48 Days
Source:
البلاد
From electronic payments to cashless economy: how fintech has changed Gulf consumer behavior
Gulf countries are rapidly moving towards adopting cashless payments, with dependence on cash dropping to below 20% in some nations, driven by the expansion of e-commerce and FinTech technology. Recent studies have shown that over 67% of consumers in Saudi Arabia and the UAE currently rely on digital payment methods, with an increasing use of digital wallets and contactless technologies, all of which contribute to strengthening the cashless economy and transforming daily spending patterns.
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