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• SMBs are optimistic about the future and recognise the importance of contactless payments in meeting consumer expectations : The vast majority ( 88 %) of SMBs in the UAE are optimistic about the future of their business . This includes 64 % ( compared to 50 % globally ) who are very optimistic , which is the highest proportion of all markets surveyed . Nearly half ( 49 % vs . 40 % globally ) of SMBs in the UAE say accepting contactless payments is among their top investment areas to meet consumer expectations . The majority ( 84 %) of SMBs in the UAE believe that customers will continue to prefer contactless payments as much or more than they do today .

• The shift to contactless payments is becoming more permanent : Nearly all ( 92 %) consumers in the UAE say COVID-19 has permanently changed their payment habits ( compared to 68 % globally ). Nearly three in four ( 73 %) UAE consumers would not shop at a store that does not accept contactless payments ( compared to 44 % globally ). One in three ( 33 %) UAE consumers said they had not used cash in the last week – the second highest among all markets .

• Continued relevance of omnichannel commerce : More than half ( 56 %) of UAE consumers say they are at least somewhat more likely to shop in person compared to last summer – the highest among all markets .

Unlocking access to the digital economy

Recognising that greater digitisation of commerce can bring enormous benefits to small businesses , Visa has continued to deepen and localise its commitment to SMBs in the UAE over the last 18 months to help them revitalise and reinvent their businesses .

Visa has been working with several UAE banks to pilot Tap to Phone solutions that make it

THE MAJORITY ( 84 %) OF SMBS IN THE UAE BELIEVE THAT CUSTOMERS WILL CONTINUE TO PREFER CONTACTLESS PAYMENTS AS MUCH OR MORE THAN THEY DO TODAY .