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UAE ranks seventh globally in mobile payments

Country also ranked first in terms of access to Smartphones with up to 62 per cent of consumers owning one

The UAE maintained the first position among Arab countries and the seventh globally for mobile payments, according to MasterCard Mobile Payments Readiness Index, which gauges the preparedness and receptivity of countries for mobile payments instead of plastic cards.

The UAE is considered the major centre for remittance and financial payments, UAE-based Al Arabiya reports.

The country achieved 37.9 points compared with 33.2 points, which is the readiness rate of the 34 surveyed countries for mobile payment.

The UAE also ranked first in terms of access to Smartphones, with up to 62 per cent of consumers owning them, and an annual growth rate of up to 18 per cent, according to a survey conducted by Google.

In addition, the country also ranked first regionally and 23rd globally in the Networked Readiness Index issued by the World Economic Forum’s Global Information Technology Report 2015. The country moved up one position in the index compared with last year.