Market Share of MENA Digital Payments Industry
The Middle East and North Africa digital payments market is moderately concentrated and dominated by a few major players like Paypal Holdings Inc., Alphabet Inc., ACI Worldwide Inc., Samsung Electronics Inc., and CIB Bank. These significant firms, holding a sizable market share, are concentrating on growing their international consumer base. These businesses are utilizing strategic collaboration projects to expand their market share and profitability. Mid-size and smaller businesses are, however, expanding their market presence by gaining new contracts and tapping into new markets due to technical improvements and product innovations.
In November 2022, Mastercard announced the introduction of Samsung Wallet, a digital wallet solution in Qatar that allows mobile payment services and more to complete secure contactless payments at several online, on-site, and in-store outlets around the world. It will be equipped with additional features shortly, including the ability to store sensitive documents such as IDs, electronic keys, and boarding passes with just one swipe.
Middle East & North Africa Digital Payments Market Leaders
Paypal Holdings Inc.
Samsung Corporation
ACI Worldwide Inc.
CIB Bank
Alphabet Inc. (Google Pay)
*Disclaimer: Major Players sorted in no particular order
