Regulatory Alerts2023-03-08 | CBE12.8Added · Updated
CBE Regulation Book 12.8 - The Rules Regulating Card Coding Services On Electronic Device Applications
The Central Bank of Egypt establishes the regulatory framework for card tokenization services on electronic device applications within Egypt to enhance security and financial inclusion. The regulation defines key entities including Token Service Providers (TSPs), Token Requestors, OEM Wallets, Host Card Emulation (HCE) Wallets, Issuer Banks, and Acquirer Banks, outlining their specific roles in the payment infrastructure. It mandates the implementation of a Unified Issuer TSP Interface to manage token issuance for all cards issued domestically.
Chapter Eight: The Rules Regulating Card Coding Services on Electronic Device Applications within the Arab Republic of Egypt
Introduction
These rules aim to define a framework for banks and all parties participating in the infrastructure for providing electronic payment card coding services, in order to provide maximum flexibility and security and offer appropriate banking services for all segments of society, with the goal of spreading electronic payment methods and achieving financial inclusion.
| Term | Definition |
|---|---|
| Card Tokenization | Replacing actual card data with a unique code called "Token", which represents a set of data such as the card number and token validity period. |
| Token Service Provider (TSP) | An entity located within the payment system and authorized by the Central Bank to issue and manage tokens. |
| Token Requestor | Entities that request card tokenization from the Token Service Provider via channels and electronic applications. |
| Unified Issuer TSP Interface | The unified interface that works to link between all card-issuing banks and acquiring network owners, with the aim of managing token issuance for all cards issued within the Arab Republic of Egypt. |
| Original Equipment Manufacturer Wallet (OEM Wallet) | Card tokenization applications issued jointly by electronic device manufacturers (e.g., Apple Pay, Google Pay, Samsung Pay). |
| Host Card Emulation Wallet (HCE Wallet) | Payment tools made available by card-issuing banks for use in electronic payment operations, for example, electronic cards. |
| Issuer Bank | The bank licensed by the Central Bank to issue electronic payment tools of various types along with acquiring networks for customers and verifying that these transactions comply with the supervisory regulations issued by the Central Bank. |
| Acquirer Bank | The bank licensed by the Central Bank to provide electronic acceptance services using various payment tools issued by banks and completing joint transactions and ensuring that these transactions comply with the supervisory regulations issued by the Central Bank. |
Letter from Mr. / Governor of the Central Bank of Egypt dated March 8, 2023
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