2020-05-21

A circular dated May 21, 2020 regarding the Central Bank’s initiative for electronic payment

The Central Bank of Egypt is launching an initiative to promote electronic payment methods and reduce the use of cash transactions. The bank will finance the distribution of 1,000,000 new electronic point-of-sale (POS) terminals across all governorates in Egypt by the end of December 2020. The initiative includes incentives for banks to encourage the use of electronic payments and to train merchants on using POS terminals and QR codes for transactions.

Egypt

Central Bank of Egypt

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