MDP, a leading digital payments enabler in Africa, has achieved a major milestone by becoming the first payment processor in Egypt to enable tokenization for electronic transactions. This strategic breakthrough was made possible through a successful collaboration with the National Payment Scheme “Meeza” and Apple Pay, marking the completion of the token provisioning phase.
With tokenization now live, banks and fintech companies across Egypt can allow customers to digitally provision physical cards into Apple Wallet, turning iPhones and other Apple devices into secure, contactless payment tools. Tokenization replaces sensitive card details with a unique digital token, offering advanced fraud protection and transaction security.
The system supports seamless payments via Face ID, Touch ID, or passcode, with each transaction authorized using a dynamic, one-time security code. As a result, card details are never stored on devices or shared with merchants, ensuring a safe and private payment experience for users across POS terminals and e-commerce platforms.
This advancement supports the Central Bank of Egypt’s vision to accelerate secure, digital payment adoption. According to the Central Bank, POS transactions surged to EGP 640 billion in 2024, up from EGP 169 billion in 2021, while e-commerce transactions skyrocketed to EGP 180 billion, reflecting over 500% growth.
Ahmed Nafie, CEO & Co-founder of MDP, said, “This is a critical leap for Egypt’s digital economy. By enabling tokenization, we’re giving banks and fintechs the tools to offer secure, contactless payments using trusted cards.”
Hisham Mohy, COO of Processing at MDP, added, “This isn’t just technical progress—it’s a shift in how payments are made. We’re proud to lead Egypt toward a secure and scalable digital future.”
With this move, MDP cements its role in transforming Egypt’s payment ecosystem into a secure, open, and future-ready digital environment.
