Mastercard New Payments Index: Consumer Appetite in Saudi Arabia for Digital Payments Takes Off
- Date: 06-May-2021
- Source: Eye of Riyadh
- Sector:Financial Services
- Country:Saudi Arabia
Mastercard New Payments Index: Consumer Appetite in Saudi Arabia for Digital Payments Takes Off
As the world went into pandemic lockdown in 2020, consumers shifted their spending habits to embrace contactless tap-and-go payments and online shopping. As stores closed and social distancing took hold, retailers worldwide moved their businesses online, embraced e-commerce and explored the potential of new ways to pay. More than a year later, research from Mastercard shows that the adoption of new payment technologies is rising, and consumer appetite for new, fast, and flexible digital experiences continues to grow.
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The Mastercard New Payments Index shows 94% of consumers in Saudi Arabia will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year.