The number of digital B2B payments in the MEA region is forecast to nearly double between 2023 and 2028, as businesses move away from cash money. This is according to research from Capgemini Research Institute for Financial Services Analysis. In 2023 - the most recent year estimated by the source - 2.8 billion cashless transactions were carried out in the Middle East and Africa. The source is not clear whether this includes both domestic and cross-border payments. It does point towards the importance of Swift and ISO 20022, as these initiatives hope to improve B2B cross-border payments in regions such as EMEA (Europe, Middle East, Africa).
Total number of cashless B2B and retail payment transactions in Middle East, Africa (MEA) from 2014 to 2023, with forecasts for 2024 and 2028
(in billions)
The B2B digital transaction volume for MEA is projected a 10.7 percent increase in 2024, and a 12.7 percent CAGR for 2023-2028; The retail digital transaction volume for MEA is projected a 15.7 percent increase in 2024, and a 13.7 percent CAGR for 2023-2028.
Supplementary notes
The source adds that commercial payments consists of payments between businesses, and do not include individuals. Figures for "retail" have been calculated by Statista.
The source does not separate between Middle East and Africa, nor does it provide figures for individual countries.
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Capgemini, & Statista. (October 22, 2024). Total number of cashless B2B and retail payment transactions in Middle East, Africa (MEA) from 2014 to 2023, with forecasts for 2024 and 2028 (in billions) [Graph]. In Statista. Retrieved May 03, 2025, from https://www.statista.com/statistics/1551580/mea-number-of-cashless-payments-in-b2b/
Capgemini, und Statista. "Total number of cashless B2B and retail payment transactions in Middle East, Africa (MEA) from 2014 to 2023, with forecasts for 2024 and 2028 (in billions)." Chart. October 22, 2024. Statista. Accessed May 03, 2025. https://www.statista.com/statistics/1551580/mea-number-of-cashless-payments-in-b2b/
Capgemini, Statista. (2024). Total number of cashless B2B and retail payment transactions in Middle East, Africa (MEA) from 2014 to 2023, with forecasts for 2024 and 2028 (in billions). Statista. Statista Inc.. Accessed: May 03, 2025. https://www.statista.com/statistics/1551580/mea-number-of-cashless-payments-in-b2b/
Capgemini, and Statista. "Total Number of Cashless B2b and Retail Payment Transactions in Middle East, Africa (Mea) from 2014 to 2023, with Forecasts for 2024 and 2028 (in Billions)." Statista, Statista Inc., 22 Oct 2024, https://www.statista.com/statistics/1551580/mea-number-of-cashless-payments-in-b2b/
Capgemini & Statista, Total number of cashless B2B and retail payment transactions in Middle East, Africa (MEA) from 2014 to 2023, with forecasts for 2024 and 2028 (in billions) Statista, https://www.statista.com/statistics/1551580/mea-number-of-cashless-payments-in-b2b/ (last visited May 03, 2025)
Total number of cashless B2B and retail payment transactions in Middle East, Africa (MEA) from 2014 to 2023, with forecasts for 2024 and 2028 (in billions) [Graph], Capgemini, & Statista, October 22, 2024. [Online]. Available: https://www.statista.com/statistics/1551580/mea-number-of-cashless-payments-in-b2b/
