PayBy - UnionPay - cashless ecosystem - UAE - Techxmedia

PayBy, UnionPay partner to build cashless ecosystem in the UAE

UnionPay International (UPI) has enabled card acceptance in 180 countries and regions, with issuance in more than 70 countries and regions, through partnerships with over 2500 institutions worldwide. UPI offers the world’s largest cardholder base high-quality, cost-effective, and secure cross-border payment services, as well as convenient local services to a growing number of global UnionPay cardholders and merchants.

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Shankar Garg - Managing Director MEA - Xebia - UAE banks - UAE banking sector - TECHxMedia

How UAE banks can remain competitive: Xebia

Various opportunities, problems, and issues related to banking trends have been observed by the organisation. A transition to digital and quick payments is one of them. The Middle East digital payments market is expected to develop at a CAGR of 6.5 percent from 2020 to 2025, owing to a sharp increase in e-commerce sales, widespread internet access, and high smartphone adoption.

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