eCommerce platform integration

APS connects with all leading eCommerce platform integrations

4) Paymentwall

Paymentwall touts itself as an all-in-one payment solution for ambitious merchants, as it renders a digital payment solution for all. 

Setup fee

Free for users

Annual fee

USD 1200

Transactional fee

Eu Cards - 2.1% + €0.25

Non Eu Cards - 3.9% + $0.30

1% Cross border

Accepted payment methods

eWallets, mobile and land-line payments, payment kiosks, prepaid cards, debit cards, bank transfers, payment kiosks, and more.

Supported currencies

The platform supports 150 currencies, catering to its current list of serviced countries. 

Approvals and onboarding time

The onboarding process is spread over three days. 

eCommerce platform integration

Shopify, WooCommerce, Magento, and other leading eCommerce platforms can be integrated with the platform.

5) PayPal

PayPal needs little introduction, as it has served as the default digital payment gateway for numerous eCommerce services and individual customers for over a decade. 

PayPal is one of the few payment gateway services known across the globe as it provides transactions in every imaginable currency with competitive transaction fees. 

Setup fee

Free

Transactional fee

  • 2.9% + $0.30 for domestic transactions
  • 4.4% + a fixed fee depending on the location of the business user

Annual fee

None

Accepted payment methods

eWallets, mobile, debit/credit cards, COD, and every other commonly accept payments system 

Supported currencies

EGP, AUD, CAD, CZK, EUR, and other native currencies

Approvals and onboarding time

Immediate, following a one-time flow

eCommerce platform integration

PrestaShop, Shopify, Etsy, WooCommerce, OpenCart, Magento, BigCommerce, and CS-Cart, among other leading eCommerce services. 

6) Vapulus 

Vapulus is another unique service that uses machine learning and data science to optimise user transactions. In addition, it supports favoured payment gateways and offers lower network fees, each of which is customised to meet business needs. 

Setup fee

Free

Annual fee

None

Transactional fee

Free

Accepted payment methods

The platform accepts credit cards, debit cards, and e-cheques.

Supported currencies

Globally supports and accepts all currencies.

Approvals and onboarding time

Immediate onboarding and verification

eCommerce platform integration

Offers integrations for Squarespace, Shopify, Selz, and WooCommerce

7) Fawry Pay

Fawry Pay is a novel payment gateway solution that supports online, in-app payments, payment terminals, and POS terminals for Egyptian services. 

It supports 105,000 merchant locations across Egypt and offers digital payment processing services. 

Setup fee

A free trial followed by a charge of 999 EGP

Transactional fee

2.75% transaction fee + 3.00 EGP processing fee for all transactions

Annual fee

None

Accepted payment methods

The platform accepts cash, credit/debit, and other online mobile banking solutions like FawryPay, OneCard, etc. 

Supported currencies

Globally supports and accepts all currencies.

Approvals and onboarding time

Immediate onboarding and verification

eCommerce platform integration

eOffers integrations for Shopify, WooCommerce, and other common platforms. 

8) Pay Tabs

Pay Tabs provides an award-winning patent gateway service, a one-stop solution for eCom services, startups, web-only stores, and enterprise businesses. 

Setup fee

Free to setup

Transactional fee

2.85% + $0.27 per transaction for trades below $2000

Custom enterprise plan fee for sales with monthly volume > $50000

Annual fee

$49.99 per month for trades above $2000

Accepted payment methods

American Express, MasterCard, Visa, Mada, STC Pay, OmanNet, and more

Supported currencies

AED, USD, EUR, GBP, OMR, KWD, EGP, USD, EUR, GBP

Approvals and onboarding time

Immediate onboarding and verification

eCommerce platform integration

Shopify, WooCommerce, Magento, PrestaShop, CS.Cart, OpenCart, Drupal Commerce, Zvenda, and more

9) Tap

Tap is a Kuwait-based payment gateway service that has revolutionized digital transactions in the Middle East. Currently, it supports over 1000 businesses, including MNCs. 

Setup fee

Free to setup

Transactional fee

Free

Annual fee

Free

Accepted payment methods

KNET, Visa, & MasterCard, and other standard methods

Supported currencies

EUR, GBP, KWD, OMR, QAR, SAR, USD, AED, BHD, EGP

Approvals and onboarding time

1.28 minutes 

eCommerce platform integration

WordPress, OpenCart, PrestaShop, Magento, and Shopify

10) Myfatoorah

MyFatoorah is a payment solution that offers a digital transaction gateway for Middle Eastern nations. 

It serves as an invoicing solution, POS payment solution, GCC cards solution, KIF solution, and DHL logistics solution. 

Setup fee

Free to setup

Transactional fee

2% for Kent payments 

3.5% for credit cards

Annual fee

None

Accepted payment methods

KNET, VISA/MasterCard, American express, Sadad, Benefit, MASA, Debit Cards UAE, NAPS Qatar, Apple Pay, VISA/Mastercard Saudi, VISA/Master MADA, VISA/Master Qatar

Supported currencies

KD, KWD SAR; BD, BHD, and AED.

Approvals and onboarding time

Immediate onboarding and verification

eCommerce platform integration

Direct Payment API and website/app gateway integration with any eCommerce CMS framework use script languages like .Net, PHP, and Java. 

11) Paysky

Paysky is a unified payment gateway solution specifically targeted at banks and FinTechs. It helps financial institutions build custom user experiences for individual digital financial services. 

Setup fee

One time fee of $50 

Annual fee

The platform's pay-per-feature model is apt for OMNI gateways, invoice clouds, PayBox for mini-POS systems, Smart Box for mobile POS, Pay Code for QR, and Virtual POS.  

Accepted payment methods

ACH, Debit/Credit Card, Electronic Signature, In-Person, Mobile, Online Payments Point of Sale (POS), Recurring/Subscription Billing, Reporting/Analytics

Supported currencies

Multi-currency payment 

Approvals and onboarding time

Immediate onboarding and verification

eCommerce platform integration

WooCommerce recommended

Local payment gateways and the rising complexities for businesses

The Egyptian government supports financial inclusivity and equity by waiving fees and increasing e-wallet limits to promote non-traditional and decentralized transactions. They have passed favourable regulations mandating electronic payments above EGP100,000 ($5,611.67) and levying a 10% penalty on the payment value for failure. Many businesses are in disarray about choosing an exemplary payment gateway service. As a result, they resort to multiple payment gateway solutions that prove more challenging on the management and budget to enhance customer conversions.

How inai helps you address multiple payment gateway integrations in Egypt?

Service providers can take advantage of these favorable market conditions for eCommerce in Egypt with inai. inai lets you facilitate one-click digital payment gateway integration with no-code setup and a secure checkout process.

We guarantee a 12% update in conversions as your customers enjoy seamless digital transactions across all payment systems. In addition, with a rapid onboarding and no-tech payment setup, you can immediately give your customers a lightning-fast payout experience.

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About the author
Anta Pattabiraman is the co-founder and CEO of Inai, a global payment stack simplifying native payments within a single integration. Over the last 5 years, he has worked with 200+ businesses ranging from SMEs to Bigtechs.
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