The Central Bank of Egypt (CBE) has officially launched a contactless electronic payment acceptance service that allows merchants to use smartphones and tablets as electronic points of sale (POS). The service utilizes Soft POS applications, enabling smart devices to function as payment terminals. Under the new system, merchants can accept payments from various contactless cards by downloading an application, with card PINs entered directly on the device through internationally accredited and secure protocols. By using mobile devices as terminals, the service eliminates purchase and maintenance costs associated with traditional POS hardware for payment service providers and merchants. The official rollout follows a pilot version of the service launched in previous years, which carried a transaction limit of EGP 600.

Source: Daily News Egypt February 01, 2026 12:55 UTC