CAIRO - 8 March 2023: The Central Bank of Egypt (CBE) has endorsed regulations to govern coding services during contactless payment through smartphone applications.
The new regulations are part of preemptive efforts by the CBE meant to enhance digital development in Egypt.
The coding system allows users to register their cards through the smartphone applications to be able to easily and safely use them to complete any future e-payment process, the CBE said in a press release Wednesday.
It is considered yet another step toward a cashless community and in line with a strategy designed by the National Council for Payments for the Egyptian economy to go digital.
The regulations allow for activating services of many international corporates – such as Apply Pay and Samsung Pay – as well as financial technology firms.
Comments
Leave a Comment