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Visa ’ s 2021 Small Business Recovery study shows that 82 % of merchants surveyed see digital payments as a necessary investment in business recovery while 86 % of UAE retailers surveyed expect e-commerce will continue to grow post-pandemic .
When asked about payment habits during the pandemic , more than half of UAE merchants polled ( 60 %) said contactless payments were the preferred payment option among their customers , up from only 18 % of merchants who at the start of the pandemic said contactless payment
Commenting on the findings of the study , Shahebaz Khan , Visa ’ s General Manager for the UAE , said : “ It is encouraging to see that merchants feel optimistic about business recovery in 2021 and the swift adoption of digital payments and recognition of what their customers want – whether it is offering a range was customers ’ preferred option . Nearly a third of respondents ( 31 %) said they offered contactless payments as an option to respond to the growing demand for the payment option during the pandemic .
More than a third of retailers ( 38 %) in the UAE that were surveyed said they have established an online presence in response to COVID-19 . Nearly nine in 10 ( 86 %) are confident that online shopping will remain a preference well after the crisis . of digital payment options , home delivery or promotions – has been pivotal in them shifting gears from survival mode to recovery .
“ UAE retailers are leading the way in showing how to translate insights into action and considering half of business owners ( 54 %) are reliant on their small business as a primary or only source of income , this urgency is palpable . At Visa , we continue to work in lockstep with our bank and industry partners to support local merchants ’ recovery needs .” �
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