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2021 Key Trends of the Payment Industry: Real-Time Payments in the Middle East and Africa

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  • 46 Pages
  • January 2021
  • Region: Africa, Middle East
  • yStats GmbH & Co. KG
  • ID: 5238554

Amid Covid-19, Governments in the Middle East and Africa are Rapidly Developing Infrastructures for Real-Time Payments, Says Report

The real-time payment systems of the Middle East region still have room for improvement

According to figures cited in this report, in general, the Middle East has been growing in terms of values and volumes of payments via the local Real-Time payment systems during 2020. Nevertheless, many of their solutions are still only near real-time, and some, like Israel’s Zahav, are not available 24/7. Nevertheless, the lockdown, in the first half of 2020 brought significant positive changes in the number and values of the near real-time transactions for some countries and the year-on-year growth rates went sharply up. That was true, for instance, for the UAE’s Immediate Payment (IP) system, which was launched in 2019. Another example is Egypt, which experienced unusually high numbers at the beginning of the lockdown, with the growth rates sharply decreasing towards the end of 2020.

During the health crisis, some Middle Easter and African countries saw a rapid surge in real-time payments, however, some still lag

Apart from South Africa, the manifested leader in the African payment industry, some other economies in the regions have been showing positive numbers in transfers via the Real-Time Gross Settlement systems. For example, in November 2020, Namibia surpassed South Africa in terms of value per transaction made through SADC, the regional cross-border RTGS for Southern African countries. Furthermore, Ghana’s real-time payment solution GhIPSS Instant Pay (GIP) experienced an almost six-fold rise in transaction volume year-on-year during the first half of 2020. Nigeria was yet another example of a considerable rate of real-time payments adoption as payment volume via the RTGS was about half of the total E-Payments between January and August 2020.

Table of Contents

1. Global
  • Main Drivers for Real-Time Payments Adoption, December 2020

2. UAE
  • Profile of Real-Time Payment Systems UAEFTS and IPI, January 2021
  • UAEFTS Transfer Values, by Source of Transfers, in AED billion, January 2020 - September 2020

3. Israel
  • Current News Payment System Zahav, January 2021

4.  Saudi Arabia
  • Riyal Interbank Express (SARIE) System Payments Value, in SAR billion, and Volume, in millions, December 2019 - November 2020

5. Jordan
  • Service Description of the Real-Time Payment System, January 2021

6. Oman
  • Current News about the Real-Time Payment System, January 2021

7. Eygpt
  • Payments in Real Time Gross Settlement (RTGS) System, Volume, Value, in EGP billion, Month-on-Month and Year-on-Year Value Growth Rate, in %, January 2020 - December 2020
  • Value of Payments in Real Time Gross Settlement (RTGS) System, in EGP billion, and Year-on-Year Change, in %,  2009 - 2020

8. Bahrain
  • Profile of the Near Real-Time Electronic Fund Transfer System (EFTS), January 2021
  • Payments in the Near Real Time Gross Settlement System, Volumes and Values, in BHD billion, by Source of Transactions, November 2019 & October 2020 & November 2020
  • Breakdown of Payments via EFTS, by Type of Services, November 2020

9. Southern Africa
  • Profile of SADC-RTGS System, January 2021
  • Payments via SADC-RTGS System, incl. Volume, Value, in ZAR billion, November 2019 - November 2020
  • Transactions via SADC-RTGS System, incl. Number of Participating Banks, Volumes and Values, in ZAR million, by Country, incl. Angola, Botswana, DRC, Estwani, and Lesoto, November 2020

10. South Africa
  • Transactions via Real Time Clearing (RTC) System, Volume, Value, in ZAR billion, December 2019 - November 2020

11. Nigeria
  • Industry E-Payment Volumes and Values, in NGN billion, by Transaction Channels, January 2020 - August 2020

12. Morocco
  • Transactions via SRBM System, Values and Volumes, in MAD billion, 2018 & 2019

13. Ghana
  • Profile of GhiPSS Instant Pay (GIP) System, January 2021
  • Transactions via GhiPSS Instant Pay (GIP) System, Volume, in thousand, and Value, in GHC million, October 2019, December 2019,  March 2020 - October 2020

14. Kenya
  • Transactions via the Kenya Electronic Payment and Settlement System (KEPSS) System, Volume, in thousand, and Values, in KES billion, November 2019 - October 2020

15. Namibia
  • Profile of NamPay Near-RTGS System, January 2021

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • BENEFIT payment
  • GhiPSS Instant Pay
  • JoPACC
  • NamClear
  • Riyal Interbank Express (SARIE)
  • Zahav