Sigma Capital

02-02-2026

Egypt’s central bank launches soft POS service for contactless payments via smartphones & tablets

Source: MIST

businesstodayegypt-


The Central Bank of Egypt (CBE) announced the official launch of a new contactless electronic payment service that enables merchants to accept card payments via smartphones and tablets using Soft POS applications, according to a statement released Sunday.

The service allows merchants to transform their smart devices into electronic payment acceptance points, enabling payments with various types of contactless cards.

Merchants simply download a Soft POS application onto their device, entering card PINs directly on the device screen in a secure and internationally approved process.

CBE Governor Hassan Abdalla said the service is part of the Bank’s ongoing efforts to expand the digital payments infrastructure, simplify financial transactions for citizens and merchants, support financial inclusion, and enhance access to electronic financial services anytime and anywhere.

The new system eliminates the need for traditional POS terminals, reducing both purchase and maintenance costs for merchants or payment service providers.

It also aims to integrate small businesses into the electronic acceptance ecosystem while improving the customer experience by enabling faster, more secure, and flexible payment processes.

The CBE had previously tested the service in pilot phases with transaction limits set at EGP 600.

The official rollout reflects the Bank’s commitment to developing digital payment services in line with global trends, offering merchants and payment service providers a flexible, cost-effective alternative to traditional payment terminals.