CBE planning to increase electronic POS around Egypt to 1mn from 72.5k by 2021
The Central Bank of Egypt (CBE) is planning to increase the number of electronic points of sale (POS) around the country to 1mn from a current 72.5k by 2021, CBE Sub-Governor for Payment Systems and Business Technology Ayman Hussein told Al Mal. The CBE is eyeing targeting increasing electronic transactions to 10% from a current 2% of total transactions over the next three years. The plan is part of the government’s transition towards financial inclusion and a cashless economy.
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