A report issued by Statia, one of the largest informational websites in the global market, showed that retail trade, online shopping and e-commerce platforms have achieved successive jumps in the volume of sales and purchases, and is expected to continue to rise, reaching $4.4 trillion by the end of this year.
According to the report, the Corona pandemic encouraged companies and online shopping sites to create innovative and effective technologies and methods in times of crisis, which led to increased polarization by consumers, as it constituted an ideal choice for them in circumstances of the spread of the emerging virus, which in turn led to doubling the business of digital payments, and it is expected according to the report that it continues to rise, reaching $8.26 trillion by 2024.
In this context, Kalika Tripathi, Head of Marketing for Visa International in the Middle East and North Africa, said that "more than 90% of consumers in the UAE will switch to the new store system that contains contactless payment systems, compared to 63% worldwide”, pointing to the "adoption of contactless payment technology after the Corona crisis by consumers and merchants, as we have witnessed a 65% increase in businesses after adopting electronic technologies."
Source (Al Khaleej Newspaper-UAE, Edited)
