Cairo – Mubasher: Leading fintech company Network International has announced the enablement of Apple Pay acceptance by powering card tokenization for Apple smartphones for four renowned Egyptian banks.

This step comes as part of Egypt’s digital transformation initiatives, according to a press release.

Being an important milestone for Egypt’s digital payment ecosystem, the launch comes within the third wave of the Central Bank of Egypt’s (CBE) granting of tokenization licenses to select banks.

Meanwhile, the CBE’s initiative reinforces Network’s scale, innovation leadership and proven execution capabilities in the local market.

Reda Helal, Group Managing Director – Processing, Africa & Co-Head Group Processing at Network International, said: “We have been present in the market for over 20 years and delivering multiple simultaneous implementations demonstrates our local teams’ expertise and the robustness of our processing platform.”

Helal added: “We are grateful to the Central Bank of Egypt and the participating banks for their trust and partnership as we continue to help accelerate secure and scalable digital payments across Egypt.”

Moreover, the launch of domestic card tokenization supports Network’s broader focus on expanding its presence and strengthening its brand across the region. This is underpinned by the company’s long-standing commitment to the payments ecosystem in Egypt.

In 2023, Network International announced the investment valued at EGP 1 billion to expand its operations in Egypt while serving over 160 banks across Africa and more than 65 in the Middle East from its Egypt hub.

Meanwhile in 2024, the company obtained a Major Payment Institution (Major PI) license from the Saudi Central Bank (SAMA) to expand its presence in the Kingdom while endorsing the merchant acquiring business in the local market.