05-Apr-18, Fintech Finance 

In the Middle East, opportunities for innovation in payments are plentiful. More than 80% of brick-and-mortar retail payments and 65% of e-commerce payments are still made in cash, and smartphone adoption exceeds 100% in several countries, according to research and advisory firm Global Growth Markets.

Digital payments set to challenge e commerce status quo in the Middle East (c) Global Growth Markets

Pairing those facts with the socio-economic and demographic realities of the region – household incomes above the global average and the share of young people the highest on the globe – suggests all the makings of an ideal environment for safe, secure and convenient alternative payments.

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