Middle East and Africa Online Payment Methods Industry to 2025 - Consumers Continue to Adopt Digital Payments, Overcoming Major Barriers
DUBLIN, July 25, 2022 /PRNewswire/ -- The "Middle East and Africa Online Payment Methods 2022" report has been added to ResearchAndMarkets.com's offering.
According this report, the online payments industry worldwide continues to progress, initially driven by the increased digital payment adoption throughout the pandemic. Common payment methods remain mostly card-based, with debit and credit cards ranking among the most preferred payment methods when shopping online.
Another payment method gaining momentum currently globally is digital wallet as more and more consumers are using it to pay for their purchases online. Due to the growing use of digital wallets, online merchants are also adjusting their offered payment methods, with almost half of all E-Commerce companies already accepting digital wallets as payment methods and around one third planning to expand their digital wallet adoption in the future.
Whereas, when compared to the traditional banking sector, the mobile money sector in Africa has drastically improved accessibility and ease of use for its consumers, though lack of knowledge and relevance persist as the main barriers for mobile money account ownership in this region. In the Middle East, card and digital wallets are growing in use among online shoppers.
Key Topics Covered:
4. Middle East
4.2. Saudi Arabia
For more information about this report visit https://www.researchandmarkets.com/r/8h5h61
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SOURCE Research and Markets