The latest indicators show that the Middle East is rapidly moving towards becoming a leading global hub for real-time digital payments, which is sweeping the world with its popularity, thanks to the interest of the region's governments in adapting digitization in the trade sector.
A report released by critical real-time payments software company ICI Worldwide in collaboration with data and analytics firm Global Data revealed that Saudi Arabia and Bahrain are the two leading markets in this field.
The region is one of the fastest-growing real-time payments markets globally, with transactions expected to increase from $675 million in 2022 to $2.6 billion by 2027, representing a compound annual growth rate of 30.6 percent.
Source (Al-Arab London Newspaper, Edited)
