UAE e-commerce set to yield $10 billion a year from 2020

By Bizclik Editor

New research by WorldPay has projected that by 2020 e-commerce turnover in UAE will rise to US$10bn a year from US$4bn today and mobile payments will be US$4bn up from US$4bn now.

These new forecasts come on the opening of a major payments conference, PayExpo MENA, taking place in Dubai until 7 December which has among its local partners and sponsors International Chamber of Commerce (ICC-UAE), Dubai Road and Transport Authority (RTA).

Michael Seaman, event director for PayExpo MENA, comments: “This latest research highlights the importance to banks, retailers and businesses in the MENA region of being ready for the massive opportunities it will bring. PayExpo MENA will provide valuable insight.”

Delegates to PayExpo MENA will hear from some of the preeminent experts on payments trends and technology from the United Arab Emirates and across the globe. The comprehensive two-day summit will address key opportunities and challenges in the financial services, retail, transport, mobile, gaming and leisure markets – from enhancing and encouraging the global FinTech and ecommerce scene to revolutionising mobile financial services and banking around the world.

“As we experience the latest innovations that are setting the tone for 2017 payments evolution in the MENA region, we must appreciate the vision and efforts that we see in the area.  For example, UAE’s goal to become a predominantly cashless society and the increasing penetration of touch-less payments are some of the many benchmarks that need to be reinforced and supported. However, such initiatives will require serious coordination among all industry players and relative entities. Specialized events like PayExpo will help bridge the gap between the various initiatives in the region and instigate the needed synchronization for mass adaptation,” says the Director of Digital Payments at Etisalat, Sammy Tuffaha.  Etisalat is an Event Partner of PayExpo MENA.

Among the topics to be covered, the contribution from Blackberry will explore the strengths and pitfalls of digital currency, which are very much in their infancy in the region; Emirates NBD will address the security issues around current and emerging payment systems; Marka VIP, the largest ecommerce retailer in the UAE – will explain what they are doing to stay ahead of the competition. Dubai Road and Transport Authority (RTA) will provide the latest industry updates in a keynote session - ‘the view from public transport: what a smart payment city looks like in Dubai.’

Complimentary passes are available for those involved with specifying payments solutions in: retail banks; investors and venture capitalists, merchants; mobile network operators, gaming executives, transport operators, hotel and leisure, start-ups and non-government authorities.

Registration is now open at:

For more information, please visit:

Follow @BusinessRevME

Read the December 2016 issue of Business Review Middle East magazine


Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy