UAE consumers prefer mobile payments

By Bizclik Editor

UAE consumers prefer paying for purchases with their mobile phones, according to research just released by Mastercard. On the whole, consumers in the UAE have a positive attitude towards digitalisation and innovation and are optimistic about the potential of digital technologies to improve their lives.

The study also showed that two out of five consumers in the UAE call themselves ‘eager promoters’ of new technology – a relatively high share compared to other countries. People in the Middle East and Africa were generally found to demand more innovation in all areas.

The Mastercard Impact of Innovation Study surveyed 23,000 consumers in 23 different countries across the Middle East, Africa and Europe about their attitudes to digital technology. It found that while in Africa and the Middle East over 70 percent said they were ready to pay with their smartphones, Western Europeans have some way to go – only 40 percent said so.

The study was released on the sidelines of the Mastercard Innovation Forum 2016, which opened in Hungary with the participation of more than 500 attendees from the Middle East and Africa, Central and Eastern Europe, Russia, Turkey and Ukraine.  

Khalid Elgibali, Division President for Middle East and North Africa, Mastercard, commented: “The study points to how digital technology is reshaping the payment landscape in the UAE and impacting all areas of everyday life. Smartphones have become an indispensable part of consumers’ daily lives and this has given rise to a new breed of mobile-first and mobile-only users, who rely on their phones for a variety of purposes including making payments. The findings of the study underscore this growing consumer appetite for new and better ways to pay. The trend of consumers replacing cash and cards with phones also affirms the UAE’s reputation as one of the most tech-ready countries in the world.”

Follow @BusinessRevME

Read the September 2016 issue of Business Review Middle East magazine

Share

Featured Articles

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

As Saudi pushes for more nationals and women in the workplace, all eyes are on the Kingdom’s HR leaders. Here, 10 female HR execs leading the transition

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy

Top 10 Executive MBA programmes in the United Arab Emirates

Leadership & Strategy