Welcome Guest | Register / Login

Payments Snapshot in UAE: Coronavirus (COVID-19) Sector Impact

Payments Snapshot in UAE: Coronavirus (COVID-19) Sector Impact

Summary

The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring it a pandemic on March 11, 2020. The virus has spread to 189 countries/regions with over 3.6 million confirmed cases, with its spread outpacing other major infectious outbreaks from the past.

The ongoing pandemic has affected the UAE's economy, resulting in a fall in tourism and in the domestic consumption of goods and services. The country's GDP has been revised downward for 2020 due to the economic disruption caused by Coronavirus. There has been a sharp rise in the cancelation of flights, hotel bookings, and major upcoming events across areas including music, entertainment, art, and sport.

On March 15 the UAE announced an economic package worth AED100bn ($27.23bn) to support the dwindling economy and lend support to severely affected sectors. It also offered a AED50bn ($13.61bn) aid to help SMEs cope with the economic impact of Coronavirus.

This report focuses on the impact of the Coronavirus outbreak on both the economyand the cards and payments industry in the UAE. Based on our proprietary datasets, the snapshotprovides a detailed comparison between pre-COVID-19 forecasts andrevised forecasts of total payment card, debit card, and credit and charge card transactions by value and volume. It also offers information on measures taken by the government to combat Coronavirus.

Scope

- Tourism is one of the sectors most affected by this pandemic. The UAE's tourism sector contributed to around $45bn of the country's GDP in 2019. The UAE sees a strong influx of Chinese visitors each year one in every 16 visitors are from China, and they tend to spend heavily on high-end shopping and on package tours and resorts.
- The UAE has allowed essential service providers to remain open. But many bricks-and-mortar retailers are launching online services as consumers try to avoid crowded areas. On April 24, shopping mall operator Majid Al Futtaim announced the launch of an online marketplace, allowing consumers to buy a range of items such as perfumes, watches, and beauty products.
- Consumers will shift from cash-based payments to digital payment tools, particularly non-contact tools, when transacting in stores. The use of contactless cards and NFC-based mobile wallets such as Apple Pay, Google Pay, and Samsung Pay will rise as a result. New mobile wallet solutions are also being rolled out.

Reasons to Buy

- Make strategic decisions using top-level revised forecast data on the UAE payment industry.
- Understand the key market trends, challenges, and opportunities in the UAE cards and payments industry.
- Receive a comprehensive insight into payments market in the UAE.
Single User License: Report will be emailed in PDF format and can be accessed by a specific user. This License type allows the report to be Printed.
Site License: Report will be emailed in PDF and  allows only employees within the same geographical location within the organization to access it. This License type allows the report to be Printed.
Global Site License: Report will be emailed in PDF format and allows all employees within the organization to access it.  This License type allows the report to be Printed.
Why http://www.marketreportsonline.com/
Payments Snapshot in UAE: Coronavirus (COVID-19) Sector Impact
Published By :GlobalData
Price
How to Purchase
Purchase reports from our site in few easy clicks. Please follow the description given below to complete your purchase process.
Step 1:
Select the report title of your interest, and Click on Buy Now button next to the Price option.
Step 2:
You will arrive at the Purchase page, where you will be requested to Signup (New User) or Login (Registered User). Please note that in-keeping with the security check on the website, you must submit your full details to avoid any inconvenience arising from incorrectly entered data or counterfeit information.
Step 3:
After SignUp/Login, you will arrive at our Payment Page on Paypal. You will see your Order Summary as well as an option to Choose a way to pay. Select a Payment option from Pay with a Paypal account OR Pay with a Debit or Credit Card. MarketReportOnline accepts Visa, MasterCard, American Express and Discover through Paypal. Fill up the required details in the option of your choice.
Step 4:
Once you follow the required process in Step 3 as mentioned above, you have successfully completed the purchase process.
Step 5:
Once you have successfully completed the purchase process, you will receive a confirmation email. The report will then be emailed to you directly by the publisher, as per our agreement with the publisher. For Orders that are placed after working hours, the delivery of the reports will be made on the next business day. For orders that are placed during weekends, the delivery of the reports will be made on the next 'working' business day. Please note, if you select purchase by invoice, you will receive your report only once the payment has been received. If you have any queries about how to order, please Contact Us.
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy