MENA

The Middle-Eastern region poses some payments challenges — the area is strictly non-adult, non-gaming, and payments processors must adhere to local regulations to keep accounts in good standing. Aside from prohibited sales, the region remains a lucrative opportunity for growth; Middle East experts predict that digital wallets and NFC will be the most-preferred payment methods as cash payments decline.

Regulatory changes such as those introduced in Saudi Arabia in late 2019 and the UAE in 2021 allowed for fintech and telecom companies to expand and compete with regional banks. With the accelerating pace of digital payments, merchant service providers in this region can gain an advantage by developing and tailoring customized payments options and adapting the user experience to accommodate evolving preferences.