The UAE market is defined by limited penetration of payment cards and a high reliance on cash among consumers. In spite of an increasing trend in the use of technology, contactless payment rollout and adoption have yet to reach full potential in the Emirati market and there continues to be a significant share of non-mobile wallet owners who are not interested in using mobile wallets. Pay-later cards continue to be the most frequently used cards and only 30% of Emirati consumers pay their balance in full each month, leading to a significant rise in consumer indebtedness among Emirati credit card holders.
- Cash remains important as a payment tool in the UAE and debit cards are used mainly to withdraw cash. However, there is an increasing opportunity for providers to educate consumers on the merits of debit cards and use incentives to drive consumer usage at the POS.
- While e-commerce accounts for the majority of online purchases by value in the UAE and is set to record a CAGR of 33% between 2015 and 2020, m-commerce is expected to record a significant CAGR of 29% during the same period. Emirati consumers are becoming increasingly comfortable using mobiles to shop online, offering opportunities for further enhancement of mobile payments offerings.
- In spite of a relatively developed contactless payment infrastructure and merchant acceptance, Emirati consumers have yet to make significant progress in adopti
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