E-commerce transactions within the UAE are forecast to total $16 billion (Dh59 billion) in 2019 and grow 23% annually between 2018 and 2022.
By growing the e-commerce sector within the UAE, we have a tendency to are by extension serving to drive the economic process and extend the advantages of digital payments to residents and businesses within the country.
High digital penetration:
With the globe turning into additional connected and consumers’ trust on on-line searching evolving, we have a tendency to believe that client pay via on-line retail platforms can see vital growth within the returning years
UAE residents are among the highest ten globally once it involves outlay time on the web and social media, averaging 7 hours and 54 minutes daily.
The UAE’s population contains nearly 30% of digital-native millennials (born between 1981 and 1996) and a growing info Z (born between 1997 and 2012). These digital natives are continually connected and get on-demand, near-instant solutions.
Rising use of mobile wallets:
The use of mobile wallets within the UAE has accrued with world giants like Google Pay, Samsung Pay and Apple Pay getting into the fray at the side of native players like Etisalat billfold and Beam billfold, also as native banks.
The government has enforced a variety of initiatives to support it, like the wage protection system.
Trust in digital payments:
As per a recent Visa-DED security survey that examined client perception of digital payments and on-line searching, 66% of respondents aforementioned trust on-line searching and 70 trust online payments.