New yStats.com report: Transformation of the Middle East and Africa’s E-Payments Market During COVID-19 “Middle East & Africa Online Payment Methods 2020 and COVID-19’s Impact” is the title of a new report published by yStats.com, a leading online business intelligence specialist based in Hamburg, Germany. According to the report’s findings, digital payments in this region are on the rise amid the pandemic outbreak despite the recent dominance of cash payments. Full report here: https://bit.ly/3hZzR1x

1. PRESS RELEASE
Hamburg, May 20th, 2020
New yStats.com report: Transformation of the Middle East and Africa’s
E-Payments Market During COVID-19
“Middle East & Africa Online Payment Methods 2020 and COVID-19’s Impact” is the title of a new report published by
yStats.com, a leading online business intelligence specialist based in Hamburg, Germany. According to the report’s findings, digital
payments in this region are on the rise amid the pandemic outbreak despite the recent dominance of cash payments.
The outbreak undermines the preference for cash on delivery in the Middle East and Africa
According to the yStats.com report, cash on delivery was the leading payment method preferred by online shoppers in Saudi Arabia,
Jordan, Egypt, Morocco, Kenya, and other countries in this region, as of 2019. The COVID-19 outbreak in early 2020, however, is changing this
perspective, with online shopping platforms and regulators encouraging the use of cashless payment means during the pandemic. Their efforts
are already showing results, as close to two-thirds of respondents to an April 2020 survey reported having reduced their use of cash since the
outbreak. Mobile money, card and contactless payments are among the payment methods that are benefitting from consumers turning their
backs on cash.
Fintechs are booming in the region
Africa and Middle East’s FinTech companies are contributing to the rise of digital payments across the region, with the help of millions
of dollars raised during 2019, as the yStats.com report shows. Some of the stars of the investment rounds include Interswitch and Opay in
Nigeria, Tala in Kenya and Dubai-based Network International which listed its shares on London Stock Exchange at the beginning of 2019.
Furthermore, Kenya’s mobile money service M-Pesa is making a major contribution to the development of mobile payment transactions during
the COVID-19 outbreak.
For further information, see: https://www.ystats.com/market-reports/middle-east-africa-online-payment-methods-2020-and-covid-19s-impact/
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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to
providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our
areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover
a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide
selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide,
including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an
expertise in the areas of B2C E-Commerce and Online Payment.