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Ecommerce payments in UAE to reach AED 46.3 bln by 2022, report shows

Tuesday 23 April 2019 | 11:02 AM CET

Ecommerce payments are set to grow at a CAGR of 19.1% from AED 31.5 bln (USD 8.6 bln) in 2018 to AED 46.3 bln (USD 12.6 bln) in 2022, according to GlobalData.

The report, Payments Landscape in the UAE: Opportunities and Risks to 2022, shows that with the increase in the internet penetration, smartphone usage, and a growing consumer preference for online shopping, the overall ecommerce payments value doubled between 2014 and 2018.

The reports further uncovers the following:

  • PayPal, Visa Checkout, and Masterpass are increasingly being used for making online payments;

  • PayPal alone accounted for a 6.4% share in terms of ecommerce transaction value in 2018;

  • the Emirati government has made efforts to develop the country’s ecommerce market, particularly by implementing free ecommerce trade zones (Dubai CommerCity, the first dedicated free zone in the entire Middle East and North Africa region, set up in 2017);

  • the latest foray into the country was the launch of online shops by international retailers Marks & Spencer and H&M in 2018.