Payment security a major deterrent for many GCC residents who prefer online shopping

A recent survey commissioned by Seamless Middle East reveals that 48 percent of GCC residents prefer to shop online, with 33 percent of respondents stating that online shopping is just as safe as offline shopping. The survey was conducted by YouGov in March 2017, with over 2,700 participants from across the GCC including the United Arab Emirates, Kingdom of Saudi Arabia, Oman, Bahrain, Kuwait and Qatar.

The Arab Federation for e-Commerce (AFEC) revealed last month that the region’s current share of the e-commerce market only represents one percent of the global market; however, the survey results highlight the increasing opportunity for e-commerce in the region.

According to the survey, despite the willingness of GCC residents to fully embrace e-commerce, 34 percent of survey respondents claimed that a lack of confidence in payment security deters them from shopping online. 29 percent of UAE respondents still feel that offline shopping is more secure, with only 31 percent considering online shopping equally as safe.

Joseph Ridley, General Manager of Seamless Middle East at Terrapinn, concluded: “E-commerce is a hot topic globally and key players in the industry are showing increased interest in the Middle East – the Souq.com acquisition by Amazon is a prime example. Seamless Middle East provides a platform for e-commerce, payments and retail industry professionals to explore the potential of the market through knowledge sharing, as well as showcasing new products and technologies to key stakeholders within the region.”

Regional and international experts will discuss best practices and future trends in the payments, e-commerce and retail industries at Seamless Middle East 2017, to be held on 1st &2nd May, at the Dubai International Convention and Exhibition Centre. The conference, will be held under the patronage of Lieutenant General His Highness Sheikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior