Egypt has hit a significant milestone in its digital transformation journey, with Network International enabling Apple Pay acceptance for four major banks.
The program, which was launched as part of the Central Bank of Egypt's third wave of tokenisation licences, highlights the rapid modernisation of North Africa's payment environment.
According to Network, the move demonstrates its capacity to rapidly execute large, multi-bank digital payment initiatives while adhering to stringent security, operational resilience, and service quality requirements.
Tokenisation enables clients to register payment cards on their smartphones, allowing for seamless contactless payments at POS terminals and online. This technique improves transaction efficiency while also increasing end user security.
While the individual banks in this current wave have not been named, prominent institutions such as the National Bank of Egypt, Banque Misr, and Commercial International Bank were among the first to offer Apple Pay services in Egypt.
Supporting all four bank go-lives in the same wave demonstrates the robustness, stability, and agility of Network's processing platform, as well as the breadth of its local delivery and implementation capabilities, the company said.
Furthermore, the launch aligns with Network's overall strategy of increasing its footprint and building its brand across the region, which is backed by a long-standing commitment to Egypt's payments landscape.
Dr Reda Helal, Group managing director of processing (Africa) and co-head of Group processing at Network International, commended the firm’s role in assisting financial institutions to transform as Egypt strengthens its digital economy.
“We have been present in the market for over 20 years, and delivering multiple simultaneous implementations demonstrates our local teams’ expertise and the robustness of our processing platform. We are grateful to CBE and the participating banks for their trust and partnership as we continue to help accelerate secure and scalable digital payments across Egypt.”
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