Middle East & Africa Online Payment Methods: Full Year 2017 code:1381

Middle East & Africa Online Payment Methods: Full Year 2017
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Bahrain, Egypt, Iran, Israel, Kenya, Kuwait, Lebanon, Nigeria, Qatar, Saudi Arabia, UAE
Pages: 71
Publication Date: 17/07/2018
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Questions Covered in the report:
  • Which payment methods are preferred by online shoppers across the Middle East and Africa?
  • How are mobile payments developing in this region?
  • What percentage of online shoppers in the countries of the Middle East prefer cash on delivery?
  • Which barriers prevent consumers in this region from using online payments?
  • What are the major trends in digital payments in this region and worldwide?

Key Findings:

Lack of trust hampers online payment adoption in the Middle East and Africa

On the global average, credit cards and electronic wallets like PayPal and Alipay are the leading payment methods used by online shoppers, according to the findings in the yStats.com’s report. However, in most countries in the Middle East and selected African markets, cash on delivery prevails as the favorite payment method used in E-Commerce. In addition to lower penetration of formal financial services than in regions such as North America and Europe, another factor that hinders a wider adoption of online payment methods is lack of trust in their security.
A double-digit percentage share of respondents in the Middle Eastern countries stated not being comfortable making payments online, a recent survey cited in the yStats.com report shows. As a result, a major share of online shoppers in countries such as the UAE, Saudi Arabia, Kuwait and Lebanon prefer cash over all other payment methods in E-Commerce. Consumers in Israel perceive lack of payment security as one of the disadvantages of buying online and shoppers in the UAE believe that store-based retailers are more likely to use payment security tools for fraud prevention than their online rivals.
Among African markets, the payment method preference is more diverse. Online shoppers in South Africa pay more by credit and debit card than by other means, although non-online shoppers name lack of trust in online payments as the second most important barrier to digital purchase. Egypt’s consumers choose cash on delivery over credit card when placing orders on the Internet, as do online shoppers in Kenya. However, the latter market also demonstrates rapid adoption of mobile payment solutions, with M-Pesa becoming the second most popular payment method in E-Commerce. Overall, mobile payment user penetration is on the rise among Internet users in the Middle East and Africa, having gained several percentage points between 2015 and 2017, according to a survey cited in the yStats.com report.

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1. Management Summary

2. Global Developments

  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, Q1 2017
  • Card Spending, in USD trillion, and Breakdown by POS and E-Commerce, in %, 2015 & 2021f
  • Breakdown of E-Commerce Sales by Payment Methods, in %, 2021f
  • Top Two Payment Methods Preferred in Cross-Border Online Shopping, in % of Cross-Border Online Shoppers, 2016 & 2017
  • Reasons For Not Shopping Online, incl. Payment-Related, in % of Internet Users Who Do Not Shop Online, Q1 2017
  • FinTech Adoption Rate, in % of Internet Users, by Selected Countries, 2017
  • Most Used FinTech Services According to Internet Users, in %, 2017
  • Most Relevant Emerging Technologies for Large FinTech and Financial Companies to Invest In, in % of Respondents in Each Group, April 2017
  • Entities Expected to Be The Most Disruptive in FinTech in the Next Five Years According to Financial Services and FinTech Executives, in %, 2017
  • Top 10 VC-Backed FinTech Unicorns by Valuation, in USD billion, Q3 2017
  • Expected Annual ROI According to Financial Services and FinTech Executives, in %, 2017
  • Mobile Payment User Penetration, in % of Internet Users, by Regions, Q4 2015 & Q2 2017
  • Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, by Selected Countries, Q1 2017
  • Penetration of Bank Account Holders Willing to Share Personal Financial Data with Third-Party Providers to Use Their Services, in %, by Selected Countries, August 2017
  • Breakdown of the Number of Transactions/Purchases by Payment Methods, in %, as Perceived by Businesses and by Consumers, 2016
  • Factors Most Important to Consumers in Deciding to Use Mobile Payments, in %, 2016
  • Share of Internet Users Who Believe That Mobile Payment is Not Secure, in %, October 2016
  • Mobile Payment Security Features Demanded by Consumers and Implemented by Businesses, in %, 2016
  • Attitudes Towards Mobile Payment and Mobile Money, in % of Consumers, by Developed and Developing Markets, 2016
  • Contactless Payment Transaction Value, in USD billion, 2017e & 2019f
  • Number of Contactless Payment Users of Apple Pay, Samsung Pay and Android Pay, in millions, 2015 – 2017e
  • Apple Pay User Penetration Compared to Overall Mobile Payment User Penetration, in % of Internet Users, by Penetrated Markets, Q2 2017

3. Middle East

3.1. Regional

  • Breakdown of Payment Methods Preferred in E-Commerce, in % of Online Shoppers in GCC, October 2016
  • Top 3 Barriers to Online Shopping, in % of Local Millennials in the GCC Who Did Not Shop Online, July 2017
  • Number of FinTech Startups in MENA, 2013, 2015 & 2020f
  • Share of Online Shoppers in MENA Who Used Smartphone to Pay for Purchases Online, in %, 2016

3.2. UAE

  • Breakdown of Payment Methods Used in E-Commerce by Cash on Delivery and Credit or Debit Card, in % of Online Shoppers, March 2017
  • Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, 2016
  • Share of Consumers Who Believe That Retailers They Shop at Deploy Payment Security Tools to Prevent Fraud, by Retailers and Online Retailers, in %, 2016

3.3. Saudi Arabia

  • Payment Methods Used in E-Commerce, in % of Online Shoppers, May 2017
  • Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, 2016
  • Breakdown of Payment Methods Most Used in Online Shops According to E-Commerce Merchants, in % of Surveyed E-Commerce Merchants, June 2017
  • Perception of Increase in Credit Card Payments in Online Shops Over the Previous Year According to E-Commerce Merchants, in % of Surveyed E-Commerce Merchants, June 2017
  • Reasons for Not Offering Credit Card Payments in Online Shops, in % of Surveyed E-Commerce Merchants Who Do Not Accept Credit Card Payments in Their Shops, June 2017

3.4. Israel

  • Perceived Disadvantages of Online Shopping, incl. Payment-Related, in % of Internet Users, September 2016
  • Share of Adult Internet Users in Israel Who Use Mobile Wallet Apps to Purchase Goods or Services At Least Once a Month, in %, May 2017

3.5. Iran

  • Market Shares of the Top 3 Online Payment Gateway Operators, in %, December 2016

3.6. Qatar

  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2016

3.7. Kuwait

  • Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, 2016

3.8. Lebanon

  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2016
  • List of Selected Payment Providers, by Category, 2016

3.9. Bahrain

  • Barriers to Shopping Online, incl. Payment-Related, in % of Non-Online Shoppers, 2016

4. Africa

4.1. Regional

  • Number of Registered Mobile Money Accounts in Sub-Saharan Africa, in millions, December 2005 & December 2016

4.2. South Africa

  • Breakdown of Payment Methods Preferred in E-Commerce, in % of Online Shoppers, August 2017
  • Breakdown of Factors that Would Encourage to Shop Online More, incl. Payment-Related, in % of Online Shoppers, August 2017
  • Breakdown of Barriers to E-Commerce, incl. Payment-Related, in % of Internet Users Who Do Not Shop Online, August 2017
  • Breakdown of Types of Purchases for Which Non-Online Shoppers Would be Most Comfortable to Make Their First Online Payment, in % of Internet Users Who Do Not Shop Online, August 2017
  • Share of Online Shoppers Who Believe Their Credentials Are Not Safe When Shopping Online, in %, March 2017

4.3. Egypt

  • Top 3 Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2016

4.4. Nigeria

  • Number and Value of Internet (Web) and Mobile Payment Transactions, in millions and in NGN billion, 2011- 2016 & H1 2017
  • Breakdown of Experience with Mobile Money, in % Adults, 2016
  • Main Purposes of Using Mobile Money Services, in % Mobile Money Users, 2016

4.5. Kenya

  • Breakdown of Payment Methods Preferred in E-Commerce, in % of Online Shoppers, November 2016
  • Mobile Payment Statistics, incl. Number of Transactions, in millions, Value of Transactions, in KES billion, Number of Accounts, in millions, and Number of Agents, in thousands, 2008 – 2017
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  • M-PESA Holding Company Ltd
  • Paypal Inc
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