{"product_id":"middle-east-online-payment-methods-2023","title":"Middle East Online Payment Methods 2023","description":"\u003cp\u003eMiddle East Online Payment Methods 2023\u003c\/p\u003e\n\n\u003cp\u003eAs of 2023, digital wallets constitute approximately 20% of the total online spending in the MENA region: new yStats.com report.\u003c\/p\u003e \n\n\u003cp\u003eCard payments are the dominant force, but alternative payment methods are on the rise in the Middle East\u003c\/p\u003e \n\n\u003cp\u003eNotably, digital payment adoption is high in countries like the UAE, Israel, and Saudi Arabia, where between 7 and 9 out of 10 adults embraced digital payments in 2022. In contrast, Jordan shows a lower double-digit adoption rate, highlighting variations in digital payment development within the region.\u003c\/p\u003e\n\n\u003cp\u003eWhen it comes to online shopping in Saudi Arabia, there is a relatively even distribution between card and alternative payment methods. In Israel, cards play a significant role in online payments, followed by e-wallets. Moreover, the card payments market in Saudi Arabia is projected to experience a double-digit CAGR by 2027. As such, card payments maintain their dominance as a leading online payment method in the Middle East, while digital wallets account for about a fifth of the total online spending in the MENA region.\u003c\/p\u003e\n\n\u003cp\u003eA notable trend is the anticipated double-digit CAGR in real-time payments\u003cbr\u003e\n \u003cbr\u003e\nWhile card payments remain prominent in major Middle Eastern countries, alternative payments are gaining ground. This shift is evident in the increased use of real-time payments. For instance, in Saudi Arabia, the number of real-time payment transactions is expected to more than triple between 2022 and 2027, showing a double-digit CAGR. Furthermore, in the UAE, real-time payment transactions are projected to nearly quadruple during the same period, with an even higher double-digit CAGR.\u003c\/p\u003e","brand":"Service Industries","offers":[{"title":"October, 2023 \/ 53 Pages \/ MCW16278765","offer_id":47710768726322,"sku":null,"price":2520.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/middle-east-online-payment-methods-2023","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}