Mastercard brings Apple Pay to Egypt with CBE and EBC

By Gloria Methri

Mastercard, in collaboration with the Central Bank of Egypt (CBE) and Egyptian Banks Company (EBC), brings Apple Pay to users in Egypt, providing a safer, more secure and private way to pay in-store, in-app and online.

To pay in-store, customers double-click the side button and hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is today accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places.

Customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or supporting merchant websites without having to create accounts or repeatedly type in card details, shipping and billing information. Apple Pay makes it easier to pay for food and grocery deliveries, online shopping, transportation, and parking, among other things.

Ehab Nasr, Assistant sub-governor at the Central Bank of Egypt, said, “With Apple Pay now available in Egypt, we are ushering in a new era of digital payments that aligns with our proactive efforts to promote digital transformation. This initiative is integral to our broader efforts to modernise the financial sector and foster a more inclusive, cashless economy.”

Mohamed Assem, Country Manager for Egypt, Iraq, and Lebanon, Mastercard, said, “We are excited to bring Apple Pay to cardholders in Egypt and further drive the adoption of digital payments in the country. Apple Pay empowers consumers with a safer, more convenient way to pay, whether in-store or online.”

Tarek Raouf, Executive Chairman and CEO of EBC, said, “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 eases the digital transactions but also contributes to the development of a broader digital payments ecosystem.”

Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device or Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device.

Apple Pay is easy to set up. On iPhone, open the Wallet app, tap+, and follow the steps to add credit or debit cards. Once a customer adds a card to the iPhone, Apple Watch, iPad, and Mac, they can start using Apple Pay on that device right away. Customers will continue to receive all of the rewards and benefits offered on all their cards.

For cardholders in Egypt, Apple Pay is available with the National Bank of Egypt, Banque Misr, and Commercial International Bank.