Checkout.com, a renowned global payments solution provider, has unveiled its latest product, “Intelligent Acceptance”

New research from payment solutions provider Checkout.com has revealed that half of UAE residents are using digital wallets for the first time.According to the survey, security is still the most important factor for UAE residents when shopping online, with nearly 40% of respondents trusting digital wallets as much as banks. Indeed, the future looks bright for digital wallets, with 48% of respondents.

Checkout.com released its Demystifying Crypto: Shedding Light on the Adoption of Digital Currencies for Payments in 2022 report.

The eCommerce market in MENAP is growing at an exponential rate, according to the report. In 2020, 47% of customers predicted that they would buy online more regularly in the coming year. In 2021, about 83 percent of respondents indicate they’ll keep or even increase their present level of eCommerce spending through 2022, indicating a permanent shift in consumer behavior.

That is largely consistent with an earlier Checkout.com report from September 2020 indicating that consumers’ embrace of online shopping is more of a long-term behavior change rather than a temporary shift resulting from the COVID-19 pandemic.