Apple Pay, which is going to be regulated like a bank in the US, is set to expand its presence in Africa with its launch in Egypt. This will make Egypt the third African nation to get the service, following South Africa and Morocco.
Initial rollout in Egypt includes partnerships with three major local banks: National Bank of Egypt, Banque Misr, and Commercial International Bank (CIB). Other banks in Egypt are expected to enable the service in the coming weeks.
The Central Bank of Egypt (CBE) approved regulations for payment card tokenization services in February 2023.
Apple Pay supports the country’s plan to develop its digital economy and reduce reliance on cash. Users will be able to make secure, contactless transactions using various Apple devices, including iPhones, Apple Watches, iPads, and Macs.
Apple Pay keeps things secure with Face ID, Touch ID, or your passcode. You can use it to pay in stores, online, or in apps—quick and easy.
More here.