Mastercard, in collaboration with the Central Bank of Egypt
(CBE) and Egyptian Banks Company (EBC), has launched Apple Pay in Egypt,
offering a secure and private payment method for in-store, in-app, and online
transactions.

To use Apple Pay in stores, customers double-click the side
button and hold their iPhone or Apple Watch near a payment terminal. Each
transaction is authenticated using Face ID, Touch ID, or a passcode, along with
a unique security code.

Apple Pay Expands in Egypt

Apple Pay is now accepted in various locations, including
grocery stores, pharmacies, taxis, restaurants, and retail shops. Customers can
also use it on iPhone, iPad, and Mac for faster app and online purchases,
avoiding the need to enter card details or billing information repeatedly.

Apple Pay does not store actual credit or debit card numbers
on the device or Apple servers. Instead, a unique Device Account Number is
created, encrypted, and stored in the Secure Element, a certified chip designed
to protect payment information.

Mohamed Assem, Country Manager for Egypt, Iraq, and Lebanon,
Mastercard, stated: “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.”

Mastercard, in collaboration with the Central Bank of Egypt and Egyptian Banks Company, brings Apple Pay to users in Egypt, providing a safer, more secure and private way to pay in-store, in-app and online. Learn more: https://t.co/FREJno7xJN pic.twitter.com/pCRO76dVVS

— Mastercard Arabia (@MastercardMENA) December 12, 2024

Egyptian Banks Offer Mobile Payments

Users can add credit or debit cards through the Wallet app
on iPhone. After adding a card, they can start using Apple Pay immediately on
compatible devices.

Currently, Apple Pay in Egypt is supported by the National
Bank of Egypt, Banque Misr, and Commercial International Bank. For more
details, cardholders can visit the websites of these banks.

This article was written by Tareq Sikder at www.financemagnates.com.

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