Mastercard brings Apple Pay to Egypt in partnership with CBE and EBC

This development offers a secure, private, and convenient payment method for users across in-store, in-app, and online transactions.

To make in-store payments, customers can double-click the side button on their iPhone or Apple Watch and hold the device near a payment terminal. Each transaction is authenticated with Face ID, Touch ID, or a device passcode, along with a dynamic security code. Apple Pay is accepted at a wide range of locations, including grocery stores, pharmacies, restaurants, coffee shops, taxis, and retail outlets.

Apple Pay can also be used on iPhone, iPad, and Mac to simplify purchases in apps and on merchant websites, eliminating the need to enter account or payment details repeatedly. This makes it easier to pay for services such as food deliveries, online shopping, transportation, and parking.

Security and privacy are central to Apple Pay’s design. Card numbers are not stored on devices or Apple servers. Instead, a unique Device Account Number is assigned to each card, encrypted, and securely stored in the Secure Element, a certified chip designed to safeguard payment information.

Setting up Apple Pay is simple. Users can add credit or debit cards via the Wallet app on their iPhone, iPad, Apple Watch, or Mac. Once added, customers can begin using Apple Pay immediately, continuing to enjoy the benefits and rewards associated with their cards.

Currently, Apple Pay is available to cardholders from the National Bank of Egypt, Banque Misr, and Commercial International Bank.

Improving financial inclusion with digital payments

The introduction of Apple Pay in Egypt is poised to improve financial inclusion by providing easier access to digital payment methods for a wider demographic, including those in underserved areas. With the widespread adoption of smartphones, Apple Pay offers a convenient, secure alternative to traditional banking methods. By enabling users to make contactless payments using their iPhone or Apple Watch, Apple Pay eliminates the need for physical bank accounts or credit cards, making digital payments more accessible. This aligns with Egypt’s Vision 2030, which aims to reduce cash dependency and promote a more inclusive financial ecosystem.