Cairo – The Central Bank of Egypt (CBE) has announced plans to launch card tokenization services on mobile applications running on Android devices, expanding the country’s digital payments infrastructure.
The move follows the earlier rollout of the service on Apple Pay, which marked the first phase of Egypt’s card tokenization initiative. According to the CBE, this next step represents a significant milestone in driving mobile-based digital financial transactions across the country.
The initiative is being carried out in collaboration with global payment networks Visa and Mastercard, Egypt’s national payment system Meeza, Apple, local banks, mobile app providers, and fintech firms. The CBE highlighted that the project will enhance integration between domestic and international payment systems, broaden the scope of digital payment services, and reinforce consumer trust in electronic transactions.
Recent figures underline Egypt’s rapid adoption of digital finance. As of December 2024, the number of Meeza national cards exceeded 41.5 million, while mobile wallet accounts rose to 50.4 million, processing 1.1 billion transactions worth a total of EGP 1.54 trillion during the second half of 2024.
Meanwhile, the CBE confirmed that upgrades to Egypt’s instant payments network, InstaPay, are underway, with new services set to be introduced in the near future.
