Apple Pay debuts in Egypt with initial partnership with three banks

Apple Pay, Apple’s mobile payment and digital wallet service, has officially launched in Egypt, December 10, marking a major milestone in the nation’s digital payment evolution. Users can now make secure, contactless transactions through Apple devices such as iPhones, Apple Watches, iPads, and Macs.

The initial rollout includes partnerships with the National Bank of Egypt, Banque Misr, and the Commercial International Bank (CIB), which have activated card tokenization services to enable seamless transactions. Additional banks in Egypt are expected to follow suit in the coming weeks.

This launch was facilitated by the Central Bank of Egypt (CBE), which in February 2023 approved regulations for payment card tokenization on electronic devices. This move aligns with Egypt’s strategy to promote digital payments, reduce cash dependency, and transition to a digital economy. Other initiatives, such as mobile wallets and real-time payment networks, further support this transformation.

Apple Pay offers secure in-person, online, and in-app transactions using Face ID, Touch ID, or a device passcode for authentication, ensuring both privacy and convenience. As more banks adopt the service, it is expected to strengthen Egypt’s digital payment ecosystem and support broader financial inclusion and digital transformation efforts.

SOURCE: NORTHAFRICAPOST