The UAE is considered one of the fastest-growing eCommerce markets in the Middle East and North Africa (MENA) region. The rise of eCommerce in the UAE is driving economic growth and many experts believe that this growth is partially due to the availability of a secure payment gateway in UAE.
Here are some of the reasons why eCommerce businesses in the UAE are booming and benefitting from a secure payment gateway.
High Digital Penetration
Mobile penetration is extremely high in the UAE. Most users in the country spend several hours each day browsing the internet and social media sites. As the world gets digitally connected, more people are using online shopping sites to buy what they need. Experts believe that in the coming years, online shopping will enjoy a significant growth provided they have dedicated and secure payment gateway in UAE.
Nearly half of the population in the UAE is digital-native millennials and Gen Z. This youthful population is constantly connected and looks for instant gratification. They turn to online shopping to meet their needs quickly and this, in turn, is helping eCommerce thrive and flourish in the UAE.
Easy Access to Mobile Wallets
Dedicated online payment gateways in the UAE have collaborated with international and local mobile wallet players to provide online consumers with more payment options. With deep smartphone penetration, many users enjoy using mobile wallets to pay for their purchases as it is as simple as tapping the phone.
Secure Digital Payment Services
Most online shoppers in the UAE shop on sites that have secure payment gateways. Thankfully, if you do your research, you will not find it difficult to integrate such as gateway with your website. The key is to look for a payment gateway that caters to the UAE and is PCI-DSS compliant, has fraud protection, dual-layer protection and other measures to ensure customers and sellers enjoy a secure environment to buy and sell.
Ability to Go Cashless
While the UAE still has a long way to go before transforming into a completely cashless society, the superior digital infrastructure along with reliable and secure payment gateways are paving a way for this. Usage of card payments is increasing in the country while cash-on-delivery is witnessing a dip.
Just having a user-friendly eCommerce store is not sufficient. Along with a secure payment gateway, an online store also needs to ensure that it can deliver the items to customers in a quick time. Since the UAE is a major distribution hub, it has a superior logistics infrastructure. This makes it easy for online retailers to ensure that they can fulfill the orders quickly and efficiently.
It is essential to balance seamless user experience with security. Thankfully, payment gateway providers are working to make their applications more secure. The best payment gateways utilize fraud protection measures and ensure PCI-DSS compliance and data encryption to maintain optimal security for the buyer and seller.
As more startups venture online to provide products and services, the right payment gateway in UAE has become important for ensuring world-class and superior shopping experience, and this, in turn, is spurring the growth of online businesses.