Rules Regulating the Interoperability of Cash Deposit and Withdrawal Services through Service Providers

July 2021

CENTRAL BANK OF EGYPT

Table of Contents

No.	Section
1	Introduction
2	General Definitions
3	Scope
4	General Rules for Banks
5	Confidentiality and Security of Information
6	Issuance of Licenses to Provide the Service

1. Introduction

These rules have been prepared to regulate cash deposit and withdrawal services through service providers within the Arab Republic of Egypt, and to set standards that aim to increase the spread of cash deposit and withdrawal points within the Arab Republic of Egypt, and to limit the associated risks, thereby ensuring tangible steps in the development of the electronic payments field in a safe and effective manner.

Eligible Bank	Issuing Bank	Acquiring Bank	Service Provider
A bank eligible to provide payment acceptance services, including processing/accepting payments from various payment sources issued by banks and joint ventures, and ensuring that these operations comply with the applicable regulatory standards.	A bank that issues electronic payment instruments of various types, including prepaid cards, for financial and treasury transactions, and ensures that these operations comply with the applicable regulatory standards.	A bank that issues electronic payment instruments of various types, including prepaid cards, for financial and treasury transactions, and ensures that these operations comply with the applicable regulatory standards.	A party from the entities of the financial system that contracts with the issuing bank after obtaining the approval of the Central Bank of Egypt to provide services related to cash deposit and withdrawal, referred to as payment service providers.

2. General Definitions

• Eligible Bank: A bank eligible to provide payment acceptance services, including processing/accepting payments from various payment sources issued by banks and joint ventures, and ensuring that these operations comply with the applicable regulatory standards.

• Issuing Bank: A bank that issues electronic payment instruments of various types, including prepaid cards, for financial and treasury transactions, and ensures that these operations comply with the applicable regulatory standards.

• Acquiring Bank: A bank that issues electronic payment instruments of various types, including prepaid cards, for financial and treasury transactions, and ensures that these operations comply with the applicable regulatory standards.

• Service Provider: A party from the entities of the financial system that contracts with the issuing bank after obtaining the approval of the Central Bank of Egypt to provide services related to cash deposit and withdrawal, referred to as payment service providers.

• Payment Instruments: Electronic payment instruments of various types, including:

  • Prepaid Credit/Debit Cards.
  • Mobile Wallets.
  • Wearables.

• Payment Service Provider: A party from the entities of the financial system that contracts with the issuing bank after obtaining the approval of the Central Bank of Egypt to provide services related to cash deposit and withdrawal, referred to as payment service providers.

• Merchant: An entity that allows the eligible bank to accept electronic payment instruments of various types, including prepaid cards, for financial and treasury transactions, and ensures that these operations comply with the applicable regulatory standards.

• Payment Network: The electronic payment network and joint operations related to the aforementioned instruments, in accordance with the rules issued by the Central Bank of Egypt.

• Card Number: The unique number used to identify the cardholder and the device used to verify the authenticity of the transaction.

• Cardholder Verification Method (CVM): Whether it is a phone number or one of the biometric identifiers of the service user, used to verify the authenticity of the transaction up to the limit assigned for contactless transactions.

• Security Test: A test designed to detect flaws or weaknesses in the system or its environment that may be exploited by other users to interact with it.

• Service Agreement: A contract between the bank and the service provider that documents the service provided, priorities, responsibilities, guarantees, and warranties related to the provision of the service and the...

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