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Egypt’s Tokenization Requirements as per CBE Guidelines
Introduction
Payment industry is witnessing various progressive innovations as pace of change accelerates. At the same time, it requires increased protection against frauds to reduce unauthorized access to cardholder data and stop cross-channel deception. Tokenization of card-holder information is a step in that direction. Central Bank of Egypt (CBE) has also published its guidelines on the requirements for banks and payment networks to adhere to while providing digital payment services. In this POV, we discuss the requirements, key focus areas, risks to watch-out for and the future of tokenization and payments services.
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