Browsing: Egyptian Banking Institute (EBI)

Digital payment growth could boost Egypt’s GDP by 3.5pc -Visa

Economic growth generated through digital payments could add up to 3.5 per cent to Egypt’s GDP, according to Visa.

Visa, which describes itself as the world’s leader in digital payments, in partnership with the Egyptian Banking Institute (EBI), hosted the Egypt Payment Security and Digital Solutions Conference earlier this week.

The conference was attended by leaders from Egyptian banks, traders and fintech firms, it featured presentations by Visa experts on the latest cyber-security trends and digital solutions.

The company also presented its security roadmap for Egypt’s payments ecosystem, which is based on the strategic security pillars of protecting data, devaluing data, harnessing data and empowering consumers.

It includes facilitating the deployment of best-in-class digital solutions such as contactless cards and tokenisation which is a process where personal data is protected by replacing it with a randomly generated number or token so as to support both online payments and in-store, as