UAE Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The United Arab Emirates Payment Market is Segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), and by End-user Industries (Retail, Entertainment, Healthcare, Hospitality).

UAE Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

UAE Payments Market Size

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United Arab Emirates Payment Market
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 13.67 %
Market Concentration Medium

Major Players

United Arab Emirates Payment Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of United Arab Emirates Payment Market with other markets in Technology, Media and Telecom Industry

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UAE Payments Market Analysis

The United Arab Emirates Payment Market is expected to register a CAGR of 13.67% during the forecast period.

  • The customers in the United Arab Emirates (UAE) are dependent on cash payments as they believe that cash is a safer and quick payment option. However, card and internet-related payments are increasing, supported by government financial inclusion programs, the adoption of Europay, MasterCard, and Visa (EMV), promotional campaigns by financial institutions, and contactless technology.
  • The Covid-19 pandemic, along with the strict government regulations for the shutdown of physical stores and cashless payment, has reinforced major market players to shift to online stores and payment systems. The transition of switching from physical stores to online shopping has created opportunities for payment players in the United Arab Emirates.
  • The government of the UAE is also taking several steps in order to boost its payment systems. For instance, The Ministry of Finance (MoF) has developed a Strategic Plan for 2017-2021. The strategy also includes the development and improvement of relations with international financial organizations and institutions. Such strategies will help the country in enhancing its payment systems.
  • Moreover, In February 2022, the Central Bank of the UAE (CBUAE) selected Accenture to head up a consortium to support and develop a national payments infrastructure in the United Arab Emirates that will allow next-generation payments. In collaboration with SIA, now part of Nexi Group, and G42, Accenture will build and operate the National Instant Payment Platform (IPP) over the next five years.
  • According to the findings of a Visa Stay Secure consumer survey conducted in June 2020 in collaboration with Dubai Economy and Dubai Police, 49% of UAE consumers surveyed have increased their online shopping as a result of the pandemic, with three out of five (61 percent) now using cards or digital wallets to make online payments rather than opting for cash on delivery. The main reasons for their growing preference for online payments were improved faith in the safety, speed, and convenience of contactless payments.

UAE Payments Industry Overview

The United Arab Emirates payments market is competitive and fragmented with the presence of significant market players such as Telr Pte Ltd., Cashu FZ LLC, MasterCard Inc, Visa Inc., and American Express Co. The companies are introducing new services and continuously investing in making partnerships and acquisitions along with product development to increase the market share.

  • In November 2021 -Telr announced that the company had raised USD 15 million from the India-based Merchant payments platform, Cashfree. This strategic investment in Telr will allow the company to introduce its offerings in the MENA region, utilizing Telr's strong presence and payment infrastructure.
  • In February 2022, Network International partnered with Amazon Payment Services to provide online payment solutions to merchants in the United Arab Emirates. Network International helps enable digital commerce in the Middle East and Africa. The firms are collaborating to provide merchants with Amazon Payment Services' gateway and services, which include EPP and increased fraud monitoring, according to a news statement.

UAE Payments Market Leaders

  1. Telr Pte Ltd.

  2. Cashu FZ LLC

  3. Checkout Ltd

  4. Amazon Payments, Inc.

  5. 2Checkout.com, Inc.

  6. *Disclaimer: Major Players sorted in no particular order
United Arab Emirates Payment Market - Market Concentration.png
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UAE Payments Market News

  • In May 2022 - Nayax Ltd, a commerce enablement and payments platform, announced a partnership with Network International, the provider of digital commerce across the Middle-East and Africa (MEA). This partnership will help the company to expand its business and customer base in the MEA region.
  • In February 2022 - Apple Inc, has announced its plan to soon introduce its store in Al Maryah Island, Abu Dhabi, making it the tech company's fourth outlet in the UAE market. This store will strengthen the footprint of the company in the UAE and will, in turn, derive the payment market in the country.

UAE Payments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definitions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Stakeholder Analysis
  • 4.3 Industry Attractiveness-Porter's Five Force Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Evolution of the payments landscape in the country
  • 4.5 Key market trends pertaining to the growth of cashless transaction in the country
  • 4.6 Impact of COVID-19 on the payments market in the country

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 High Proliferation of E-commerce, including the rise of m-commerce and cross-border e-commerce supported by the increase in purchasing power
    • 5.1.2 Enablement Programs by Key Retailers and Government encouraging digitization of the market
    • 5.1.3 Growth of Real-time Payments, especially Buy Now Pay Later in the country
  • 5.2 Market Challenges
    • 5.2.1 Lack of a standard legislative policy remains especially in the case of cross-border transactions
  • 5.3 Market Opportunities
    • 5.3.1 Move towards Cashless Society
    • 5.3.2 New Entrants to Drive Innovation Leading to Higher Adoption
  • 5.4 Key Regulations and Standards in the Digital Payments Industry
  • 5.5 Analysis of major case studies and use-cases
  • 5.6 Analysis of key demographic trends and patterns related to payments industry in the United Arab Emirates (Coverage to include Population, Internet Penetration, Banking Penetration/Unbanking Population, Age & Income etc.)
  • 5.7 Analysis of the increasing emphasis on customer satisfaction and convergence of global trends in the United Arab Emirates
  • 5.8 Analysis of cash displacement and rise of contactless payment modes in the United Arab Emirates

6. Market Segmentation

  • 6.1 By Mode of Payment
    • 6.1.1 Point of Sale
    • 6.1.1.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
    • 6.1.1.2 Digital Wallet (includes Mobile Wallets)
    • 6.1.1.3 Cash
    • 6.1.1.4 Others
    • 6.1.2 Online Sale
    • 6.1.2.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
    • 6.1.2.2 Digital Wallet (includes Mobile Wallets)
    • 6.1.2.3 Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
  • 6.2 By End-user Industry
    • 6.2.1 Retail
    • 6.2.2 Entertainment
    • 6.2.3 Healthcare
    • 6.2.4 Hospitality
    • 6.2.5 Other End-user Industries

7. Competitive Landscape

  • 7.1 Company Profiles
    • 7.1.1 Telr Pte Ltd
    • 7.1.2 Cashu FZ LLC
    • 7.1.3 Checkout Ltd
    • 7.1.4 Amazon Payments Inc.
    • 7.1.5 2Checkout.com Inc.
    • 7.1.6 Infibeam Avenues Limited (CC Avenues)
    • 7.1.7 PayTabs LLC
    • 7.1.8 PayCaps.in
    • 7.1.9 HyperPay Inc.
    • 7.1.10 Stripe Inc.
  • *List Not Exhaustive

8. Investment Analysis

9. Future Outlook of the Market

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UAE Payments Industry Segmentation

Payment is the transfer of money and goods in exchange for goods and services that the involved parties agree upon. Payment can be made in the form of services exchanged, cash, wire transfer, cheque, credit card, and debit card.

The United Arab Emirates Payment Market is Segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), and by End-user Industries (Retail, Entertainment, Healthcare, Hospitality). The report covers the trends of payments in the United Arab Emirates along with the factors impacting the studied market growth.

By Mode of Payment Point of Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Cash
Others
Online Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
By End-user Industry Retail
Entertainment
Healthcare
Hospitality
Other End-user Industries
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UAE Payments Market Research FAQs

What is the current United Arab Emirates Payment Market size?

The United Arab Emirates Payment Market is projected to register a CAGR of 13.67% during the forecast period (2025-2030)

Who are the key players in United Arab Emirates Payment Market?

Telr Pte Ltd., Cashu FZ LLC, Checkout Ltd, Amazon Payments, Inc. and 2Checkout.com, Inc. are the major companies operating in the United Arab Emirates Payment Market.

What years does this United Arab Emirates Payment Market cover?

The report covers the United Arab Emirates Payment Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the United Arab Emirates Payment Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

UAE Payments Industry Report

The United Arab Emirates (UAE) payment market is undergoing significant growth, driven by rapid digital adoption and a shift towards innovative payment solutions such as blockchain and digital wallets. According to the United Arab Emirates Cards Market Report, there is a rising consumer preference for digital and contactless payments, spurred by high smartphone penetration, a tech-savvy population, and robust government support for digital initiatives. The market features a mix of traditional financial institutions and fintech startups, creating a competitive landscape that fosters continuous innovation. Key regions like Dubai and Abu Dhabi lead in digital payment infrastructure, supporting the market's expansion. This growth is further detailed in Mordor Intelligence™ Industry Reports, which provide statistics on market share, size, and revenue growth rate, along with a market forecast outlook and historical overview. For a deeper insight, you can download a free report PDF sample.

UAE Payments Market Report Snapshots