February 1, 2018, Al Arabiya News Studios: Dr. Anas Najdawi Associate Professor and Head of E-Business Department, Faculty of Management at Canadian University Dubai spoke about Digital Payments Technologies and trends in GCC. The interview was held in the light of the Saudi Arabia Monetary Authority (SAMA) preparing to launch two strategic initiatives through MADA relating to digital payment. The interview involved Dr. Anas discussing these initiatives together with digital payments technologies and trends worldwide and in GCC.
The first initiative is related to activation of the online purchasing service through a “MADA” bank card to include electronic purchases from both local and international shopping websites.
The second initiative involves the activation of smart devices payment service through the near-range communication technology NFC which also includes the activation of the service on all bank cards issued by banks operating in Kingdom of Saudi Arabia, as well as the credit cards.
The integration of digital payments in nations with both developed and developing economies, addresses critical issues related to broad economic growth that enables individuals to access financial services, according to the World Bank report.
According to a survey by Juniper research foundation, global digital payments are expected to exceed $ 4.7 trillion by 2019, twice the value of digital payments by the end of 2014, estimated at $ 2.5 trillion.
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