- The Central Bank of Egypt (CBE) will launch card tokenisation in 2025, strengthening payment security.
- Tokenisation will replace card details with unique digital identifiers, reducing fraud risk.
- This move aligns with regional and global trends in cybersecurity and fintech innovation.
With the CBE planning to implement card tokenisation by 2025, the country is taking a significant step to secure its digital payment ecosystem. This advanced cybersecurity measure replaces sensitive card details with unique digital tokens during online transactions, minimising fraud risks and safeguarding consumer data.
As digital transactions in Egypt continue to grow, projected to exceed EGP 22 trillion by the end of 2024 — up from EGP 7 trillion in 2021 — the need for robust security measures has become critical. Tokenisation ensures that card details are inaccessible to unauthorised entities, fostering trust in digital payment systems.
The CBE's move mirrors global fintech advancements. Major card networks like Mastercard have committed to tokenisation for all online transactions by 2030, reflecting a worldwide emphasis on reducing fraud.
Regionally, African nations are also prioritising digital payment security. For instance, Nigeria's Central Bank launched AfriGo in early 2023, a domestic card scheme to boost financial inclusion and reduce dependence on international card networks.
These initiatives highlight a shared commitment across Africa to modernise financial infrastructures and secure the burgeoning digital economy. Tokenisation represents a key pillar in ensuring the safety of electronic payments, which are increasingly becoming the backbone of commerce across the continent.
As Egypt and other African nations adopt these measures, they not only enhance security but also foster consumer trust, essential for driving further adoption of digital payment systems. This, in turn, supports financial inclusion goals by making secure, convenient payment options accessible to more people.
Tokenisation marks a significant milestone in Egypt's journey toward a safer, more inclusive digital financial ecosystem, setting an example for other countries in the region to follow.
