Regional payment gateway Payfort has released its latest infographic providing an overview of the core markets in Egypt, KSA, Kuwait and the UAE. It includes insight into consumer behavior, the travel market and what we can expect in years to come. You can also read the full report here.
According to recent reports, the United Arab Emirates (UAE) has the fastest growth rate in the e-commerce sector. The volume for e-commerce is forecasted to reach $10 billion per year by 2018, an increase from $2.5 billion per year currently.
Interestingly, the MENA region is outshining and is ahead of the hitherto fastest growing market, Asia-Pacific. While men are the main driving force, making almost 71% of the payments (markets of Kuwait, UAE, Saudi Arabia and Egypt). Women, are yet to catch up at 28%.