Yasmine:

Another important point is that all transactions are roofed by NTRA, Operators, and protected by banks and Central bank of Egypt. In addition, a PIN is required for every single transaction, so it has the approval of the mobile money account holder. To cover this trend of Mobile Money in Egypt from all aspects, we need to know some key figures. 
A report has been issued by The National Telecom Regulatory Authority (NTRA) on the indicators of mobile wallet usage in Egypt during the first half of 2021 -from January to June- as NTRA seeks to promote and raise awareness of e-payment methods. We have a total of 10.2 million Cash withdraw transactions VS 4.4 million in 2020.
As for the deposits, they were higher than 2020 by 109% and reached 13.8 million transactions. The service was also used by different age groups, the largest of which was the 26-45 group. According to the report, the total number of mobile wallets in Egypt reached 16.3 million.
The top three services using mobile wallets were:
1)money transfer,
2)cash deposit and withdrawal
3)only with balance recharge (mobile phone and Internet) we reached a total of 16.4 million transactions

35.2 million transfers transactions completed from one electronic wallet to another. According to the report, 81 million e-transactions were conducted through e-wallets Versus 29.5 in H1 2020. This is an increase of 175%, even though Mobile money is relatively new in the Egyptian market, however it shows a healthy grow as the technology continues to improve. New capabilities and features will be added such as gamification elements.
So we can say that mobile money is creating a better future ! 

Yasmine:
Now I will give the webinar over to my colleague Marietta who is going to interview Miss Hend Elaraby from Telecom Egypt. As always it’s also important to look at the service provider’s point of view.
Marietta: 
 Thank you Yasmine for these great insights! I will get back to you after the interview.
Marietta: 
It’s time to talk, to our special guest: Hend El Araby. Hend has over 20 years of experience in the Telecom industry, with deep knowledge of the B2B & B2C sector. Delivering excellent Digital services to the end users of TELECOM Egypt, where she held several positions from Product Development, to Customer Loyalty & Retention and currently she is the Head of Mobile Money, already for 3 years. Hend holds a Master degree in Business Administration. And, if you think that’s enough, she is currently on her way to get her title as Doctor of Business Administration.
Definitely someone who we would like to learn more from and get her view on the future of Mobile Money. Hi Hend, thank you so much for being here with us today.

Mrs. Hend:
Hi Marietta thank you it’s my pleasure to be with you today.

Marietta:
Great Hend! Let me start with the first question:

1. What do you think is the future of the fintech services in Egypt precisely Mobile Money?
Apparently, finTech has recently become a promising industry in Egypt. In line with the country’s National Vision for 2030, The Egyptian government has issued new regulations to help the fintech sector to grow, & make the usage of fintech easier and more appealing to all people. Due to these continuous evolutions, people will become dependable on e-wallets in their daily transactions and we think that people will maximize their usage of digital payment technology and e-wallets in the future due to its convenience, speed, privacy and security.

2. Great that the Egyptian government is focusing on the Fintech evolution and supporting it. Do you think mobile money replace the cash?
With the rise of contactless payments, bank cards debit, credit or prepaid and mobile apps, cash will be soon a thing of the past. Mobile money will replace cash transactions gradually in the near future due to its advantages like
Making Fast transactions.
No more waiting in queue.
No need to carry pile of cash.
Convenient, Reliable and secure.

3. Perfect! So Hend, because you’re working at WE. Let’s dive in on your product WE pay (your cash wallet). What are your plans for WE PAY?
We are adopting an expansionary vision that aims to support digital payment services that witness a boom in performance nowadays. WE has short and long-term plans to develop electronic transactions, automate payments. WE intends to support the growth in the use of WE Pay during the last period through Increasing payments by availing more than 100 billers to the e-wallet. Also, We’re preparing to launch new services like NFC, interoperable AvL & in the near Future  micro savings & Loans. 

4. That are some great new initiatives! So what is your target segment?
Actually, we are targeting all WE mobile customers across all segments not only youth who are more familiar with technology & easy to adapt with. As we are always sharing in governmental initiatives that support financial inclusion like disbursing of irregular employment grants during Covid-19 pandemic, & will launch soon pension disbursements on WE Pay. 

5. It seems that the pandemic has a positive outcome on WE PAY – that’s REALLY nice. However you definitely facing some challenges. Can you elaborate a bit more on the challenges? 
One of the most important challenges we face is people culture who depend more on cash & consider it more trusted. Also, less digital awareness & difficulties in using technology are the main obstacles for a lot of people to use digital payments, unfortunately.

Marietta:
Thanks for your time and sharing your insights. Thank you Hend.
Mrs. Hend:
Thank you for having me here with you, it was a pleasure sharing with you all these insights. Have a great day.

Marietta: 
We are already coming towards the last part of the Webinar! A very interesting part about: How VELTI can help the adoption of Mobile Money and FinTech in Egypt with our great Gamification solution.
Yasmine:
I believe Velti has the solution needed to answer all mobile money operator challenges.
Marietta: 
I can’t wait to hear more Yasmine!
Yasmine:
Velti will take a deep dive into the future of mobile money, and how our gamification solution elements could yield positive results, in which revenue will be driven from giving value to users. Gamification is a unique way to manage money & add some fun.

Today we are going to talk about our gamification solution and how we could apply some of game mechanic principals to move money efficiently in a new type of fintech and new payment economy. Let’s first distinguish between Games and Gamification . Games exist to entertain. For example, by playing Fortnite game, I may receive some secondary benefits like improved some skills, but the only real function is entertainment. It’s fun! On the other hand, gamification exists to engage and motivate. Simply, gamification is the usage of game mechanics in non-game contexts.
Through our fully gamified program powered by Velti platform tailored to engage subscribers towards building a strong habit for using eWallet instead of other touch points.
Actually, this is a learner-centered mindset. In order for gamification to be successful, we must find the intersection between the user goals and the business goals. The key pillars needed to growth your fintech products are: It has to engage your users, reward them, user needs to achieve something, feel motivated, learn, and to be challenged. Velti Platform is an ecosystem, starting from the Operator’s addressable base to communicate with the users via different channel methods, to engage them through our gamification engine and finally to reward them. It’s all about our expertise.

Gamification can be useful in some contexts and in others not so much. It has to be designed carefully to make sure it suits your business goals. So, we usually start with the program business objectives:

1. Do you want to increase your app download
2. Improve your customer experience
3. Increase brand/product awareness

Do you want to know your customer more Or do you want to increase the app usage penetration ? Or finally would you like to increase your App rating? Our gamification solution can be a wonderful method to meet your business goal. After setting our goals we need to know the tactics… Here comes our extensive library of missions “main missions + bonus missions”. To guide your user: you could use video or text tutorial. To motivate them to use the app, you may use missions like send money or pay the bill now. To go viral, ask them to share on social media and if you would like to know your customer just use surveys.

When it comes to games we generally like different types of video games and this is exactly the same with gamification. Some of us prefer games with funny elements, some of us like brain competition others like exploring fantasy worlds, and others like surprise games. Some of us who don’t even like video games, would prefer the lucky element.

Therefore, one size doesn’t fit all and this is really important to consider when it comes to designing effective gamification you need to think about who your player is and what kind of games they like to play. That’s why we have an extensive library of games. Brain games to Educate customers on different products & services like find the patter or guess the word. Lucky game to Reward mechanisms, appeal to motivation like spin the wheel or drop the ball. Funny games to Increase engagement & returns to the program; collect behavioral data such us Odd object game or Movie quiz game. And, finally, and the most interesting part is the surprise games to mainly increase emotional connection between customer and brand. Shake your phone, daily bonus…

Marietta:
Wow, Yasmine, all these sound really interesting. Can you show us in detail one or two examples of the customer journey?

Yasmine:
Sure, let’s learn more about the user journey of a non e-wallet user. After defining the business objective which is  “increasing the App downloads”, we will tailor our content to each segment “in this case we will target the non app users” starting from the communication method with personalized SMS, script, timing and language. So, here, for example, Karim will receive a greeting SMS with a define call to Action and clear reward in return.

Customer will visit the app store in order to download the app and logs in. “Login mission” drives customer to take a quick tour on app capabilities. Customer takes a quick tour on app capabilities  to increase customer awareness about the ewallet. “Thank you message” and reward details. Upon accomplishing the mission customer gets entries for the monthly draw to engage him with the program

As conclusion, we have reached our main objective which is to increase the app download, in addition to secondary goals, “awareness + engagement”. Again we will start with the business objective: which is increase the usage penetration for app users but not active. Now the communication channel is different, we will use the in app notification Invite the user to { experience and win} campaign again with a clear call to action and exact reward. Upon Clicking on the push notification users is redirected to the reward and the needed Mission. The mission now is to send money. When the transaction is accomplished, Customer will be invited to play a game “guess the word”. Customer gets rewarded after guessing the word. We have again successfully reach our goal by reactivating this silent user and engaging her with a new Entertainment element which is the game.

The gamification rewards also is tailored per segment with an engagement mechanism of “Win every time… you recharge your phone credit or do a specific mission”

Or “save for a higher prize”. Prize could be daily or monthly, small prize or grand prize.

After going through all gamification elements we need to see the results on our business with velti’s gamification program. Increase by 16% monthly active users, increase in transaction by 32%, engagement up to 25%.

The nice thing about gamification is that because it deals with motivation it’s applicable to many different fields.

Marietta:
Yasmine, we would like to thank you for being here with us today.

Yasmine:
Thank you too Marietta.

Marietta:
Greetings to everyone in Athens. Have a nice day!

..and with this, our webinar already comes to an end:

As you can see, Mobile Money, Digital wallets is a huge trend, and not only in Egypt but also in Africa – it’s increasing RAPIDLY, driven by the ongoing wave of innovation and rising customer demand. I hope you enjoyed learning about the Mobile Money trend in Egypt, and hearing more from our experts in this topic, my colleague Yasmine as well as Hend from WE. For the latest news, more interesting webinars and blog posts please subscribe to our LinkedIn channel or YouTube, IG of FB, or visit our website at Velti.com. See you on our next webinar!

For now, have a great day and as we say in Arabic, Masalamah, good bye!