Middle East & Africa Online Payment Methods 2020 and COVID-19's Impact

Middle East & Africa Online Payment Methods 2020 and COVID-19's Impact

Transformation of the Middle East and Africa’s E-Payments Market During COVID-19

The outbreak undermines the preference for cash on delivery in the Middle East and Africa

According to the yStats.com report, cash on delivery was the leading payment method preferred by online shoppers in Saudi Arabia, Jordan, Egypt, Morocco, Kenya, and other countries in this region, as of 2019. The COVID-19 outbreak in early 2020, however, is changing this perspective, with online shopping platforms and regulators encouraging the use of cashless payment means during the pandemic. Their efforts are already showing results, as close to two-thirds of respondents to an April 2020 survey reported having reduced their use of cash since the outbreak. Mobile money, card and contactless payments are among the payment methods that are benefitting from consumers turning their backs on cash.

Fintechs are booming in the region

Africa and Middle East’s FinTech companies are contributing to the rise of digital payments across the region, with the help of millions of dollars raised during 2019, as the yStats.com report shows. Some of the stars of the investment rounds include Interswitch and Opay in Nigeria, Tala in Kenya and Dubai-based Network International which listed its shares on London Stock Exchange at the beginning of 2019. Furthermore, Kenya’s mobile money service M-Pesa is making a major contribution to the development of mobile payment transactions during the COVID-19 outbreak.


1. Management Summary
2. Global Developments
COVID-19 Impact on Online & Mobile Payment, May 2020
The Impact of COVID-19 on Payments Revenues, incl. Payments Revenues in 2019, Pre-COVID-19 Forecast, and Payments Revenues Forecast Under The Impact of COVID-19, in USD billion, 2020
Post-COVID-19 Forecast for Digital Commerce & Payments Spending, in USD trillion, 2020f & 2021f Compared to 2019
Share of Respondents Who View Contactless as a Cleaner Way to Pay, in %, April 2020
Payment Methods Most Used When Shopping Online During The Pandemic, in % of Online Shoppers, by Selected Countries, April 2020
Payment Methods Used For the First Time When Shopping Online During The Pandemic, in % of Online Shoppers, by Selected Countries, April 2020
Criteria for Choosing a Payment Method in Online Shopping Which Became More Important Since The Pandemic Outbreak, in % of Online Shoppers, by Selected Countries, April 2020
Online & Mobile Payment Platform Revenues, in USD billion, 2019e & 2024f
Mobile & Online Remote Payment Value, in USD billion, by Selected Regions, 2024f
Mobile & Online Remote Payment Value, in USD billion, by Digital and Physical Goods, 2024f
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, by Selected Regions, January 2019
Share of Online Shoppers Who Had Abandoned a Shopping Cart Due to Their Preferred Payment Method Not Being Offered, in %, January 2019
Share of Mobile Shoppers Who Had Abandoned a Shopping Cart Due to Their Preferred Payment Method Not Being Offered, in %, August 2019
Online Payment Fraud Losses, in USD million, by Segment, 2023f
Online Payment Fraud Prevention Software Spending, in USD billion, 2020f & 2024f
Number of Digital Wallet Users, in billions, 2019e & 2024f
Breakdown of Digital Wallets by Provider’s Main Industry, in %, 2019
Proximity Mobile Payment Users, in billions, and Penetration, in % of Smartphone Users, 2018 - 2023f
Value of Mobile Payment Transactions Authenticated via Biometrics, in USD billion, 2019e & 2024f
Overview of Mobile Money Statistics, incl. Number of Live Services, Registered Accounts, in millions, Active Accounts, in millions, Transaction Volume in millions, and Transaction Value, in USD billion, and Year-on-Year Growth, in %, by Region, 2019
3. Middle East & Africa
3.1. Regional
COVID-19 Impact on Online & Mobile Payment, May 2020
Attitudes to Contactless Payments During COVID-19 Outbreak, in % of Consumers, April 2020
Share of Adults Who Shopped for Products on New E-Commerce Websites Since COVID-19 Started, by Basics and Non-Basics, by Selected Countries, in %, April 2020
Share of Internet Users Who Have Food or Groceries Delivered to Their Homes More Frequently Due to COVID-19 Outbreak, by Selected Countries in MENA, March 2020
Share of Retail Banking Executives Who Believe That Cash Will Account for Less Than 5% of Transactions by 2025, in %, 2019
Top Factors Would Encourage Non-Online Shoppers to Purchase Online, in % of Non-Online Shoppers, 2019
Overview of Mobile Money Statistics in Africa, incl. Number of Live Services, Registered Accounts, in millions, Active Accounts, in millions, Transaction Volume in millions, and Transaction Value, in USD billion, and Year-on-Year Growth, in %, by Sub-Region, 2019
Number and Value of Transactions Processed by Network International Holdings, in millions and in USD billion, and Total Revenues, in USD million, 2016 - 2019
Overview of Selected Leading FinTech Startups in the Payments Sector in MENA, incl. Company Name, Solution, Funding, Country and Year Established, September 2019
Total Investment Raised by African FinTechs, in USD million, 2018 & 2019
Overview of Selected Major FinTech Funding Rounds in Africa, by Country, 2019
4. Middle East
4.1. UAE
E-Commerce Payments Value, in AED billion, 2017-2022f
Breakdown of E-Commerce Transactions by Payment Methods, in %, August 2019
Breakdown of Preferred Payment Authentication Measures When Shopping Online, in %, February 2019
Digital Wallet Awareness, Ownership & Usage, in % of Online Payment Users, February 2019
Security Concerns Regarding Digital Wallets, in % of Online Payment Users, February 2019
Share of Online Shoppers Who Prefer Cash on Delivery, But Would Pay by Card of a mPOS Machine Was Available Upon Delivery, in %, February 2019
Attitudes to Contactless Payments During COVID-19 Outbreak, in %, April 2020
4.2. Saudi Arabia
Breakdown of E-Commerce Transactions by Payment Methods, in %, August 2019
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2019
Payment Methods Used in E-Commerce, in % of Online Shoppers, by Gender, 2019
Payment Methods Used in E-Commerce, in % of Online Shoppers, by Saudi and Non-Saudi and by Gender, 2019
4.3. Israel
Breakdown of E-Commerce Transactions by Payment Methods, in %, August 2019
Share of Respondents Who Are Using Less Cash Since Adopting Mobile Payment Apps, in %, 2019
Products and Services Paid for via Mobile Apps, in % of Respondents, 2018 & 2019
4.4. Jordan
Share of Online Shoppers Paying by Cash on Delivery, in %, H2 2019
Mobile Payment Transaction Value, in JOD million, and Number of Transactions, in thousands, January 2019 - December 2019
Breakdown of Mobile Payment Transactions by Type, by Number and Value, in %, December 2019
4.5. Oman
Share of Online Shoppers Paying Online For Their E-Commerce Purchases, in %, 2019
5. Africa
5.1. South Africa
Breakdown of E-Commerce Transactions by Payment Methods, in %, August 2019
Breakdown of Payment Methods Used in E-Commerce, in % of Online Shoppers, March 2020
Payment Methods Preferred in E-Commerce, in % of Internet Users, July 2019
5.2. Egypt
Breakdown of E-Commerce Transactions by Payment Methods, in %, August 2019
Share of Online Shoppers Paying Online For Their E-Commerce Purchases, in %, 2019
Number of Meeza Cards Issued, in millions, July 2019, September 2019 & December 2019
Number of Mobile Wallet Accounts, in millions, Year-On-Year Growth Rate, in %, Unique Users, in millions, and Breakdown of Users by Gender and Age Group, in %, February 2019
5.3. Nigeria
Breakdown of E-Commerce Transactions by Payment Methods, in %, August 2019
Electronic Payment Transactions, incl. Number, in millions, and Value, in NGN billion, by Type, 2019
5.4. Morocco
Breakdown of E-Commerce Transactions by Payment Methods, in %, August 2019
Number of Online Payment Transactions, in millions, and Value, in MAD million, by Transactions with Moroccan Cards, Foreign Cards and Total, 2016 – 2019
5.5. Kenya
Breakdown of E-Commerce Transactions by Payment Methods, in %, August 2019
Mobile Payment Statistics, incl. Number of Transactions, in Millions, Value of Transactions, in KES Billion, Number of Accounts, in Millions, and Number of Agents, in Thousands, 2014 – 2019 & Q1 2020
Financial Account Penetration, by Type, in % of Adults, 2019
5.6. Tunisia
Share of Online Shoppers Paying Online For Their E-Commerce Purchases, in %, 2019

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