Digital payments help some UAE retailers increase revenue: Survey

123RF

Around 68 per cent of small retailers in the UAE have apparently seen their revenue increase after adopting digital payments.

That’s according to a new survey by Visa, which found that convenience, security and speed of transactions are some of the key benefits experienced by store owners.

It showed that 63 per cent of the retailers have seen footfalls improve.

Nearly half of cash-only retailers also said they lost a transaction because customers were not carrying enough money at the time of purchase.

Meanwhile, over two-thirds currently accepting digital payments said they could invest in new payment technologies in the near future.

More than 80 per cent of digitally-enabled merchants are also likely to recommend them to other businesses who currently only accept cash.

As many as 208 small retailers in Abu Dhabi, Dubai and Sharjah were interviewed for this study, of which 50 accepted cash payments and 158 accepted digital payments.

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast Night Cap

    8:00pm - 9:00pm

    When business at breakfast just isn’t enough… we bring you an extra helping of broadcasting favourites, Malcolm Taylor, Brandy Scott and Richard Dean!

  • The Night Shift with Mark Lloyd

    9:00pm - 12:00am

    Musicians and music, entertainers and entertainment, industry gossip and songs selected by you, get ready to bring your night time to life!

On Dubai Eye

  • Tony Robbins Live in Dubai

    Najahi Events presents the highly anticipated Tony Robbins Event, Achieve the Unimaginable with Celebrity Guest Appearances, Live at the Coca Cola Arena, 3rd September.

  • Farmer's Kitchen

    Welcome to Farmer's Kitchen, the brand new show for foodies on Dubai Eye 103.8.

  • Brandy Scott Signs TV Deal!

    Brandy Scott's novel, 'Not Bad People' will be adpated for television. Watch her interview here.