Apple Pay has launched in Egypt, following a collaboration between Mastercard, the Central Bank of Egypt (CBE) and the Egyptian Banks Company (EBC).
This service enables secure and private payments via Apple devices, such as iPhones, Apple Watches, iPads, and Macs, in various purchasing scenarios.
It employs biometric authentications like Face ID and Touch ID to enhance transaction security with a unique dynamic security code for each transaction. The feature is supported by leading Egyptian banks including the National Bank of Egypt, Banque Misr, and Commercial International Bank.
“With Apple Pay now available in Egypt, we are ushering in a new era of digital payments that aligns with our proactive efforts to promote digital transformation,” said Ehab Nasr, assistant sub-governor at the Central Bank of Egypt. “This initiative is integral to our broader efforts to modernize the financial sector and foster a more inclusive, cashless economy.”
Mohamed Assem, country manager for Egypt, Iraq and Lebanon, Mastercard, also added: “We are excited to bring Apple Pay to cardholders in Egypt and further drive the adoption of digital payments in the country. Apple pay empowers consumers with a safer, more convenient way to pay, whether in-store or online.”
While Tarek Raouf, executive chairman and CEO, EBC, commented: “The launch of Apple Pay in collaboration with Mastercard and the Central Bank of Egypt represents a major advancement in Egypt’s financial sector. This not only ease the digital transactions but also contributes to the development of a broader digital payments’ ecosystem.”
The post Apple Pay Launches in Egypt in Partnership with Mastercard and CBE appeared first on The Fintech Times.
