Digital payments register strong growth in the UAE with a total value of US$ 19 billion in 2020

14 Dec 2021

A new report from Arab Advisors Group analyzing the booming digital payments sector in the UAE and the digital payments instruments offered by key players. 

Arab Advisors Group released a new report: “Digital Payments in the United Arab Emirates” which analyzed the various digital payments offered by telecom operators and key digital payment players in the UAE. The report, which was released in November 2021, answers the following questions: 

·         What are the digital payments available in the UAE, who are the key players and what are their offerings?

·         What is the regulatory framework governing digital payments?

·         How are telecom operators involved in digital payments?

·         What are the recent key events in this sector?

·         What are the significant digital payment indicators?

“The UAE has been at the forefront of digitization, and digital financial services are no different,” said Hiba Rabadi, Arab Advisors Group’s Deputy General Manager. “What we have seen is that there is tremendous growth in the sector. The UAE Government is at the helm of innovation in the digital financial sector, supported by international heavyweights and homegrown players.”

“This is an exciting time for the digital payments sector in the UAE. The Central Bank of the UAE has recognized digital as a significant segment of the UAE’s economy by bestowing payment providers with proper licensing, and rightfully so. The sector has strong revenues, and our analysis revealed that the total value of digitally backed payments in the UAE reached US$ 19 billion in 2020,” said Dana Shekem, Arab Advisors Group’s Analyst. “However, we feel that telecom operators would benefit from delving into this sector further, as the potential is great.”

Please contact Arab Advisors Group for more details or to get a copy of the report's Table of Contents. The report was released to Arab Advisors Group’s subscribers and can be purchased for a fee of US$ 4,800

Arab Advisors Group’s team of analysts in the region produced over 5,500 reports on the Arab World’s communications, media and financial markets. The reports can be purchased individually or received through an annual subscription to Arab Advisors Group’s ( Strategic Research Services (Media and Telecom).

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