Dubai Cements Its Status as Global Hub for Tourism, Opportunity: Visa
Speaking at the MENA Capital Markets Summit, Jaffar praised Dubai's continued success in attracting visitors across sectors—leisure, business, and medical tourism—while noting sustained growth in both footfall and spending. 'Dubai has succeeded in attracting visitors from around the world,'
she said, pointing to record tourism numbers and an environment ripe with economic opportunity.
Jaffar also highlighted the UAE's rapid digital transformation, particularly in payments. Digital transactions now make up around 70% of all payments in the region, a steep rise from under 30% before the pandemic. 'The region is among the global leaders in contactless payments,'
she said, with more than 90% of face-to-face transactions completed this way.
She noted that the shift is supported by a surge in mobile commerce and high e-commerce adoption, while remaining cash payments are typically limited to minor purchases or rent.
With digital growth comes new risks, and Jaffar emphasized Visa's focus on security. The company is using AI to analyse hundreds of data points per transaction, referencing a database of over 300 billion global transactions to detect fraud. 'We are doubling down on security as threats evolve, including those driven by generative AI,'
she said.
Looking forward, Visa is working with partners to build intelligent agents that can complete transactions autonomously, a step towards reshaping the payment experience to match the pace of digital change.
News Source: Emirates News Agency
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