MDP, the leading digital payments enabler across Africa and the Middle East, has achieved a landmark breakthrough by becoming the first payment processor in Egypt to enable tokenization for electronic transactions, in strategic collaboration with the National Payment Scheme “Meeza” and Apple Pay.
This milestone marks the successful completion of the token provisioning phase, allowing banks and fintech companies across Egypt to offer their customers secure digital provisioning of physical cards into Apple Wallet. As a result, users can now make secure, contactless payments via iPhones and other Apple devices, authenticated through Face ID, Touch ID, or device passcode.
What is Tokenization and Why It Matters?
Tokenization replaces sensitive card data with a unique digital token, ensuring card details are never stored or shared during transactions. Every payment is authorized using a one-time dynamic security code, which dramatically reduces the risk of fraud and data theft—making it a game-changer in transaction security.
This innovation introduces a seamless, fast, and highly secure digital payment experience across both physical POS terminals and e-commerce platforms in Egypt.
Aligned with the Central Bank of Egypt’s Vision
This launch supports the Central Bank of Egypt’s broader digital transformation strategy. The value of POS transactions in Egypt reached EGP 640 billion by the end of 2024, a 280% increase from EGP 169 billion in 2021. Similarly, e-commerce transactions exceeded EGP 180 billion, up from EGP 29 billion in 2021—a growth of more than 500%.
Tokenization is now seen as a key driver in supporting this exponential growth by providing secure, scalable, and future-ready digital transaction infrastructure.
Executive Comments
“This marks a critical step forward for Egypt’s digital economy,” said Ahmed Nafie, CEO & Co-founder of MDP.
“By becoming the first to enable tokenization, MDP is unlocking a secure and scalable future for payments in Egypt. Through our collaboration with Meeza and Apple, we’re empowering every bank and fintech to offer safe, contactless payments using the cards customers already trust.”
Hisham Mohy, COO of Processing at MDP, added:
“This is not just a technical milestone. It’s a turning point for the way payments are made in Egypt. With token provisioning now activated, any physical card can be securely digitized—transforming Egypt’s financial ecosystem into a digitally enabled future.”
Egypt Joins the Ranks of Global Digital Payment Innovators
With Egypt’s payment ecosystem evolving rapidly, MDP’s tokenization enablement places the country at the forefront of global digital payments innovation, setting a new standard for secure, user-friendly, and scalable financial services in the region.
