Market Research Report
Middle East & Africa Online Payment Methods: Full Year 2017
|Published by||yStats.com GmbH & Co. KG||Product code||666515|
|Published||Content info||71 Pages/Charts
Delivery time: 1-2 business days
|Middle East & Africa Online Payment Methods: Full Year 2017|
|Published: July 17, 2018||Content info: 71 Pages/Charts||
"Online shoppers in Middle East and Africa wary of fraud in online payments."
A new report from Hamburg-based online business research firm yStats.com, “Middle East & Africa Online Payment Methods: Full Year 2017” synthesizes data and trends in online and mobile payment in over 10 economies of the region. One finding is that adoption of online payment methods lags other global regions.
In most countries of the Middle East and many African nations, cash of delivery is the preferred method of payment for goods ordered online, bucking the global trend of credit card usage or other online payment methods such as PayPal and mobile wallets. Survey responses cited in the yStats.com report indicate that one of the reasons for this region-wide hesitance to use online payment methods is a lack of trust in their security.
Specifically, the yStats.com publication shows that a double digit percentage of respondents in the Middle Eastern countries indicate discomfort with online payments. A large share of online shoppers in the UAE, Saudi Arabia, Kuwait and Lebanon prefer cash over all other payment methods when shopping online. Likewise, potential online shoppers in Israel have stated a hesitance to make purchases because of payment security concerns.
On the African continent there is diversity in online payment adoption. In South Africa, online shoppers use credit and debit cards, though some surveyed consumers indicate reluctance to make online purchases for payment safety reasons. Online purchasers in Egypt show the same hesitance to make payment online as their Mideast neighbors. In Kenya, a movement away from cash on delivery is developing, as mobile money solution M-Pesa is the second most popular payment method in E-Commerce. Data cited in the yStats.com report shows that mobile payments are catching on throughout the Middle East and African economies, gaining a few percentage points in penetration in the last three years.
Middle East & Africa.
M-PESA Holding Company Ltd, Paypal Inc.