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The MENA (Middle East and North Africa) region is the fastest growing in terms of mobile connections, with a large percentage of the population owning mobile phones. This presents an opportunity to explore our direct carrier billing service (DCB) as a high conversion and convenient payment method for content providers and merchants to expand the distribution of their digital services and grow their revenue in this market.
In the MENA region, it’s much more common for people to rely on mobile payments rather than credit or debit cards. The use of mobile payment methods has continuously been on the rise, and in fact, 19% of MENA region consumers admit to using less cash in the past year. Plus, 64% of consumers use at least one digital payment option, including DCB (Fintechnews, 2023). As credit card ownership is not widespread in these countries, with only a small percentage of the population owning a credit card, options like DCB come along as a reliable and practical solution. We detail below some of the key e-commerce and content trends driving consumption and digital revenue in some of the countries in this region.
According to Statista, the revenue in the fashion segment is projected to reach US$359.40 million this year, with an annual growth rate of 10.23% expected from 2023 to 2027.
Meanwhile, the Bahraini Beauty Care ecommerce market is predicted to reach US$29.2 million by the end of the year, accounting for 21.2% of the Personal Care ecommerce market. The market is expected to continue to grow in the coming years, providing ample opportunities for businesses operating in these segments.
The UAE’s Digital Media Market is projected to reach US$554.50 million by the end of 2023, with Video Games representing 55% of the revenue, with 23% of users aged 16 to 64 owning game consoles. Social media is a significant driver of digital media consumption in the country, with platforms like Instagram and Snapchat being particularly popular.
Virtual reality is an emerging trend gaining traction, with a year-on-year increase of 26.2% of users aged 16 to 64 who own virtual reality devices. With such a strong focus on digital media, businesses looking to expand into the UAE should consider offering a wider range of digital payment options, particularly those that can be used for in-app swift purchases of video games or purchases in social media marketplaces.
The Digital Media Market in Saudi Arabia is projected to generate US$2.19 billion in revenue this year. The largest segment of the market is video games, however, other segments such as e-books and streaming services are also expected to grow significantly.
Despite the growth of the digital market space in Saudi Arabia, credit card ownership is not widespread, making it challenging for consumers to make online payments, and therefore opening an opportunity for other digital payment methods to be adopted and thrive.
While video games have been the leading segment in Qatar’s digital media market, there are other segments worth paying attention to. The country’s digital media market is projected to reach US$176.40 million in revenue by the end of 2023, with video games accounting for the largest share at 50%. Nevertheless, segments such as social media, music, and streaming services have been gaining popularity in recent years and are expected to contribute significantly to the market’s growth in the coming years.
With a high percentage of internet users in Qatar, there is a growing demand for digital content, and businesses can tap into this trend by offering a wide range of mobile payment options.
DCB is incredibly versatile as it can be used to monetize a range of digital content from music to lifestyle and even physical goods. It can also be used for in-app purchases, virtual currency, and items purchasing in gaming. Additionally, it can drive a better experience for users to access exclusive and premium content like streaming platforms, movie releases, or live sports events. Lastly, a growth area for DCB is ticketing, where the number of use cases is quite extensive and aligns with the secure and convenient experience this method provides.
In fact, with Direct Carrier Billing there is no need for long registration processes, intermediate steps or even passwords; users can securely click to purchase any content in a few seconds.
Our commercial and technical teams are ready to assist you monetize your digital content in the Mena region.
Operating in the digital payments market, Go4Mobility is committed to driving sustained growth within the mobile payments market for online sellers and merchants, developing an increasingly convenient and secure experience for consumers.
If you want to know more about the opportunities and market rules to grow your digital revenue in this region, or are interested in Go4Mobility ‘s payment solutions, contact us at https://go4mobility.com/en/contacts/ or visit https://go4mobility.com/en/payment-solutions/direct-carrier-billing/
Data from Statista, and Datareportal
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