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Egypt’s central bank approves contactless payments through mobile phones

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CAIRO, Sept 26 (Reuters) – Egypt’s central bank has accredited the granting of licences to permit retailers to just accept contactless payments from their prospects’ mobile phones, it mentioned on Sunday.

It didn’t say how quickly the brand new system can be in place or who can be eligible to obtain the licences.

New laws and regulatory adjustments in Egypt, the Arab world’s most populous nation, are serving to to unleash a surge in new fintech investments and alter the way in which the nation’s largely unbanked residents do enterprise. learn extra

Reporting by Patrick Werr
Editing by Raissa Kasolowsky

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