It shows that 39% of UAE consumers surveyed have experienced an online fraud attempt. Around a quarter of consumers (27%) have experienced phishing, while just under a fifth have experienced credit card fraud (19%) and receiving counterfeit goods (17%).
The same study shows that trust and usage of digital payments both in-store and online see no signs of ceasing as consumers still prefer them over cash, citing improved technology, and security measures as reasons why they still feel more secure with these methods of payment.
While ecommerce and contactless payments have increased in popularity and use since the start of the pandemic, paying by Cash on Delivery (COD) has declined (75%), while the use of digital payments (contactless cards and mobile wallets) for payment online or on delivery has almost doubled (by an average of 98%).
Nearly two-thirds of consumers (63%) have high level of confidence in digital payments for shopping in-store and payment on delivery. Top reasons consumers gave for their trust in contactless include convenience (60%), speed (59%), control (46%), avoiding human touch (56%), and innovative way to pay (48%).
Biometrically verified payments also scored high with consumers, with more than a third (67%) saying it is secure, and 60% saying it gives them complete control.
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