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FINANCIAL NEWS
Digital payments in UAE to generate USD2tr by 2020
14 Jul 2016
(MENAFN) The UAE expects that digital payments will reach USD2tr in revenue by 2020, while mainstream banks will adopt mobile banking solutions to meet the demand of their clients.
Accordingly, markets like the Middle East have the drive for innovation and chance to build next-gen infrastructure, enabling them to become global leaders in digital payments.
Additionally, emerging markets introduce 90 percent of mobile growth, and these figures will grow, with the UAE’s ongoing progress in becoming a hub for FinTech.
Meanwhile, 2bn people use at least one of 270 available mobile money services, and industry studies show the need for further digital payment solutions.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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