UAE: The Use of Digital Payments Increased by 98%
- Publish date: Sunday، 05 December 2021
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ECommerce and contactless payments have increased in popularity and use in the UAE since the start of the pandemic, paying by Cash on Delivery (COD) has declined significantly 75%, while the use of digital payments (contactless cards and mobile wallets) for payment online or on delivery has almost doubled (by an average of 98%) according to finding from 2021 Stay Secure survey conducted by Visa, Dubai Police, and Dubai Economy (DED)
While almost 4 in 10 UAE consumers have experienced online fraud attempts in the past year, trust and usage of digital payments both in-store and online see no signs of ceasing as consumers still prefer them over cash.
Consumer feedback reinforces the belief that there is no reversal of this trend, with 40% consumers saying they are less likely to use COD and 45% are more likely to use contactless payment methods in the future.
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Nearly two-thirds of consumers (63% ) have high level of confidence in digital payments (contactless cards and mobile wallets) for shopping in-store and payment on delivery, an increase since the start of the pandemic.
Top reasons consumers gave for their trust in contactless include convenience (60 percent), speed (59 percent), control (the card or mobile never leaves consumer’s hand during transaction) (46 percent), avoiding human touch (56 percent) and innovative way to pay (48 percent).
The survey also sheds light on consumers' experiences with fraud, with 39 percent of UAE consumers surveyed admitting they have experienced an online fraud attempt.
This article was previously published on UAE Moments.To see the original article, click here