The UAE is on a fast track in adopting digital banking and cashless payments and the pandemic has accelerated the digital drive. Image Credit: Supplied

Dubai: Invest in contactless – or drop by the wayside. Retailers in the UAE will need to spend more on allowing all manner of contactless payments to not risk being overlooked by shoppers.

Because 73 per cent of UAE consumers would not shop at a store that does not accept contactless payments (compared to 44 per cent globally), according to a new survey by the payment services company Visa.

And cash is proving a distant memory for more consumers with one in three (33 per cent vs. 21 per cent globally) saying have not used cash in the last week - the second highest among all markets.

And 92 per cent of UAE consumers affirm that COVID-19 has permanently changed their payment habits (compared to 68 per cent worldwide).