Central Bank of Egypt Launches Contactless Soft POS Payments via Smart Devices

The Central Bank of Egypt (CBE) has announced the official launch of a contactless electronic payment acceptance service through smart devices (mobile phones and tablets) using Soft POS applications, as part of its strategy to transition toward a less cash-dependent society, enhance financial inclusion, and support Egypt Vision 2030.

The new service enables smart devices to be transformed into electronic payment acceptance points, allowing merchants to accept contactless card payments in their various forms. Merchants can simply download a certified Soft POS application on their smart device, with customers entering their card PIN directly on the device screen in a secure, internationally approved manner.

Commenting on the launch, Hassan Abdalla, Governor of the Central Bank of Egypt, stated:

“This new service comes as part of the Central Bank of Egypt’s ongoing efforts to prepare the infrastructure needed to expand electronic payment systems and facilitate financial transactions for citizens and merchants, supporting financial inclusion and enhancing access to electronic financial services anytime and anywhere.”

The service significantly reduces costs for payment service providers, companies, and merchants by eliminating the need to purchase and maintain traditional POS terminals. It also supports the integration of new segments of small businesses into the electronic payment acceptance ecosystem, while enhancing customer experience through faster, safer, and more flexible payment options.

It is worth noting that the CBE had previously piloted the service in recent years with transaction limits set at EGP 600. The latest update and official rollout come as part of the Central Bank’s continued efforts to modernize payment services and strengthen digital financial infrastructure, in line with global developments in electronic payments, while offering merchants and payment providers low-cost, flexible acceptance solutions via smart devices.