Mastercard brings Apple Pay to Egypt
Updated 12/12/2024 2:58:00 PM
Arab Finance: Mastercard has brought Apple Pay to its users in Egypt, in collaboration with the Central Bank of Egypt (CBE) and Egyptian Banks Company (EBC), as per an emailed press release.
Apple Pay delivers a safer, more secure, and private way to pay in-store, in-app, and online.
In-store payments via the app require customers to simply double-click the side button and hold their iPhone or Apple Watch near a payment terminal to make a contactless payment.
All purchases through the app are secure by being authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code.
Customers can use Apple Pay in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places on iPhone, iPad, and Mac.
“This initiative is integral to our broader efforts to modernize the financial sector and foster a more inclusive, cashless economy,” Ehab Nasr, Assistant sub-Governor at the Central Bank of Egypt, said.
Mohamed Assem, Country Manager for Egypt, Iraq, and Lebanon, Mastercard, commented: “We are excited to bring Apple Pay to cardholders in Egypt and further drive the adoption of digital payments in the country.”
Meanwhile, Tarek Raouf, Executive Chairman and CEO, EBC, remarked: “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.”
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