Middle East and Africa Online Payment Methods Analysis & Forecasts 2019-2022 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 25, 2019--The “Middle East and Africa Online Payment Methods 2019” report has been added to ResearchAndMarkets.com’s offering.
MENA E-Commerce sees cash on delivery challenged by cards and mobile wallets
Cash on delivery has been a top payment method used by online shoppers in countries such as the UAE and Saudi Arabia. However, recent surveys cited in the report show that consumers are now becoming more comfortable with paying online. In the UAE, more than two-thirds of shoppers who paid online at least once by a card or a digital wallet will consistently choose this method in the future.
The African continent shows diverse preferences of digital buyers when it comes to payment means. South Africa stands out with the majority of shoppers paying online by credit or debit card. In Egypt, digital wallets such as PayPal and CashU are popular; while in Uganda, more than one in two online shoppers choose to pay via mobile money services, according to data cited in the report.
Mobile payment adoption is gradually taking off, driven by mobile wallets in the MENA region and mobile money in Sub-Saharan African countries, as shown in the report. A number of mobile wallet solutions were rolled out over the past months, including Google Pay in the UAE and Apple Pay in Saudi Arabia. At the same time, mobile money services such as M-Pesa are helping drive financial inclusion in African countries, where card and bank account penetration rates are generally low double or even single digits.
In Saudi Arabia and the UAE, cash is used by digital buyers
Online shoppers in countries such as Saudi Arabia and the UAE use cash on delivery as their top payment method. Notwithstanding, consumers are adapting more and more to paying online, suggests a survey mentioned in the report.
African online shoppers’ payment preferences vary
There is a great deal of diversity amidst digital buyers’ preferences of payment means in Africa. South Africa is distinct, where most shoppers paying online use credit or debit cards. This is juxtaposed with Egypt, where digital wallets are popular, and then again with Uganda, where mobile money services take the top seat, quotes the report.
The ground work is laid for mobile payment growth in the Middle East and Africa
Adoption rates for mobile payment are increasing in the region, compelled by MENA’s mobile wallet usage and Sub-Saharan Africa’s mobile money popularity. The publication cites that mobile wallet solutions like Apple Pay and Google Pay are being rolled out in the region, with the latest developments in Saudi Arabia and the UAE.
Questions Answered in this Report
- What are the major digital payment trends in the Middle East and Africa?
- How do payment method preferences of online shoppers vary between countries?
- How high is the share of digital buyers using cash on delivery in various countries of the Middle East and Africa?
- Which barriers prevent consumers from using online payments?
- What is the projected growth of mobile payments in the Middle East and Africa by 2022?
- Apple Inc
- Beam Wallet Ltd
- CashU Inc
- Google LLC
- Mastercard Inc
- Paypal Inc
- Samsung Co. Ltd
- Visa Inc.
For more information about this report visit https://www.researchandmarkets.com/research/6zbb4k/middle_east_and?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190325005282/en/
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Related Topics:E-Business,Online Banking
KEYWORD: AFRICA MIDDLE EAST
INDUSTRY KEYWORD: TECHNOLOGY INTERNET PROFESSIONAL SERVICES BANKING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 03/25/2019 05:38 AM/DISC: 03/25/2019 05:38 AM