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GCC ready to tap into alternative payment methods – study

Thursday 26 May 2016 13:43 CET | News

More than two thirds (77%) of residents across the Gulf Cooperation Council (GCC) would opt for alternatives to cash and card payments if these were available in their country.

The most preferred alternative payment methods are government identity cards (12%), banking apps (17%), and mobile wallets (9%), according to a study commissioned by Cards & Payments Middle East, gulfnews.com reports.

More than 16% of respondents who use cash as their current preferred payment method would adopt alternative options, should they be available in their respective countries.

According to the study, 29% of Emiratis use Emirates ID cards to make payments and 18% of Omani are interested in the same method of payment. Survey respondents also expressed interest in Samsung Pay (5%). The survey took place in April 2016, with 2.700 participants from across the GCC including the UAE, KSA, Qatar, Bahrain, Kuwait and Oman.


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Keywords: GCC, alternative payment methods, card payments, cash, banking apps, mobile wallets, Samsung Pay
Categories: Payments & Commerce
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Countries: World
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Payments & Commerce