Egypt's central bank advances digital payments with tokenisation and Apple Pay integration

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Egypt's central bank advances digital payments with tokenisation and Apple Pay integration

//business-finance.news-articles.net/content/202 .. with-tokenisation-and-apple-pay-integration.html

Published in Business and Finance on Friday, December 13th 2024 at 3:41 GMT by Arabian Business

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
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The Central Bank of Egypt (CBE) is actively promoting digital payment solutions by integrating tokenization and Apple Pay into its financial ecosystem. This initiative aims to enhance the security and efficiency of transactions, reduce fraud, and foster financial inclusion. Tokenization replaces sensitive payment card information with a unique digital identifier, or token, which significantly lowers the risk of data breaches. Additionally, the introduction of Apple Pay allows Egyptian consumers to make contactless payments using their Apple devices, aligning with global trends towards digital and mobile payments. These steps are part of a broader strategy to modernize Egypt's payment infrastructure, encourage electronic transactions, and move towards a cashless society, thereby supporting economic growth and improving the overall payment experience for users.

Read the Full Arabian Business Article at:
[ https://www.arabianbusiness.com/industries/banking-finance/egypts-central-bank-advances-digital-payments-with-tokenisation-and-apple-pay-integration ]