|Arab and international|
Economy News Baghdad:
Arab countries witnessed a 22 per cent growth in electronic payments over the past year, thanks to strong growth led by Saudi Arabia, which topped the list with 27 per cent, followed by Egypt with 22 per cent, followed by the United Arab Emirates by 21 per cent. Cent.
According to a report issued by the company «Beaufort» PAYFORT , one of the Amazon companies the Amazon , about «electronic payments industry indicators in the Arab world for the year 2017»; came conferences, exhibitions and entertainment industry, concerts and recreational activities, as the most growth in payments electronically, with the growth rate in which sectors 33 per cent in 2016, compared with the previous year.
The total value of goods and services purchased electronically in the seven main Arab countries (Egypt, Saudi Arabia, UAE, Jordan, Kuwait, Lebanon and Qatar) reached $ 30.4 billion last year, compared to $ 24.9 billion in 2015, an increase of 22 percent. The UAE was at the forefront of the region, both in terms of the cash value of electronic purchases and the growth rate of electronic payments, with a total of $ 12.4 billion, an annual increase of 21 per cent, while Saudi Arabia recorded $ 8.3 billion, an annual increase of 27 per cent. It recorded $ 6.2 billion, an annual increase of 22 percent.
The report states that Egypt is at the forefront of the region in terms of growth rate in the field of e-shopping, where the growth rate of electronic payments in this area 32%. While the UAE was the fastest-growing e-payment sector in the entertainment, conference and banqueting sectors, with an annual growth rate of 36 per cent.
According to the report, the option to pay cash on delivery was the most prevalent in Egypt, where the percentage of use in electronic shopping 70%, followed by Lebanon by 60%. The report notes that concerns about ensuring the security of electronic transactions have been at the forefront of consumer adoption.
The report quoted Nardin Abdullah, marketing director of Befort, as saying that despite the huge growth in e-commerce and e-payments across the region, security concerns remain strong among shoppers and consumers. "Although we are now witnessing a strong trend towards electronic payment, consumers are becoming more aware of the risks of electronic fraud and other forms of cybercrime. "Consumers are also increasingly looking for faster and easier ways to complete online shopping and buying."
Pay by phone
The report highlights the growing interest in mobile or mobile payment, with 50 per cent of respondents surveyed in six of the seven countries paying attention to telephone payment applications. In Saudi Arabia, 33 per cent of those polled already use the e-wallet, compared with 27 per cent in Egypt and Lebanon and 25 per cent in Jordan. , 23 per cent in the UAE and 17 per cent in Qatar.
"E-commerce companies in the region should realize that the performance of shopping cart systems and completion pages should be based on the best practices in this area, providing the consumer with the maximum benefit and best purchasing experience," said Omar Sudoudi, CEO of Befort. Especially as the demand for goods and services electronically as well as electronic payment has become part of daily life, and increasingly ».
Saudi Arabia leads the Arab countries in electronic payment by 27%
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