UAE payments industry revenue set to reach $18.7bn by 2031, BCG says – The National
- Date: 19-Oct-2022
- Source: The National
- Sector:Financial Services
- Country:UAE
UAE payments industry revenue set to reach $18.7bn by 2031, BCG says – The National
Payments industry revenue in the UAE is expected to grow to $18.7 billion by 2031, driven by the young and tech-savvy population in the Arab world’s second-largest economy, according to a new report by the Boston Consulting Group.
Revenues are expected to grow at a compound annual rate of 7.7 per cent between 2021 and 2031, BCG said in its Global Payments 2022: The New Growth Game report on Tuesday.
Revenues from credit cards, debit cards and current accounts, in particular, will drive the industry’s growth over the 10-year period.
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