Central bank enables rollout of contactless mobile payments in Egypt

The Central Bank of Egypt (CBE) has issued regulations governing payment card tokenization on mobile apps that enable banks and payment service providers to allow customers to make contactless payments with digital cards stored in mobile wallets including Apple Pay, Google Pay and Samsung Pay.

The regulations set out the responsibilities and obligations of banks, card issuers, card networks and token service providers with regard to the provision and management of tokenized card payments from mobile devices, confidentiality, infrastructure, security and security assessment.

The CBE introduced measures to promote cashless and contactless payments in March 2020.