How big is the MENA Digital Payments Market?

The MENA Digital Payments Market size is expected to reach USD 226.53 billion in 2024 and grow at a CAGR of 10.95% to reach USD 380.86 billion by 2029. Read More

What is the current MENA Digital Payments Market size?

In 2024, the MENA Digital Payments Market size is expected to reach USD 226.53 billion. Read More

Who are the key players in MENA Digital Payments Market?

Paypal Holdings Inc., Samsung Corporation, ACI Worldwide Inc., CIB Bank and Alphabet Inc. (Google Pay) are the major companies operating in the MENA Digital Payments Market. Read More

What years does this MENA Digital Payments Market cover, and what was the market size in 2023?

In 2023, the MENA Digital Payments Market size was estimated at USD 201.72 billion. The report covers the MENA Digital Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the MENA Digital Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key challenges faced by the MENA Digital Payments Market?

Major challenges faced by the MENA Digital Payments Industry are a) Cybersecurity threats b) Regulatory compliance c) Need for financial literacy Read More

What are the key challenges faced by the MENA Digital Payments Market?

Major challenges faced by the MENA Digital Payments Industry are a) Cybersecurity threats b) Regulatory compliance c) Need for financial literacy Read More

MENA Digital Payments Market Share

Statistics for the 2023 & 2024 MENA Digital Payments market share, created by Mordor Intelligence™ Industry Reports. MENA Digital Payments share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of MENA Digital Payments Industry

The Middle East and North African digital payments market is moderately concentrated and dominated by a few major players like Paypal Holdings Inc., Alphabet Inc., ACI Worldwide Inc., Samsung Electronics Inc., and CIB Bank. These significant firms, holding a sizable market share, are concentrating on growing their international consumer base. These businesses are utilizing strategic collaboration projects to expand their market share and profitability. Mid-size and smaller businesses are, however, expanding their market presence by gaining new contracts and tapping into new markets due to technical improvements and product innovations.

May 2024: Access Bank Group, a multinational bank, partnered with payments giant Mastercard to introduce an innovative solution. This collaboration aims to enhance access to cross-border payments and remittances involving the African continent. Leveraging the Mastercard Move Partner Programme's network and treasury capabilities, which is a global community of technology innovators focused on digital payments, Access Bank's initiative, Access Africa, seeks to provide individuals and businesses with instant, traceable, seamless, and cost-effective international transactions.
January 2024: Paymob, a financial services enabler operating in the Middle East, North Africa, and Pakistan (MENA-P), partnered with Mastercard to boost digital payment acceptance in MENA countries. This strategic collaboration capitalizes on Paymob's robust payments infrastructure and Mastercard's cutting-edge technology. Together, they aim to promote affordable solutions for micro, small, and medium-sized enterprises (MSMEs) in pivotal markets. The partnership's highlights include accelerating the adoption of Tap on Phone, enhancing the e-commerce gateway, and introducing payment link solutions.