Mastercard’s Payment Index Shows 95% Of MENA Consumers Want To Try New Digital Payment Methods

Mastercard’s Payment Index Shows 95% Of MENA Consumers Want To Try New Digital Payment Methods

The Mastercard New Payments Index shows 95% of Middle East and North Africa (MENA) consumers will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year. Over two-thirds of respondents (65%) agree they have tried a new payment method they would not have tried under normal circumstances, but the pandemic has galvanised people to try flexible new payment options to get what they want, when they want it. With this interest and consumer demand also comes a greater expectation for businesses to provide multiple ways to shop and pay. In fact, 61% of MENA consumers say they would avoid businesses that do not accept electronic payments of any kind. Additionally, nearly 3 out of 4 (73%) UAE consumers say that digital payment methods help them save money. “The pandemic made us think differently, partly out of necessity,” said Craig Vosburg , Chief Product Officer at Mastercard. “To deliver the choice and flexibility that consumers need – and increasingly expect –retailers worldwide need to offer a range of payment solutions that are easy to access and always on. As we look ahead, we need to continue to enable all choices, both