- Mastercard collaborates with the Central Bank of Egypt and Egyptian Banks Company to bring Apple Pay to Egypt.
- Apple Pay enhances secure, contactless payments for in-store, online, and in-app purchases.
What happened: Mastercard launches Apple Pay in Egypt to promote digital payments
Mastercard, in partnership with the Central Bank of Egypt (CBE) and Egyptian Banks Company (EBC), has introduced Apple Pay to customers in Egypt. This launch enables users to make secure, contactless payments in-store by simply using their iPhone or Apple Watch. The service also supports online and in-app purchases without the need to manually input card details, offering convenience for users shopping for groceries, transportation, and other services.
Apple Pay leverages advanced security measures such as Face ID, Touch ID, or device passcodes, alongside dynamic one-time security codes. With its introduction, Mastercard aims to modernise Egypt’s payment landscape, promoting financial inclusion and a cashless economy. Participating banks include the National Bank of Egypt, Banque Misr, and Commercial International Bank, making it accessible to a broad range of customers.
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Why it’s important
The launch of Apple Pay in Egypt marks a significant milestone in advancing digital payment adoption in the region. With security and convenience at its core, Apple Pay aligns with Egypt’s efforts to modernise its financial sector and foster a cashless economy. By partnering with Mastercard, the Central Bank of Egypt, and EBC, this initiative highlights a collaborative approach to enabling financial innovation and inclusion.
As digital payment systems gain traction globally, services like Apple Pay are vital for bridging the gap between traditional financial institutions and modern consumer expectations. For Egypt, this move is expected to enhance customer experiences, encourage digital transformation, and attract more global technology investments into the country. It also positions Egypt as a growing player in the rapidly expanding digital economy, setting the stage for further financial modernisation initiatives.
