The second Visa study "Where is cash used?" in the Emirates showed that about a quarter of all transactions in the country are made in cash.
This study was conducted as part of Visa's initiative to stimulate the use of electronic payments instead of cash. It revealed that cash transactions account for approximately 24%, which is a significant indicator.
One of the reasons why people still prefer to use cash is the absence of understanding the advantages of electronic payments. Additionally, some prefer cash due to a lack of trust in electronic systems.
A Visa representative stated: "We see potential for further reduction in cash transactions in the Emirates. We will continue to work with partners and regulators to ensure the safety and convenience of electronic payments, making them more attractive to consumers."
