Middle East & North Africa Card Payments Market Size and Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Middle East and North Africa Payments Services Market Report is Segmented by Country (Saudi Arabia, Egypt, The United Arab Emirates, Turkey, Morocco, and Rest of Middle East and North Africa (Iran, Bahrain, Qatar, Oman)). The Market Sizes and Forecasts are Provided in Value Terms (USD) for all the Above Segments.

Middle East & North Africa Card Payments Market Size and Share Analysis - Growth Trends & Forecasts (2025 - 2030)

MENA Digital Payments Market Size

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Middle East & North Africa Digital Payments Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 251.34 Billion
Market Size (2030) USD 422.56 Billion
CAGR (2025 - 2030) 10.95 %
Market Concentration Medium

Major Players

Middle East & North Africa Digital Payments Market Major Players

*Disclaimer: Major Players sorted in no particular order

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MENA Digital Payments Market Analysis

The MENA Digital Payments Market size is estimated at USD 251.34 billion in 2025, and is expected to reach USD 422.56 billion by 2030, at a CAGR of 10.95% during the forecast period (2025-2030).

The digital payments landscape in the Middle East and North Africa (MENA) region is undergoing a significant transformation driven by evolving regulatory frameworks and technological advancements. The central banks across the region, particularly in Egypt, Bahrain, the United Arab Emirates, and Saudi Arabia, have implemented progressive policies to deregulate digital payment services and establish robust financial infrastructure. These regulatory changes have created a more conducive environment for financial institutions and technology providers to introduce innovative payment solutions. The modernization of payment systems has been particularly evident in the establishment of new digital banking platforms and the introduction of sophisticated payment processing capabilities.


The region's financial technology ecosystem has witnessed substantial growth through strategic partnerships and investments. In January 2024, Mastercard expanded its presence in the region through a collaboration with Network International to launch a new digital platform accelerating digital payments adoption across the Middle East and Africa. This platform enables mobile-based payments for consumers and merchants across multiple channels, including USSD, Quick Response (QR) codes, and tap-on-phone solutions. The integration of such advanced payment technologies has significantly enhanced the capability of financial institutions to serve both retail and corporate customers effectively.


The market is characterized by increasing competition and innovation among traditional banks and emerging fintech players. Morocco's financial sector exemplifies this trend, with over 1,100 registered e-commerce websites operating by the end of 2023, demonstrating the rapid digitalization of retail transactions. Similarly, Qatar's e-commerce ecosystem has expanded significantly, with approximately 430 eMerchants now registered through the Ministry of Transport and Communications' Qatar eCommerce Portal, indicating growing merchant adoption of digital payment solutions.


The industry is witnessing a notable shift in payment infrastructure modernization, with countries across the region implementing sophisticated payment networks. In March 2023, Geidea, a prominent fintech company in Saudi Arabia, received authorization from the Saudi Central Bank to process end-to-end payment solutions directly to merchants, introducing innovative "tap-on-phone" payment solutions for SMEs. This development represents a broader trend of payment infrastructure enhancement across the MENA region, as financial institutions and technology providers work to create more efficient and secure payment ecosystems that can support the growing digital economy.

MENA Digital Payments Market Geography Segment Analysis

Digital Payments Market in Turkey

Turkey stands as the dominant force in the MENA digital payments landscape, commanding approximately 38% of the regional market value in 2024. The country's leadership position is built upon its robust financial technology infrastructure and high smartphone penetration rate, with over 67 million registered digital banking users. The Turkish government's commitment to digital transformation is evident through various initiatives aimed at creating a cashless payment society by 2023. The country's young demographic profile, with a median age of 31.5 years, has been particularly receptive to digital payment solutions, driving rapid adoption across both urban and rural areas. The presence of both established banks and innovative fintech startups has created a competitive ecosystem that continues to evolve with new payment solutions. The market has seen significant developments in contactless payments, mobile wallets, and QR-based payment systems, particularly in response to changing consumer preferences. Turkey's strategic position as a gateway between Europe and the Middle East has also attracted substantial international investment, further strengthening its digital payments infrastructure.

Digital Payments Market in United Arab Emirates

The United Arab Emirates represents one of the most dynamic digital payment markets in the MENA region, projected to grow at approximately 27% annually from 2024 to 2029. The country's digital payment ecosystem has been shaped by its ambitious smart city initiatives and the government's Vision 2021 program. The UAE's high internet penetration rate of 99% and smartphone adoption have created fertile ground for electronic payments innovation. The country has emerged as a testing ground for advanced payment technologies, with numerous banks and fintech companies launching digital wallet solutions and contactless payment options. The regulatory environment has been particularly supportive, with the Central Bank of UAE implementing forward-thinking policies to promote digital transactions. The presence of a large expatriate population has driven the demand for efficient cross-border payment solutions, while the robust e-commerce sector has further accelerated online payments adoption. The UAE's position as a global business hub has attracted international payment service providers, creating a diverse and sophisticated payment landscape.

Digital Payments Market in Saudi Arabia

Saudi Arabia's digital payments market demonstrates remarkable transformation driven by the Kingdom's Vision 2030 initiative and its goal of achieving 70% non-cash transactions. The country's young population, with 70% under the age of 30, represents a significant driver of electronic payments adoption. The Saudi Central Bank (SAMA) has played a pivotal role in modernizing the payment infrastructure through initiatives like the Instant Payment System "sarie" and the national QR code payment system. The market has witnessed substantial growth in mobile payments adoption, with services like STCPay gaining significant traction among consumers. The government's push for financial inclusion has led to the emergence of numerous fintech companies, creating a competitive landscape that fosters innovation. The integration of advanced technologies like blockchain and artificial intelligence in payment solutions has positioned Saudi Arabia as a key innovator in the regional digital payments space.

Digital Payments Market in Other Countries

The digital payments landscape across other MENA countries, including Egypt, Morocco, Qatar, Bahrain, and Oman, showcases diverse development patterns influenced by their unique market dynamics and regulatory environments. These markets are characterized by increasing smartphone penetration, growing e-commerce adoption, and supportive government initiatives promoting digital transformation. Countries like Egypt have shown particular promise with their large population base and rapid digital adoption, while Morocco has made significant strides in mobile money solutions. The Gulf states of Qatar, Bahrain, and Oman have leveraged their advanced banking infrastructure to accelerate digital payment adoption. These markets are witnessing the emergence of innovative payment solutions tailored to local needs, from mobile wallets to QR-based payments. The collective growth in these markets is driven by increasing internet penetration, supportive regulatory frameworks, and changing consumer preferences toward digital transactions.

MENA Digital Payments Industry Overview

Top Companies in MENA Digital Payments Market

The MENA digital payments landscape is dominated by a mix of global technology giants and regional specialists, including PayPal, Samsung, Google Pay, Apple Pay, Fawry, and regional players like Saudi Digital Payments Company and Denarii Cash. These companies are driving innovation through enhanced security features, contactless payment solutions, and the integration of biometric authentication methods like fingerprint and facial recognition. The market is characterized by rapid product development cycles, with companies regularly launching new payment solutions tailored to local preferences and regulatory requirements. Operational agility is demonstrated through partnerships with local banks, merchants, and telecom providers to expand acceptance networks. Strategic initiatives focus on developing omnichannel capabilities, expanding merchant networks, and leveraging emerging technologies like blockchain and tokenization. Companies are also investing heavily in expanding their geographical presence through both organic growth and strategic acquisitions across the MENA region.

Market Consolidation Drives Regional Payment Evolution

The competitive landscape reflects a dynamic mix of global payment technology giants and regional fintech specialists, with global players leveraging their technological expertise and capital resources while local players capitalize on their market knowledge and established relationships. International conglomerates like Mastercard and Visa have strengthened their presence through partnerships with local financial institutions and technology providers, while regional specialists like Fawry have built strong domestic market positions through a deep understanding of local consumer preferences and regulatory requirements. The market structure is evolving from fragmented to increasingly consolidated as larger players acquire or partner with smaller fintech payment companies to enhance their technological capabilities and market reach.


The market is witnessing significant merger and acquisition activity as companies seek to expand their geographical footprint and enhance their technological capabilities. Global players are actively pursuing acquisitions of local payment providers to gain market entry and regulatory compliance, while regional players are forming strategic alliances to compete more effectively with international competitors. This consolidation trend is particularly evident in key markets like Saudi Arabia and the UAE, where regulatory support for digital payments has created attractive opportunities for both domestic and international players. The competitive dynamics are further shaped by the entry of telecommunications companies and e-commerce platforms into the digital payments space, adding new dimensions to the competitive landscape.

Innovation and Localization Key to Success

Success in the MENA digital payments market requires a balanced approach combining technological innovation with local market adaptation. Companies must invest in developing secure, user-friendly payment solutions while ensuring compliance with regional regulatory requirements and cultural preferences. The ability to forge strategic partnerships with local financial institutions, merchants, and technology providers is crucial for building market presence and expanding acceptance networks. Market leaders are increasingly focusing on developing integrated payment ecosystems that combine multiple payment methods and value-added services to enhance customer retention and increase market share.


For new entrants and challenger companies, differentiation through specialized services or a focus on underserved market segments offers opportunities for growth. The market shows a moderate concentration of end-users, with urban areas and younger demographics driving adoption, while rural and traditional segments present growth opportunities. Substitution risk from traditional payment methods remains significant in some markets, necessitating educational initiatives and incentives to drive digital payment adoption. Regulatory frameworks are evolving to support digital payment growth while ensuring security and stability, creating both opportunities and compliance challenges for market participants. Success increasingly depends on the ability to navigate complex regulatory requirements while maintaining technological innovation and operational efficiency.

MENA Digital Payments Market Leaders

  1. Paypal Holdings Inc.

  2. Samsung Corporation

  3. ACI Worldwide Inc.

  4. CIB Bank​

  5. Alphabet Inc. (Google Pay)​

  6. *Disclaimer: Major Players sorted in no particular order
Middle East & North Africa Digital Payments Market Concentration
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MENA Digital Payments Market News

  • May 2024: Nium revealed a strategic collaboration with Emirates NBD, a prominent banking group in the MEANT market, which encompasses the Middle East, North Africa, and Türkiye. The partnership aims to introduce an innovative global payment solution poised to reshape the financial services industry in the Middle East and beyond.
  • May 2024: At the Visa Payments Forum for Central and Eastern Europe, the Middle East, and Africa, Visa unveiled a suite of new products and services set to revolutionize the card landscape. The company is rolling out an innovative portfolio, emphasizing digital identity, streamlined checkout experiences, flexible payments, enhanced micro-merchant acceptance, and bolstered security for account-to-account transactions. Furthermore, Visa introduced 'Visa Pay,' a cutting-edge payments-as-a-service platform. This platform is designed to offer top-tier mobile-first payment experiences and seamless send-and-receive capabilities tailored specifically for Central and Eastern Europe, Middle East, and African countries.

Middle East & North Africa Digital Payments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Industry Value Chain Analysis
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Intensity of Competitive Rivalry
    • 4.3.5 Threat of Substitutes
  • 4.4 Market Drivers
    • 4.4.1 High Proliferation of Smartphones & Social Interactions
    • 4.4.2 Enablement Programs by Key Retailers to Bridge the Gap Between Physical and Digital Worlds
    • 4.4.3 Launch of Real-time Payment Systems in Key GCC and North African Countries
    • 4.4.4 Increasing Emphasis on Customer Satisfaction and Convergence of Global Trends in the Region
  • 4.5 Market Challenges
    • 4.5.1 Operational Challenges Involving Cross-border Payments
    • 4.5.2 Relative Lack of Digital Literacy in the Key Emerging Countries in the Region
  • 4.6 Market Opportunities
    • 4.6.1 Decline in Unbanked Population in the Region
    • 4.6.2 New Entrants to Drive Innovation Leading to Higher Adoption
  • 4.7 Key Regulations and Standards in the Digital Payments Industry
  • 4.8 Assessment of Macroeconomic Factors on the Market
  • 4.9 Key Base indicators
    • 4.9.1 Digital Literacy
    • 4.9.2 Population Index
    • 4.9.3 Strong Presence of Expatriate Workers
  • 4.10 Major Case Studies and Implementation Use-cases
    • 4.10.1 Entries of Kuwait Finance House and Mashreq Bank
    • 4.10.2 Dhofar's Entry into the Digital Payment Ecosystem

5. EVOLUTION OF THE PAYMENTS LANDSCAPE IN MIDDLE EAST AND NORTH AFRICA

6. MARKET SEGMENTATION

  • 6.1 By Country
    • 6.1.1 Saudi Arabia
    • 6.1.1.1 Analysis of the Payments Landscape in Saudi Arabia (Cash and Non-cash)
    • 6.1.1.2 Digital Transactions Value and Total User Base (2019-2029)
    • 6.1.1.3 Market Breakdown of Digital Transactions - mPOS and Digital Commerce
    • 6.1.1.4 Major E-wallet Service Providers in Saudi Arabia (BayanPay, HalalaH, STC, etc.)
    • 6.1.1.5 Market Outlook
    • 6.1.2 Egypt
    • 6.1.2.1 Analysis of the Payments Landscape in Egypt (Cash and Non-cash)
    • 6.1.2.2 Digital Transactions Value and Total User Base (2019-2029)
    • 6.1.2.3 Market Breakdown of Digital Transactions - mPOS and Digital Commerce
    • 6.1.2.4 Major E-wallet Service Providers in Egypt - (QNB Al-Ahli, CIB, UB, Audi2Pay, etc.)
    • 6.1.2.5 Market Outlook
    • 6.1.3 United Arab Emirates
    • 6.1.3.1 Analysis of the Payments landscape in the United Arab Emirates (Cash and Non-cash)
    • 6.1.3.2 Digital Transactions Value and Total User Base (2019-2029)
    • 6.1.3.3 Market Breakdown of Digital Transactions - mPOS and Digital Commerce
    • 6.1.3.4 Major E-wallet Service Providers in UAE- (Beam, Etisalat Wallet, Emirates Digital Wallet, Trriple, Bridg, Samsung Pay, and WePay)
    • 6.1.3.5 Market Outlook
    • 6.1.4 Turkey
    • 6.1.4.1 Analysis of the Payments Landscape in Turkey (Cash and Non-cash)
    • 6.1.4.2 Digital Transactions Value and Total User Base (2019-2029)
    • 6.1.4.3 Market Breakdown of Digital Transactions - mPos and Digital Commerce
    • 6.1.4.4 Major E-wallet Service Providers in Turkey - (BKM Express, MobileExpress, Pay Cell, etc.)
    • 6.1.4.5 Market Outlook
    • 6.1.5 Morocco
    • 6.1.5.1 Analysis of the Payments Landscape in Morocco (Cash and Non-cash)
    • 6.1.5.2 Digital Transaction Value and Total User Base (2019-2029)
    • 6.1.5.3 Market Breakdown of Digital Transactions - mPos and Digital Commerce
    • 6.1.5.4 Major E-wallet Service Providers in Morocco
    • 6.1.5.5 Market Outlook
    • 6.1.6 Rest of Middle East and North Africa (Iran, Bahrain, Qatar, Oman)

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles*
    • 7.1.1 Paypal Holdings Inc.
    • 7.1.2 Samsung Corporation
    • 7.1.3 ACI Worldwide Inc.
    • 7.1.4 CIB Bank
    • 7.1.5 Alphabet Inc. (Google Pay)
    • 7.1.6 Apple Inc.
    • 7.1.7 First Data
    • 7.1.8 Fawry
    • 7.1.9 Mastercard (MasterPass)
    • 7.1.10 ACI Worldwide
    • 7.1.11 Saudi Digital Payment Company
    • 7.1.12 Denarii Cash

8. INVESTMENT ANALYSIS

9. MARKET OPPORTUNITIES AND FUTURE TRENDS

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MENA Digital Payments Industry Segmentation

Digital payments are a method of payment made through digital means. In digital payments, the payer and payee both use digital means to send and receive money. They are also called electronic payments. No hard cash is involved in digital payments.

The Middle East and North African digital payments market is segmented by country (Saudi Arabia, Egypt, United Arab Emirates, Turkey, Morocco, and Rest of the Middle East and North Africa (Iran, Bahrain, Qatar, Oman)). The scope of the study covers an analysis of the payments landscape, digital transaction value and total user base, market breakdown of digital transactions - MPOS and digital commerce, and major e-wallet service providers. The market sizes and forecasts are provided in value terms (USD) for all the above segments.

By Country Saudi Arabia Analysis of the Payments Landscape in Saudi Arabia (Cash and Non-cash)
Digital Transactions Value and Total User Base (2019-2029)
Market Breakdown of Digital Transactions - mPOS and Digital Commerce
Major E-wallet Service Providers in Saudi Arabia (BayanPay, HalalaH, STC, etc.)
Market Outlook
Egypt Analysis of the Payments Landscape in Egypt (Cash and Non-cash)
Digital Transactions Value and Total User Base (2019-2029)
Market Breakdown of Digital Transactions - mPOS and Digital Commerce
Major E-wallet Service Providers in Egypt - (QNB Al-Ahli, CIB, UB, Audi2Pay, etc.)
Market Outlook
United Arab Emirates Analysis of the Payments landscape in the United Arab Emirates (Cash and Non-cash)
Digital Transactions Value and Total User Base (2019-2029)
Market Breakdown of Digital Transactions - mPOS and Digital Commerce
Major E-wallet Service Providers in UAE- (Beam, Etisalat Wallet, Emirates Digital Wallet, Trriple, Bridg, Samsung Pay, and WePay)
Market Outlook
Turkey Analysis of the Payments Landscape in Turkey (Cash and Non-cash)
Digital Transactions Value and Total User Base (2019-2029)
Market Breakdown of Digital Transactions - mPos and Digital Commerce
Major E-wallet Service Providers in Turkey - (BKM Express, MobileExpress, Pay Cell, etc.)
Market Outlook
Morocco Analysis of the Payments Landscape in Morocco (Cash and Non-cash)
Digital Transaction Value and Total User Base (2019-2029)
Market Breakdown of Digital Transactions - mPos and Digital Commerce
Major E-wallet Service Providers in Morocco
Market Outlook
Rest of Middle East and North Africa (Iran, Bahrain, Qatar, Oman)
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Middle East & North Africa Digital Payments Market Research FAQs

How big is the MENA Digital Payments Market?

The MENA Digital Payments Market size is expected to reach USD 251.34 billion in 2025 and grow at a CAGR of 10.95% to reach USD 422.56 billion by 2030.

What is the current MENA Digital Payments Market size?

In 2025, the MENA Digital Payments Market size is expected to reach USD 251.34 billion.

Who are the key players in MENA Digital Payments Market?

Paypal Holdings Inc., Samsung Corporation, ACI Worldwide Inc., CIB Bank​ and Alphabet Inc. (Google Pay)​ are the major companies operating in the MENA Digital Payments Market.

What years does this MENA Digital Payments Market cover, and what was the market size in 2024?

In 2024, the MENA Digital Payments Market size was estimated at USD 223.82 billion. The report covers the MENA Digital Payments Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the MENA Digital Payments Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

MENA Digital Payments Market Research

Mordor Intelligence provides comprehensive insights into the digital payments landscape. We leverage extensive expertise in payment technology and fintech payment solutions. Our research thoroughly examines the evolution of electronic payments and digital banking systems across the MENA region. This includes a detailed analysis of payment gateway infrastructure and digital wallet adoption. The report, available as an easy-to-download PDF, covers emerging trends in mobile payments, contactless payments, and QR payment systems. It also analyzes the growth of online payments and digital currency implementations.

Our detailed analysis benefits stakeholders by providing actionable insights into payment processing mechanisms, instant payment solutions, and mobile money trends. The report examines the advancement of cashless payment systems, P2P payment platforms, and virtual payment solutions. Additionally, it covers developments in digital remittance services. Comprehensive coverage includes payment solutions for mobile point of sale systems, digital transaction processing, and internet payments infrastructure. The analysis also explores digital checkout innovations and emerging epayments technologies. This offers stakeholders a clear roadmap for strategic decision-making in this rapidly evolving sector.