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PUBLISHER: yStats.com GmbH & Co. KG | PRODUCT CODE: 1149658

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PUBLISHER: yStats.com GmbH & Co. KG | PRODUCT CODE: 1149658

Middle East and Africa Mobile Payment Methods 2022

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PAGES: 52 Pages
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"The use and adoption of mobile payments is seeing spreading gradually in Middle East & Africa, despite some barriers to resolve": new yStats.com report.

The growth pattern of digital payment methods such as mobile wallets is different across the region, with some countries progressing more than the others

Survey respondents in the Middle East and Africa believed that digital wallets are expected to be the payment method most preferred by the consumers by 2025, according to a source cited in the new yStats.com report. However, not all countries in the region are progressing at the same rate. The UAE, Saudi Arabia, and Egypt are the drivers of the growth, while countries such as Nigeria, Israel, and Jordan lag behind. In Nigeria, the share of mobile wallet users is forecasted to grow twofold between 2020 and 2025, but it will still be low as compared to other countries in the region. The mobile wallet transactions in terms of value and volume are projected to see a double-digit CAGR in the same period, with value reaching a certain billion Euros by 2025, as per the new yStats.com report. Furthermore, the number of mobile payment transactions in the country more than doubled between 2020 and 2021. In Israel, more than three-quarters of the payments came via cards in 2021, with a small percentage of payments coming via electronic wallets. Nevertheless, more than half of credit card payments were contactless and came via digital wallets in 2021, as mentioned in the new yStats.com report.

Despite the rise in mobile payment methods in Africa, certain barriers impede the growth path

The digital payments use in Middle East & Africa observed a growing trend even before the pandemic and continued its expansion post pandemic. The massive growth in the number of digital payment transactions and card payments in UAE and Saudi Arabia respectively can be attributed to the outbreak of the pandemic, according to a survey cited in the new yStats.com report. Moreover, more than three quarters of the surveyed payment professionals believed that the cashless payments in the region accelerated due to the pandemic. The digital point of sales retail transactions in Saudi Arabia doubled in 2021, as per the latest yStats.com report. Despite the increasing adoption of digital payments in Africa, lack of knowledge and relevance were the main barriers for mobile money account ownership. Even though the region faces some complex barriers in terms of the use of mobile payments, mobile money providers and other stakeholders are taking the relevant steps to reduce these barriers. For instance, in Senegal more than two-thirds of the surveyed adults used mobile money even though half of them had difficulties in reading and writing, as per a survey cited in the new yStats.com report.

Product Code: 1594

Table of Contents

1. Management Summary

2. Global Developments

      • Online & Mobile Payment Trends, July 2022
      • Value of Digital Wallet Transactions, in USD trillion, 2022f & 2026f
      • Mobile Payment Market Size, in USD trillion, 2021 & 2028f
      • Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps, in billions, 2022f & 2026f
      • Most Used Payment Methods When Shopping Online During The Pandemic, in % of Online Shoppers, by Selected Countries, April 2021
      • Value of Biometrically Authenticated Remote Mobile Payments, in USD billion, 2022e & 2027f
      • Volume of Biometrically Authenticated Remote Mobile Payments, in billions, 2022e & 2027f
      • Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
      • Proximity Mobile Payment Users Worldwide, in millions, and Year-on-Year Change, in %, 2020-2025f
      • Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2020-2025f
      • Number of Mobile Wallet Users, by Region, in millions, 2020 & 2025f
      • Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
      • Payment Methods Accepted by Online Merchants, by Already Accepted and Planned, in % of Online Merchants, February 2022
      • Breakdown of Digital Banking Fraudulent Transactions, by Channel, incl. Mobile App, in %, Q3 2019 - Q2 2021

3. Middle East & Africa

  • 3.1. Regional
      • Online & Mobile Payment Trends, July 2022
      • Most Preferred Payment Methods by 2025, in % of Respondents, 2020
      • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020-2025f
      • Overview of Mobile Money Statistics in Africa, incl. Number of Live Services, Registered Accounts, in millions, Active Accounts, in millions, Transaction Volume in millions, and Transaction Value, in USD billion, and Year-on-Year Growth, in %, by Sub-Region, 2021
  • 3.2. UAE
      • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
      • Digital Payment Transaction Value, in USD billion, 2020 & 2030f
      • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
      • Average Annual Digital Payment Transaction Value Per User, in USD, 2019-2021
      • Number of Digital Payment Transactions, in billions, 2020 & 2030f
      • Breakdown of Most Used Payment Methods, in %, 2021
      • View On Digital Payments, in % of Merchants, 2020
  • 3.3. Saudi Arabia
      • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
      • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • 3.4. Israel
      • Breakdown of Most Used Payment Methods, in %, 2021
      • Breakdown of Types of Credit Card Payments, in %, 2021
  • 3.5. Jordan
      • Breakdown of Mobile Wallet Usage, by Banked and Unbanked, in % of Respondents, 2021
      • Reasons For Owning Mobile Wallets, in % of Mobile Wallet Owners, 2021
  • 3.6. Egypt
      • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
      • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
      • Number of Mobile Wallets, in millions, H1 2020 & H1 2021
  • 3.7. Nigeria
      • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
      • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
      • Number of Mobile Payment Transactions, in millions, and Value, in NGN billion, 2017-2021
  • 3.8. Kenya
      • Mobile Payment Statistics, incl. Number of Transactions, in Millions, Value of Transactions, in KES Billion, Number of Accounts, in Millions, and Number of Agents, in Thousands, 2011-2021
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