Omani retailers count on digital payments to drive growth: Survey

Omani retailers count on digital payments to drive growth: Survey

Muscat – Visa, a world leader in digital payments, has unveiled the results of an independent study titled ‘Value of Acceptance’, which explores merchants’ attitudes towards digital payments and the impact of digital commerce on small businesses and retailers in Oman. According to the study, 65% of Oman-based retailer merchants claimed increased revenue and higher […]Muscat – Visa, a world leader in digital payments, has unveiled the results of an independent study titled ‘Value of Acceptance’, which explores merchants’ attitudes towards digital payments and the impact of digital commerce on small businesses and retailers in Oman.

According to the study, 65% of Oman-based retailer merchants claimed increased revenue and higher customer footfall from accepting digital payments.

The survey gathered insights from two groups of Oman-based merchants – those who have accepted digital payments for 1-4 years, and retailers who exclusively deal in cash transactions. The top five store types represented in the survey sample include quick service restaurants, mobile shops, cafes, beauty salons/barber shops, and fashion/shoe stores with sizes including nano (two or less employees), micro (3-10 employees) and small (11-49 employees) businesses.

According to the study, digital payments and cash together account for over 95% of payments accepted among surveyed digital payment-accepting