Top 5 Payment Providers Offered by UAE Online Stores 2023

What are the Top 5 Payment Providers with the Highest Penetration in the UAE eCommerce Market by 2023?

In the UAE eCommerce landscape of 2023, payment provider penetration (percentage of stores offering the provider among available payment methods) showcases a clear dominance of traditional card services. VISA and Mastercard lead the pack with impressive penetration rates of 96.0% each, highlighting the widespread trust and acceptance of these global card providers within the UAE market. Cash on delivery also holds a significant presence with a penetration rate of 69.7%, indicating a preference for this traditional payment method among UAE consumers. American Express follows with a penetration rate of 49.5%, showing a notable but slightly lower presence in the market. In contrast, PayPal represents the e-wallet sector with a penetration of 38.4%, reflecting the growing trend towards mobile-driven financial transactions in the UAE. The data from 2023 underscores the evolving digital payment landscape in the UAE, with traditional card providers maintaining their dominance while newer digital methods like e-wallets are steadily gaining ground, driven by consumer demand for convenience and innovation in payment technologies.

Main Facts: Dominant Payment Providers in UAE's eCommerce Market 2023

• VISA and Mastercard dominate the UAE eCommerce market with a penetration rate of 96.0% each in 2023.
• Cash on delivery remains a popular payment method with a penetration rate of 69.7%.
• American Express follows closely behind with a penetration rate of 49.5%, while PayPal leads e-wallet options with a penetration rate of 38.4%.