Egypt’s 2025 Digital Payment Revolution: Card Tokenization for Security and Growth

Egypt is set to take a pivotal step towards digital payment security in 2025 as the Central Bank of Egypt (CBE) plans to launch card tokenization. The country is gradually positioning itself as a leader in financial innovation, as it sets to exceed EGP 22 trillion by the end of 2024 by the end of the year, which is a sharp rise from EGP 7 trillion in 2021. With these moves comes the heightened risk of fraud and security breaches posing challenges for consumers and businesses alike. For consumers, this innovation represents more than a technical upgrade; it holds a promise of safety, convenience, and trust in digital payments.

The Game changer for Secure Transaction 

The card tokenisation is set to replace traditional card details with unique digital tokens during transactions, streamlining payments while safeguarding sensitive data. The initiative aligns with global fintech trends, where companies like Mastercard are championing tokenisation as a tool for secure digital payments. The system of operation ensures that no external person can access actual card information during a transaction.

Paving the way for a Cashless and Inclusive Economy 

With the implementation of tokenisation, the central bank of Egypt is taking a decisive step to modernize the country’s financial landscape. The benefits extend beyond security. Tokenisation simplifies online checkouts and enables smoother card management, fostering trust in digital payment systems. By addressing the security concerns that deter many from embracing digital payments, this step promises to accelerate egypts transition towards a cashless society, benefiting consumers, businesses, and broader economy. As Tarek Raouf, CEO of Egyptian Banks Company, pointed out, this technology isn’t just about safety; it is creating a more inclusive and efficient financial ecosystem.