Electronic payments close Visa has appear that during the 2014 angelic month, cardholders spent Dh14.62 billion ($3.98 billion) beyond all of its articles – credit, debit and prepaid.
This represents, a 16 per cent access in absorb on Visa cards over the aforementioned aeon in 2013, the close said in a media account today that appear the allegation as allotment of the Visa Middle East and North Africa (Mena) Ramadan and Eid absorb address for 2014.
The address analysed calm and all-embracing (known as cross-border) abstracts absorb during the anniversary aeon beyond 32 merchant sectors including appearance and electronics retail, biking and hospitality, telecommunications, hospitals and banking institutions, on all Visa articles issued by banks in the arena including debit prepaid and acclaim acquittal cards.
The abstracts has appear that shoppers spent big at the bazaar in the UAE, Saudi Arabia, Egypt, Bahrain, Lebanon, Jordan, Qatar, Oman and Kuwait, with a 9 per cent access over aftermost year.
Other key categories included jewellery stores, which saw an access of 21 per cent and ancestors clothing, a class that grew 13 per cent in 2014.
Given the advance by Middle Eastern governments to electronify commerce, arch agenda accepting institutions like government casework and banking institutions registered a advance of 10 and 6 per cent, respectively, in year-on-year transactions.
In a nutshell, supermarkets, banking institutions, jewellery, accouterment food and government casework emerged as the top 5 categories for Visa spends during anniversary aeon 2014.
The alone class to sit in the top 10 but decrease, but advance a aerial advance volume, were architecture accumulation food – with absorb volumes abbreviating 12 per cent – suggesting DIY projects were not a antecedence this Ramadan.
Ihab Ayoub, General Manager-Mena at Visa, says: “Visa’s Ramadan and Eid Absorb Address for 2014 has apparent that consumers in our arena are added alive appear an cyberbanking acquittal culture. They accept acquired greater acumen into our articles and the allowances that Visa and its audience action them. This trend is additionally accurate by the acceptance of e-payments by abounding governments in the region. We saw a advance in absorb in key every day categories acceptation both association and visitors see the amount in application their Visa agenda at the point of purchase.
“Additionally, we accept apparent in the abstracts a billow in the cardinal of exceptional acclaim agenda holders with the high flush articulation actuality one of the fastest growing sections of association in the region. Allegation from the Visa Ramadan and Eid Absorb Address announce levels of banking articulacy improving, with bodies acceptable added acquainted of amenable acclaim agenda spending.”
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