Fintech’s in UAE is experiencing a momentous growth, driven by a favorable business environment, the increasing adoption of digital technologies, and the government’s efforts to promote innovation in the financial sector.
With such a dynamic and rapidly growing industry, it is important for companies to have strong leadership to navigate the opportunities and challenges that come with it. In order to meet the consumer requirements predicted for the year ahead.
The UAE is a prime destination for startups, especially for fintech companies. The country is considered the world’s top fintech hub in terms of innovation, market size, and development potential. With over 134 fintech companies and more than 2,000 employees operating in the UAE, the country offers a thriving ecosystem for startups to grow and thrive. Dubai alone is home to over 80 fintech startups, making it one of the leading financial technology clusters in the region.
One of the most significant opportunities for UAE eCommerce businesses is the potential to expand in new markets like Saudi Arabia, where online shopping and eCommerce is on the rise. With the Saudi government’s Vision 2030 plan and the increasing penetration of internet and smartphones, the eCommerce market in Saudi Arabia is expected to grow at a CAGR of more than 15% during 2021-2026.
Tap Payments’ expertise in this market, combined with its seamless and secure payment products, can help UAE eCommerce businesses tap into this vast potential and successfully expand their reach across the region.