NEW YORK, March 23, 2016 /PRNewswire/ -- While credit card is the payment method most used by online shoppers worldwide, in many emerging markets of the Middle East and Africa cash on delivery is still more popular. In countries such as Egypt, Nigeria, the UAE and Saudi Arabia this method was used by more than 50% of online shoppers to pay for purchases made over the Internet in 2015, as revealed in a new report by yStats.com. Nevertheless, there are a few exceptions to this trend, such as in South Africa where the majority of online transactions were paid with credit or check card. Moreover, in Morocco, the number and value of online payment transactions made with credit cards is growing rapidly, though cash on delivery still leads in usage.
Another popular alternative to credit card payments in the Middle East and Africa is mobile payment. Low banking penetration and growing mobile phone penetration rates in Africa are driving the use of this innovative payment method. Kenya is the regional leader in mobile payments, with mobile payment users accounting for more than two thirds of the country's population in 2015. Also in Nigeria, payment transactions made with mobile phones were growing at triple-digit rates last year. A number of new mobile payment solutions were launched in Africa in 2015, including BlackBerry's BBM and WeChat's mobile wallet to rival local solutions such as MFS Africa and M-Pesa. In wealthier Middle Eastern states mobile payments are also gaining pace, with more than half of Internet users surveyed in mid-2015 declaring their readiness to make payments via smartphones, according to the finding cited in yStats.com's report.
For individual Market Report purchases:
1. A "Single User License" means that only one (1) individually named user of an organization shall be entitled to access the report
2. A "Site License" means that up to ten (10) users within a given geographical location (i.e. country) of an organization shall be entitled to access the report
3. A "Global Site License" means that up to ten (10) worldwide users of an organization shall be entitled to access the report
In all cases, the term "organization" refers to the purchaser's specific company only and excludes any third parties, including affiliates. All purchases are bound by yStats.com GmbH & Co. KG official terms & Conditions. For more detailed information about our licenses, please see our Terms & Conditions at www.ystats.com/terms-conditions.
Read the full report: http://www.reportlinker.com/p03707635-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/middle-east-and-africa-online-payment-methods-full-year-2015-300240693.html