Electronic payment products add USD18b to MEA economies

25 Mar 2013

(MENAFN) According to a study carried out for Visa by Moody’s Analytics, between 2008 and 2012, the use of electronic payment products added nearly USD18 billion to Middle East and Africa (MEA) region’s economies, reported Emirates 24/7.

The study shows that these products, including credit and debit cards, contributed with USD4.2 billion to the UAE’s economy during the aforementioned period.

Meanwhile, Saudi Arabia’s economy benefited from an addition of USD4.7 billion from the use of electronic payment products, which added USD7.8 billion to South Africa’s economy, USD1.2 billion to Kuwait’s and USD0.4 billion to Qatar’s.

It is worth noting that electronic payments added USD983 billion to the economies of the 56 countries covered in the study, including the MEA region, during the period between 2008 and 2012.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more