Over half of UAE population using digital wallets: Survey

Over half of UAE population using digital wallets: Survey

A new survey by leading Mena payments solutions provider, Checkout.com, has found over half of the UAE population are using digital wallets for the first time. The survey reveals that security remains the most important factor for UAE residents when shopping online – with nearly 40 per cent of respondents trusting digital wallets as much as banks. Indeed, the future bodes well for digital wallets, with 48 per cent of respondents believing that digital wallets could lead to a cashless society in a decade.

Mo Ali Yusuf, regional manager for MENAP at Checkout.com, said, “With more and more people embracing the convenience of digital wallets coupled with the reassurance of their transactions being safe and secure, digitisation of the payment system is unstoppable. The findings reveal an undeniable trend towards digital wallets becoming the future of consumer payments.”

The survey sought to discover the growth in digital wallet usage among UAE residents as online payments surge. The Checkout.com MENAP Payments Report of 2021 revealed that approximately 83 per cent of UAE residents would maintain or even increase their current level of eCommerce spending into 2022.

The pulse survey of over 1,000 UAE consumers found cash usage continues to decline, with only 20 per