{"id":18004,"date":"2022-08-05T13:10:49","date_gmt":"2022-08-05T13:10:49","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=18004"},"modified":"2022-08-04T13:20:23","modified_gmt":"2022-08-04T13:20:23","slug":"non-cash-payments-gain-traction-in-the-middle-east","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/08\/05\/non-cash-payments-gain-traction-in-the-middle-east\/","title":{"rendered":"Non-cash payments gain traction in the Middle East"},"content":{"rendered":"
\nThe region is seeing fewer cash payments with 64 per cent of consumers opting for digital payments more frequently in the past year, a statistic greater than the global average of 61 per cent, according to Mastercard\u2019s Payment Index 2022.<\/p>\n
Non-cash forms of payment include tappable smartphone mobile wallets, buy-now-pay-later services, biometrics, payment-enabled wearable technology devices, digital cards, open banking, SMS payments<\/a>, instant payment services and digital money transfer applications.<\/p>\n Nineteen per cent of those surveyed reported using cash less frequently, with 85 per cent having made at least one digital and non-cash payment in the past year.<\/p>\n Security was selected as a reason when using digital payments by 41 per cent of consumers, alongside convenience and access to exclusive rewards and promotional deals.<\/p>\n In addition, sustainability, social and environmental advantages are kept top of mind by consumers in the region<\/a>, with\u00a0 31 per cent of respondents citing them as reasons for making non-cash purchases.<\/p>\n