25-Feb-18, Global Growth Markets
Global Growth Markets head of Financial & Business Services Tom MacDonald has been invited to speak about e-commerce payments in the Middle East, with a focus on the United Arab Emirates, at the Arabnet Digital Summit 'Money Forum' event in Dubai on 30-Apr-18. Tom will speak on the subject of "From Dubai outward - how digital payments and alternatives to cash are growing UAE e-commerce", placing UAE and GCC e-commerce in the global context, and explaining the evolution of digital payment methods in the UAE, how consumers choose to pay for online goods and best practices for payment providers in the region.
Tom MacDonald, Financial Services practice head, Global Growth Markets
UAE and GCC e-commerce in the global context
Tom will present original market data and insights from GGM's 2018 E-commerce & Payments market intelligence service, which covers all the world's growth regions with a consistent research and analysis approach. Data will include the size and growth of Middle East and Africa e-commerce markets compared with other world regions, covering retail, travel and transport, and digital goods and services.
Increasing market access
Thanks to innovative payment methods capturing unconnected areas, previously latent demand for e-commerce is coming on stream rapidly. This even includes sections of the unbanked population who are now able to buy online thanks to COD or BOPIS (buy-online-pickup-in-store) payment solutions.
Evolution of digital payment methods
While digital payment growth is ubiquitous globally, cash is entrenched in many developing markets as a payment method for online goods. However, even as some e-commerce companies tap into the potential for cash spending, progress is also being made with alternative payment methods to wean more traditional markets away from from cash.
How UAE consumers choose to pay
Amid challenges presented by various market barriers including cost of delivery, physical access, trust issues and others, understanding how UAE consumers view e-commerce and how they choose to pay for online goods is a critical element in any successful market strategy.
The presentation will conclude with a summary of best practices for payment providers and related companies operating in or planning to penetrate the UAE and other MENA e-commerce markets. Each market is a unique combination of local and cross-border demand characteristics, international and home-grown payment platforms, and consumer psychology, requiring its own tailored approach.
GGM can help with international e-commerce and payments market opportunity assessment, strategic planning, market research and partnering - in the Middle East, Africa, Asia and other global growth markets. Visit the Financial Services practice or Contact us to find out more.