Lack of confidence in online payment security; research

Seamless Middle East returns 1-2 May 2017 at the Dubai International Convention and Exhibition Centre

Tags: E-commerceEntertainment
  • E-Mail
Lack of confidence in online payment security; research The Arab Federation for e-Commerce revealed last month that the region’s current share of the e-commerce market only represents 1% of the global market.
By  Aasha Bodhani Published  April 30, 2017

Seamless Middle East has revealed that 48% of GCC residents prefer to shop online however lack confidence in online payment security.

Despite the willingness of GCC residents to fully embrace e-commerce, 34% of survey respondents claimed that a lack of confidence in payment security deters them from shopping online. Furthermore 29% of UAE respondents still feel that offline shopping is more secure, with only 31% considering online shopping equally as safe.

Eric Claudel, senior vice president Banking & Payment Solutions for the CISMEA region at Gemalto, commented: "The current and projected growth of e-commerce in the region has facilitated and encouraged accelerated development of digital payment experiences. The demand for optimised payments experience - in terms of speed, convenience and multi-channel accessibility but most importantly in terms of security - is growing at a fast pace."

Joseph Ridley, general manager of Seamless Middle East at Terrapinn, concluded: "E-commerce is a hot topic globally and key players in the industry are showing increased interest in the Middle East - the Souq.com acquisition by Amazon is a prime example.

"Seamless Middle East provides a platform for e-commerce, payments and retail industry professionals to explore the potential of the market through knowledge sharing, as well as showcasing new products and technologies to key stakeholders within the region."

Seamless Middle East returns 1-2 May 2017 at the Dubai International Convention and Exhibition Centre.

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code