Market Share of United Arab Emirates Mobile Payments Industry
The UAE mobile payments market is moderately competitive with players such as Apple Pay, Samsung Pay, and Google Pay. Companies are introducing new offerings and continuously investing in new partnerships and acquisitions along with product development to increase their market share. Some of the key developments in the market are -
- In October 2022, Al Maryah Community Bank offered the provision of digital payment services using Apple Pay, allowing customers to make payments more convenient, secure, and private while eliminating the need to touch buttons and terminals and replacing the need for physical cards and cash in the United Arab Emirates.
- In June 2022, Samsung launched the Samsung wallet by combining the capabilities of Samsung Pay and Samsung Pass into a new single platform. The wallet enables users to store digital keyboard passes and identification cards in one place and has a single, easy-to-use, and secure mobile application for all this functionality. It is rolled out in 13 territories, including the United Arab Emirates.
- In March 2022, Google Pay, in collaboration with Pine Labs, launched Tap to Pay for UPI, a functionality that aims to bring seamless convenience to the United Arab Emirates and other countries.
UAE Mobile Payments Market Leaders
Amazon Payment Services
Google Pay
Samsung Pay
Apple Pay
NOW Money
*Disclaimer: Major Players sorted in no particular order
