Dublin, 30 July 2020 (GLOBE NEWSWIRE) – The report “Digital Payments Market in the Middle East and North Africa – Growth, Trends, Forecasts (2020-2025)” has been added to the ResearchAndMarkets.com offering. The virtual receipt market in the Middle East and North Africa is expected to succeed at an annual compound rate of 6.5% during the 2020-2025 forecast era. Over time, the virtual payments industry has undergone a physically powerful expansion, launching new vendors, platforms, and payment teams in the region. The virtual payments landscape in the region is becoming immediately and is driving the expansion of the reception site market due to concern. Virtual Transformation Stores and facilities in the region are immediately adopting and integrating cellular payment apps, such as PayPal, Samsung Pay, Apple Pay and Google Pay, to pay bills. Due to the conversion of lifestyles, the daily industry and the immediate expansion of online retail, this trend is expected to continue during the prognosis era in the region. The place of reception of the studied market is expected to thrive, due to the strong proliferation of smartphones and the Internet. Internet penetration has grown in recent years and is expected to continue on the same trajectory, due to the expansion of investment through Internet service providers in the region. In Qatar, 75% of the population has a cell phone, the United Arab Emirates 73% and Saudi Arabia 60%.
Key market trends Smartphone proliferation and Internet penetration to stimulate market growth
Launch of real-time systems in key GCC and North Africa countries to drive market growth
Competitive Panorama The virtual receipt market is concentrated in the Middle East and North Africa. The competitive rivalry in the market, the square, the square and the place studied is moderate, as many players prevail. Despite the lifestyles of several corporations in the market, the square, the room and the place of study, corporations are required to continue to innovate their products, in order to gain sustainable competitive merit over their competition and differentiate their products. Some of the key developments in theplaceplaceplace market are:
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