The Central Bank of Egypt (CBE) has announced plans to implement card tokenisation in 2025, marking a significant milestone in enhancing the security of the nation’s digital payment systems. Tokenisation replaces sensitive card details with unique digital identifiers, protecting consumer data and reducing the risk of fraud during online transactions.
This initiative comes as digital transactions in Egypt surge, expected to surpass EGP 22 trillion by the end of 2024, compared to EGP 7 trillion in 2021. By adopting tokenisation, the CBE aims to bolster trust in digital payments, a cornerstone of the country’s growing fintech ecosystem.
Egypt’s move aligns with global trends, as major card networks like Mastercard are committing to tokenisation for all online transactions by 2030. Regionally, African nations are also advancing digital security; for instance, Nigeria introduced the AfriGo card scheme in 2023 to promote financial inclusion and reduce reliance on international networks.
By adopting tokenisation, Egypt is not only prioritising security but also encouraging greater consumer confidence in digital payments. This effort supports broader financial inclusion goals, ensuring secure and accessible payment options for a wider population. As Egypt leads the way, it sets a benchmark for other African nations to follow in modernising and safeguarding financial infrastructures.
