Contactless payments are not yet widespread in Africa due to factors like lack of consumer education, inadequate technology infrastructure, and insufficient regulatory support.
Egypt, for instance, has the necessary tech infrastructure for contactless payments but faces slow adoption rates.
Apple Pay has recently been introduced in Egypt through partnerships with the country’s three largest banks, potentially reaching millions of customers for contactless payment solutions.
The adoption of tokenisation regulations in Egypt has created a conducive environment for Apple Pay’s entry into the market, although its availability is limited to iPhone users.
Despite the challenges of smartphone taxes and market competition, Apple is making efforts to establish a presence in Egypt and expand its reach in Africa through Apple Pay.
Apple Pay’s early entry into Egypt gives it an advantage over competitors like Samsung Pay and Google Pay, which are not yet accessible in the country.