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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
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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