Visa to roll out tokenization services in Egyptian market in 2024

Updated 12/5/2023 9:01:00 AM
Visa to roll out tokenization services in Egyptian market in 2024

Arab Finance: Visa Egypt is currently coordinating with the Central Bank of Egypt (CBE) and other parties to complete the final technical phase for the launch of tokenization services in Egypt in 2024, Al Borsa reported, citing the firm’s Country Manager Malak El Baba.

El Baba noted that tokenization services could be used at the available points of sale (POS) and there is no need to distribute new machines in the market.

Tokenization is the replacement of traditional payment account information on plastic cards with digital account numbers or tokens used via mobile devices.

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