UAE consumer appetite for digital payments takes off
DUBAI, 2 hours, 46 minutes
ago
Research from Mastercard shows that the adoption of new payment technologies is rising, and consumer appetite for new, fast and flexible digital experiences continues to grow.
The Mastercard New Payments Index shows 97% of UAE consumers will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year.
Over two-thirds of respondents (66%) agree they have tried a new payment method they would not have tried under normal circumstances, but the pandemic has galvanised people to try flexible new payment options to get what they want, when they want it. With this interest and consumer demand also comes a greater expectation for businesses to provide multiple ways to shop and pay. In fact, 62% of UAE consumers say they would avoid businesses that do not accept electronic payments of any kind. Additionally, nearly 3 out of 4 (74%) UAE consumers say that digital payment methods help them save money.