Tackling the problems of online payments

  • Share via facebook
  • Tweet this
  • Bookmark and Share

It’s a common complaint among e-commerce businesses across the Middle East and North Africa: The payment gateways just aren’t good enough.

Expensive, unreliable, insecure, unfamiliar to banks, merchants and customers - there simply hasn’t been a solid relationship between the service providers, users, and consumers.

The knock-on effects for start-ups, SMEs and entrepreneurs are manifold, with many losing potential sales or having to instal a costlier and riskier cash-on-delivery system.

Logistics, business plans, staffing, and other aspects of a business can be severely affected by the lack of a coherent, reliable and trusted payment gateway, with buyers being forced to look to other options.

But all of that could be about to change.

In September, PayPal published a report which could revolutionise the way businesses view online payments , driving an improvement in service across the region.

PayPal Insights: E-commerce in the Middle East was compiled in conjunction with Ipsos, which carried out an extensive research project to help identify problems in the payment market, and build a plan to not only solve them, but to unlock the e-commerce potential in MENA.

With 110 million internet users and 290 million mobile users in a population of 350 million, the number of e-shoppers should well exceed the existing 30 million.

Indeed, the report predicts that the e-commerce market in MENA will be worth $15bn by 2015 - a staggering figure which is almost double the $9bn it was worth in 2012.

Article continued on next page...

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
Getting to know the Entrepreneurs Organisation

Getting to know the Entrepreneurs Organisation

The EO’s 17th annual closing dinner was an opportunity for entrepreneurs...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew