Wednesday, 25 May 2022

Ecommerce and BNPL spearhead MENA payments sector

5 min read

The Middle East and North Africa (MENA) payments sector is continuing its accelerated growth curve sparked last year, according to a report by Checkout.com on digital transformation in MENA and Pakistan. Driven by booming ecommerce adoption and a growing fintech ecosystem, the region is seeing tailwinds in paytech and cashless trends. Ecommerce is largely responsible for this development. The ecommerce sector in the MENA region, the fastest growing across the world, is expected to reach US$49 billion next year. Between 2020 and 2021, a total of 209 million people have shifted to online shopping.

News source: Checkout.com

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