Top 10 Major Payment Methods in the Middle East, How Much Do You Know?

introductory

With the rapid growth of e-commerce and digital payments, the payments market in the Middle East is diversifying. Whether you are a local consumer or an international merchant, it is crucial to understand the dominant payment methods in the region. In this article, we'll take a look at the top 10 most popular payment methods in the Middle East to help businesses and individuals better expand their business or optimise their consumer experience.

1. Cash (Cash on Delivery, COD)

In many countries in the Middle East (e.g. Saudi Arabia, UAE, Egypt), cash on delivery (COD) is still one of the mainstream payment methods. As some consumers have less trust in online payments, COD offers a higher level of transaction security. However, this method increases merchants' operating costs and the risk of returns.

Applicable countries: Saudi Arabia, UAE, Egypt, etc.

2. Credit/debit cards (Visa & Mastercard)

Visa and Mastercard are the most widely used international card organisations in the Middle East. Especially in the Gulf Co-operation Council (GCC) countries (e.g. UAE, Saudi Arabia), credit card penetration is high. Many e-commerce platforms and offline merchants support both types of card payments.

Applicable countries: GCC 6 predominantly

3. Mada (Saudi local bank card network)

Mada is Saudi Arabia's national debit card system and almost all debit cards issued by local banks are connected to the network. Supporting Mada is almost a must for merchants doing business in Saudi Arabia.

Country of application: Saudi Arabia

4. Apple Pay & Google Pay

With the proliferation of smartphones, Apple Pay and Google Pay are growing rapidly in high-income countries in the Middle East. One-click" mobile payments are particularly popular with young users in highly digitised markets such as the UAE and Saudi Arabia.

Applicable countries: UAE, Saudi Arabia, etc.

5. STC Pay (Saudi Arabia's e-wallet)

STC Pay is an e-wallet service launched by Saudi Telecom that offers P2P transfers, online shopping and more. It has become one of the leading digital wallets in the country due to its convenience and deep integration with local banks.

Applicable countries: Mainly covers Saudi Arabia

6. BenefitPay (Bahraini e-wallet) BenefitPay, launched by the Central Bank of Bahrain, is one of the country's leading mobile financial applications, supporting bill payments, P2P transfers and code payments.

Applicable areas. Widely used in Bahrain.

7. Fawry (a leading electronic payment platform in Emo) Fawry allows Emo and its users to perform services such as utility bill payment and online shopping via bank account/cash recharge with a large network of offline agents.

Applicable areas. The main products are sold in the United States and abroad.

8. Qatar National Bank (QNB) Pay The QNB Group's mobile application, which allows for contactless transactions in conjunction with bank cards, is particularly popular with Qataris.

Pressure range. Focused on the Cartel Market

9. OmanNet (Oman national transfer system) OmanNet enables fast and secure handling of capital flows between different business organisations and is particularly suited to corporate clients who want to make monthly payments to their customers.

Focused coverage: the entire territory of Anshu

10. Tabby & Spotii (buy now pay later BNPL service) Tabby is based in Dubai and Spotii is active throughout the Gulf region, both offering interest-free instalment plans to attract a large number of young consumers.

Core markets: GCC countries

Summary.
In the Middle East region, the means of payment is applied to many kinds of financial habits and technological development stages of the local enterprises in the same region to develop their business in the same area, and the Top 10 payment methods are not compatible with them.

Middle East Payments Market Trends and Merchant Advice

1. Core features of the Middle East payments market

• Cash dependency still high, but digitisation accelerating: While cash on delivery (COD) is still dominant, emerging methods such as digital wallets and buy now pay later (BNPL) are growing rapidly as e-commerce penetration increases and young consumers prefer convenient payments.
• Localised payments dominate: While international card organisations (Visa/Mastercard) are popular, local schemes like Saudi Mada and Egyptian Fawry are more trusted.
• Religious culture affects payment habits: The principles of Islamic finance prohibit interest (Riba), so Sharia-compliant interest-free instalment services (such as Tabby) are more acceptable.

2. How can merchants optimise their Middle East payment strategies?

(1) Mandatory Local Payment Methods

• Access to Mada and STC Pay in Saudi Arabia; support for Fawry in Egypt; integration of BenefitPay/QNB Pay in Gulf countries, etc. Neglecting homegrown programmes could result in up to 30% of lost orders.

(2) Flexibility to offer COD+digital payment combinations

• In order to reduce the cost pressure caused by COD, incentives such as "online prepayment discounts" can be introduced to gradually guide users to switch to e-payment.

(3) BNPL as a growth engine

• Buy-now-pay-later platforms such as Tabby and Spotii are growing at an annual rate of over 60% in the Middle East GMV, which is particularly suited to high unit-price goods (e.g. electronics, luxury goods). The "0% interest" promotional point can be highlighted when cooperating to comply with local regulations.

(4) Ensuring compliance and data security

• GCC countries have tightened financial regulations in recent years (e.g. Saudi Arabia's SAMA licence requirements) and need to ensure that all accessing payment gateways are PCI DSS certified and comply with local data storage regulations.

A look to the future: three major directions for payments in the Middle East in 2025

1. Super App Integration for Payments:
   • One-stop platforms like Careem (Careem Pay embedded in taxi app) and Noon (e-commerce + e-wallet) will be the trend.
2. Facilitation of cross-border payments:
   • Ripple blockchain technology has been trialled with UAE banks and is expected to lead to significant efficiency gains in cross-border B2B settlements.
3. Cash-to-Digitalpolicy impetus:
   • Saudi Arabia's "Vision2030" plan explicitly calls for a reduction in the proportion of cash transactions, and government subsidies may be further tilted towards digital wallets.

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