Central Bank of Egypt Will Allow Contactless Payments With Mobile Apps

The Central Bank of Egypt has approved new rules allowing contactless payments to be made through mobile apps. This means that cashless services from many international companies, such as Apple Pay and Samsung Pay, as well as FinTech companies, will soon be available to use in Egypt.

The move is part of the National Payments Council's strategy to support the digital economy and a cashless society. The council will allow payment cards to be registered on smartphones for easy and secure transactions. The new system will also reduce the time and costs for banks, and open up opportunities for innovative financial solutions.