Latest news with #digitalPayments
Zawya
19 hours ago
- Business
- Zawya
Visa study reveals UAE consumers would shop more online with simpler checkout experience
The need to manually enter card details, and security concerns are major pain points for consumers shopping online, resulting in lost revenue for businesses Two-thirds of respondents trust biometric authentication more than traditional methods such as passwords and OTPs UAE, Dubai: Visa, a global leader in digital payments, today announced the findings of its ' Checkout Friction Report ', which highlights strong consumer demand for a more secure and seamless eCommerce experience. Despite the widespread adoption of eCommerce and significant progress in growing the UAE's digital economy, opportunity remains for retailers to enhance checkout experience and increase customer satisfaction. The research is based on a survey of 2,016 online shoppers across the GCC, including the UAE, and explores their experiences with eCommerce purchases. It examines common pain points during the checkout process that affect both consumer satisfaction and business outcomes. Checkout Challenges Undermine the Rise of Frequent Online Shopping Visa's 'Checkout Friction Report' shows that one in three respondents (33%) in the UAE shops multiple times a week for groceries. For categories such as fashion, entertainment, and electronics, shopping frequency ranges from once to a few times a month. According to 40% of respondents, the biggest frustrations with online checkouts are security concerns, followed by the hassle of entering card details manually (37%). By addressing these challenges, retailers can enhance the checkout experience which could lead to increased customer satisfaction. "Challenges in the online checkout process have direct implications for businesses, resulting in lost revenue, and hampering both customer acquisition and retention. Today's consumers expect – and deserve – a more seamless and secure eCommerce experience. That's why Visa is working with partners to enable solutions like Click to Pay, which leverages biometrics and tokenization to eliminate key pain points and deliver a more convenient shopping experience. Improving these moments not only drives business results but also builds on the UAE government's achievements in building a seamless, secure digital economy,' said Salima Gutieva, Visa's VP and Country Manager for UAE. UAE Online Shoppers Prioritize Safety Beyond the inconvenience of current checkout options, security remains a top priority for online shoppers. According to Visa's research, 58% of consumers surveyed are worried about the risk of fraud or hacking when storing their card details on multiple websites. Additionally, 42% of respondents have experienced fraud or security breaches. Biometrics and One-Click Checkouts for Better Online Payment Experience Visa's 'Checkout Friction Report' reveals a strong preference for a more streamlined checkout, with 65% of respondents supporting a single registration process for online payments across all participating merchants. When the option of biometric authentication was proposed, two-thirds (67%) of respondents said they would use it to check out, with many trusting biometric authentication (fingerprint/face ID) more than traditional payment methods (passwords/OTP). For businesses, the demand for simpler and safer checkout options is clear. Most respondents (82%) would shop online more frequently and be more likely to complete their purchases with a one-click checkout option. Two-thirds of the surveyed consumers (66%) show a high likelihood of using 'Click to Pay with Biometrics'' if offered by online retailers. Visa Click to Pay streamlines online shopping by providing advanced checkout experiences, eliminating the need to manually enter card details, thereby making transactions significantly faster. At participating eCommerce platforms, consumers can simply click the Click to Pay button to complete their purchase quickly and easily using their preferred Visa card and shipping address. Visa's Click to Pay relies on biometric authentication available on the consumer's device and does not require transfer of biometric data. About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at
Zawya
2 days ago
- Business
- Zawya
Visa study reveals Oman consumers would shop more online with simpler checkout experience
The need to manually enter card details, and security concerns, are major pain points for consumers shopping online, resulting in lost revenue for businesses 60% of respondents trust biometric authentication more than traditional methods such as passwords and OTPs Oman, Muscat: Visa, a global leader in digital payments, today announced the findings of its 'Checkout Friction Report', which highlights strong consumer demand for a more secure and seamless eCommerce experience. Despite the widespread adoption of eCommerce and significant progress in growing Oman's digital economy, opportunity remains for retailers to enhance checkout experience and increase customer satisfaction. The research is based on a survey of 2,016 online shoppers across the GCC, including Oman, and explored their experiences with eCommerce purchases. It examined common pain points during the checkout process that affect both consumer satisfaction and business outcomes. Checkout Challenges Undermine the Rise of Frequent Online Shopping Visa's 'Checkout Friction Report' shows that one in three respondents (32%) in Oman shops multiple times a week for groceries. For categories such as fashion, entertainment, and electronics, shopping frequency ranges from once to a few times a month. According to 48% of respondents, the biggest frustrations with eCommerce checkouts are security concerns, followed by the hassle of entering card details manually (42%). By addressing these challenges, retailers can enhance the checkout experience which could lead to increased customer satisfaction. 'Today's consumers expect – and deserve – a more seamless and secure checkout experience. That's why Visa is working with partners to enable solutions like Click to Pay, which leverages biometrics and tokenization to eliminate key pain points and deliver a more convenient shopping experience. Improving these moments not only drives a better consumer experience but also builds on the Oman government's achievements in building a seamless, secure digital economy,' said Ali Bailoun, Visa's Regional General Manager for KSA, Oman and Bahrain. Oman Online Shoppers Prioritize Safety Beyond the inconvenience of checkout, security remains a top priority for online shoppers. According to Visa's research, 72% of consumers surveyed are worried about the risk of fraud, while 59% expressed concerns about hacking when storing their card details on multiple websites. Additionally, one in three (32%) respondents has experienced fraud or security breaches. Biometrics and One-Click Checkouts for Better Online Payment Experience Visa's 'Checkout Friction Report' also reveals a strong preference for a more streamlined checkout, with 64% of respondents supporting a single registration process for online payments across all participating merchants. When the option of biometric authentication was proposed, two-thirds (66%) of respondents said they would use it to check out, with 60% trusting biometric authentication (fingerprint/face ID) more than traditional payment methods (passwords/OTP). Most respondents (70%) would shop online more frequently and be more likely to complete their purchases with a one-click checkout option. Almost two-thirds of the surveyed consumers (66%) show a high likelihood of using 'Click to Pay with Biometrics'' if offered by online retailers. "Challenges in the online checkout process have direct implications for businesses, resulting in lost revenue, and hampering both customer acquisition and retention. For businesses, the demand for simpler and safer checkout options is clear,' said Nasser Bdeir, Visa's Country Manager for Oman. Visa Click to Pay streamlines online shopping by providing advanced checkout experiences, eliminating the need to manually enter card details, thereby making transactions significantly faster. At participating eCommerce platforms, consumers can simply click the Click to Pay button to complete their purchase quickly and easily using their preferred Visa card and shipping address. Visa's Click to Pay relies on biometric authentication available on the consumer's device and does not require transfer of biometric data. About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at
Arab News
26-05-2025
- Business
- Arab News
SAB partners with IDEMIA to launch innovative card activation solution
Saudi Awwal Bank has become the first bank in the Kingdom to implement IDEMIA Secure Transactions' 'Tap to Activate' solution. This initiative is part of SAB's commitment to enhancing customer transactions and providing a seamless and secure banking experience. The 'Tap to Activate' solution will integrate both physical and digital payment experiences, allowing their customers to efficiently activate new payment cards by simply tapping on their smartphone. The service's robust authentication protocols allow for a secure, convenient, and hassle-free process that ensures that only the customer can activate their card, eliminating the need for ATMs or phone banking. Bandar Al-Gheshayan, chief wealth and personal banking officer at SAB, said: 'SAB is proud to launch the innovative 'Tap to Activate' solution in the Kingdom, reaffirming our commitment to secure and seamless banking experiences. By leveraging cutting-edge technology and our longstanding partnership with IDEMIA Secure Transactions, we continue to meet the evolving needs of our customers. This initiative enhances convenience, supports the Kingdom's broader digital transformation goals, and sets new standards in customer experience.' Serigne Dia, vice president of payment services, Middle East and Africa, IDEMIA Secure Transactions, said: 'We are excited to strengthen our partnership with SAB through the launch of the innovative 'Tap to Activate' solution. In today's era of convenience, simplifying the user experience has never been more crucial. SAB's keen understanding of evolving consumer needs and market trends exemplifies their customer-centric and forward-thinking approach. By moving beyond the physical card and entrusting IDEMIA Secure Transactions with a digital solution, SAB affirms the high-quality standards that we are trusted to deliver.' SAB and IST share a longstanding partnership, having previously collaborated on eco-friendly rPVC payment cards for the bank's customers and exclusive premium metal cards for its high-net-worth clients. This latest venture underscores their shared commitment to innovation and customer-centric financial solutions. SAB remains at the forefront of driving innovation and advancing digital infrastructure, fully aligned with Saudi Arabia's Vision 2030 goals of building a robust and secure digital economy. By harnessing cutting-edge technologies and introducing pioneering secure banking solutions, SAB continues to play a vital role in transforming the financial sector.
Zawya
15-05-2025
- Business
- Zawya
Egypt: e-finance's consolidated profits surge 30.21% YoY in Q1 2025
Arab Finance: e-finance for Digital and Financial Investments (EFIH) posted a 30.21% year-on-year (YoY) jump in consolidated net profits after tax and non-controlling interest in the first quarter (Q1) of 2025, recording EGP 602.259 million, versus EGP 462.527 million, as per a filing. Revenues climbed to EGP 1.619 billion from January to March this year from EGP 1.149 billion in the same period last year. The company reported standalone net profits after tax of EGP 645.633 million in Q1 2025, up from EGP 546.664 million in Q1 2024. Meanwhile, standalone revenues soared to EGP 698.695 million from EGP 528.618 million. Founded in 2005, e-finance is the first fintech platform in Egypt and a leading digital payment infrastructure developer. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
