Impact of COVID-19 on the Online Payment Methods Market in the Middle East & Africa - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Middle East & Africa Online Payment Methods 2020 and COVID-19's Impact" report has been added to ResearchAndMarkets.com's offering.

According to the report, cash on delivery was the leading payment method preferred by online shoppers in Saudi Arabia, Jordan, Egypt, Morocco, Kenya, and other countries in this region, as of 2019. The COVID-19 outbreak in early 2020, however, is changing this perspective, with online shopping platforms and regulators encouraging the use of cashless payment means during the pandemic. Their efforts are already showing results, as close to two-thirds of respondents to an April 2020 survey reported having reduced their use of cash since the outbreak. Mobile money, card, and contactless payments are among the payment methods that are benefitting from consumers turning their backs on cash.

Fintechs are booming in the region

Africa and Middle East's FinTech companies are contributing to the rise of digital payments across the region, with the help of millions of dollars raised during 2019, as the report shows. Some of the stars of the investment rounds include Interswitch and Opay in Nigeria, Tala in Kenya, and Dubai-based Network International which listed its shares on the London Stock Exchange at the beginning of 2019. Furthermore, Kenya's mobile money service M-Pesa is making a major contribution to the development of mobile payment transactions during the COVID-19 outbreak.

Report Coverage

• This report covers the online payment market in the Middle East & Africa. It takes into account a wide definition of online payment, including payment methods used in online shopping and mobile payment, such as remote and proximity payments. In addition, information related to the impact of the coronavirus (COVID19) on digital payments in the Middle East, Africa, and worldwide was included in this report.
• The report includes data mostly published in the previous 12 months. The exact date of publication of the source is stated on each chart. The time period which the data refers to differs by source.
  

Key Topics Covered:

1. Management Summary

2. Global Developments

• COVID-19 Impact on Online & Mobile Payment, May 2020
• The Impact of COVID-19 on Payments Revenues, incl. Payments Revenues in 2019, Pre-COVID-19 Forecast, and Payments Revenues Forecast Under The Impact of COVID-19, in USD billion, 2020
• Post-COVID-19 Forecast for Digital Commerce & Payments Spending, in USD trillion, 2020f & 2021f Compared to 2019
• Share of Respondents Who View Contactless as a Cleaner Way to Pay, in %, April 2020
• Payment Methods Most Used When Shopping Online During The Pandemic, in % of Online Shoppers, by Selected Countries, April 2020
• Payment Methods Used For the First Time When Shopping Online During The Pandemic, in % of Online Shoppers, by Selected Countries, April 2020
• Criteria for Choosing a Payment Method in Online Shopping Which Became More Important Since The Pandemic Outbreak, in % of Online Shoppers, by Selected Countries, April 2020
• Online & Mobile Payment Platform Revenues, in USD billion, 2019e & 2024f
• Mobile & Online Remote Payment Value, in USD billion, by Selected Regions, 2024f
• Mobile & Online Remote Payment Value, in USD billion, by Digital and Physical Goods, 2024f
• Payment Methods Preferred in E-Commerce, in % of Online Shoppers, by Selected Regions, January 2019
• Share of Online Shoppers Who Had Abandoned a Shopping Cart Due to Their Preferred Payment Method Not Being Offered, in %, January 2019
• Share of Mobile Shoppers Who Had Abandoned a Shopping Cart Due to Their Preferred Payment Method Not Being Offered, in %, August 2019
• Online Payment Fraud Losses, in USD million, by Segment, 2023f
• Online Payment Fraud Prevention Software Spending, in USD billion, 2020f & 2024f
• Number of Digital Wallet Users, in billions, 2019e & 2024f
• Breakdown of Digital Wallets by Provider's Main Industry, in %, 2019
• Proximity Mobile Payment Users, in billions, and Penetration, in % of Smartphone Users, 2018 - 2023f
• Value of Mobile Payment Transactions Authenticated via Biometrics, in USD billion, 2019e & 2024f
• Overview of Mobile Money Statistics, incl. Number of Live Services, Registered Accounts, in millions, Active Accounts, in millions, Transaction Volume in millions, and Transaction Value, in USD billion, and Year-on-Year Growth, in %, by Region, 2019

3. Middle East & Africa

3.1. Regional

4. Middle East

4.1. UAE

4.2. Saudi Arabia

4.3. Israel

4.4. Jordan

4.5. Oman

5. Africa

5.1. South Africa

5.2. Egypt

5.3. Nigeria

5.4. Morocco

5.5. Kenya

5.6. Tunisia

Companies Mentioned

• Interswitch Ltd
• Jumia Technologies AG
• Network International Holdings Plc
• Noon AD Holdings
• Opay
• PalmPay Technology Co Ltd
• Paytabs
• Safaricom Plc
• Visa Inc
  

For more information about this report visit https://www.researchandmarkets.com/r/iquyqq