The Value of Acceptance
Visa’s “Value of Acceptance’ explores small merchants’ attitudes towards digital payments and their impact on business growth.
Visa's latest "Value of Acceptance" study offers valuable insights into how nano, micro, and small merchants perceive digital payments and the role these play in their business growth.
The study surveyed two distinct groups of merchants - those who have embraced digital payments for 1-4 years, and retailers who still exclusively deal in cash transactions. The survey represented a wide variety of store types, including quick service restaurants, small grocery stores, tailors, fashion/apparel stores, and laundries. The businesses ranged from nano-sized (2 or fewer employees) to small (11-49 employees).
The findings of the study underscore the importance of digital payment acceptance in driving the growth of small businesses. As the GCC continues to advance its digital commerce agenda, Visa’s 'Value of Acceptance' study highlights the transformative power of digital payments for the retail sector.
Beyond the obvious benefits of security, speed, and convenience, digital payments also provide invaluable data insights. As more consumers turn to digital payments, the data collected can help merchants tailor communication, target offers more effectively, implement loyalty programs, and enhance the overall customer experience. These factors are key in boosting business profitability and efficiency.
For a deeper look into the findings for each country involved in the study, click on the links below:
- UAE Results: EN, AR
- KSA Results: EN, AR
- Oman Results: EN, AR
- Qatar Results: EN, AR
- Kuwait Results: EN, AR
- Bahrain Results: EN, AR
Infographics: