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Mobile Wallets
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Cash usage in the UAE is decreasing by 20%, while the popularity of mobile wallets is causing a “revolution” in digital payments
The United Arab Emirates (UAE) is witnessing a digital payment revolution as cash usage declines by 20% and mobile wallets become increasingly popular among younger generations. According to a paper released by Amazon Payment Services, digital payments across key sectors in the UAE are expected to increase at a compound annual growth rate (CAGR) of 18.3% from 2021 to 2023, indicating a significant shift towards digital transactions.
