UAE consumers go cashless as trust in digital payments surges

UAE consumers go cashless as trust in digital payments surges

Some game-changing shifts on payment behaviour in the UAE since the Covid-19 outbreak are expected to be the "new normal" as more consumers gain confidence in digital payments, according to the findings of a survey.. The survey released by Dubai Police, Dubai Economy, and digital payments platform Visa said while 71 per cent of consumers reported increased use of digital payments when shopping in-store, one in two consumers (49 per cent) shop more online with 61 per cent of them using cards and digital wallets to pay instead of 'cash on delivery' (COD) in the wake of the pandemic.. The survey, which also looks at consumers' general views, preferences and concerns related to digital payments, found that 68 per cent of respondents have reduced shopping in-store since the outbreak of the pandemic. ". Forty-three per cent of consumers surveyed believe they will continue to use contactless payments in-store post the pandemic and 48 per cent said they will continue to opt more for paying online with card or digital wallet over COD.A similar study by Mastercard in April showed that UAE consumers are increasingly looking for ways to avoid coming in contact with cash for fear of contracting coronavirus.. Contactless