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Despite growing awareness and precautions, 49% of UAE consumers have been victims of online scams, with 15% falling prey multiple times, according to Visa’s latest research. The comprehensive study reveals that while UAE residents are increasingly vigilant, significant vulnerabilities remain in the digital payment landscape.

Rising Digital Payment Adoption Meets Growing Security Concerns

The ninth annual Stay Secure study, which surveyed 5,800 adults across 17 CEMEA markets, found that 99% of UAE consumers now actively take safety measures to protect their online transactions. This demonstrates increased awareness as digital payments continue to gain momentum across the Emirates.

“The digital payments landscape is changing rapidly, and consumers across the UAE are embracing its convenience while becoming more watchful about security,” said Charles Lobo, senior vice president, regional risk officer, Central and Eastern Europe, Middle East, and Africa (CEMEA), Visa.

While 59% of surveyed consumers express confidence in their ability to identify fraud attempts, a striking 92% worry that friends or family might fall for scams. Notably, 90% believe that Gen X digital payment users face the highest risk of online scams.

Scam Attempts Remain Prevalent

Despite increased awareness, scam attempts continue to proliferate across the UAE:

• 62% of respondents have been approached by someone requesting money transfers on their behalf
• Only 30% accept personal responsibility when falling victim to scams
• 55% attribute blame to others when scams occur

The study highlights a concerning trend: even as consumers become more informed, scammers develop increasingly sophisticated techniques to exploit vulnerabilities.

Red Flags and Protective Measures

UAE consumers are becoming more skilled at identifying potential scams. The research shows that suspicious password reset requests following alleged data breaches represent the biggest red flag, with 68% of respondents ranking it among the top three most suspicious messages.

Nearly all surveyed consumers (99%) maintain caution regarding suspicious requests:

• 61% decline to respond to emails requesting money transfers
• 59% refuse to share card or account credentials
• 48% have set up text message alerts for account transactions

Digital Payment Landscape in the UAE

The UAE digital payment ecosystem continues to thrive with various payment methods gaining popularity:

Payment Method	Usage Rate
Card payments	67%
Mobile payments	59%
Bank transfers via apps	59%
Peer-to-peer (P2P)	34%

Seventy percent of respondents find digital payments quicker and simpler than alternative methods, while 66% value the ability to make payments anytime and anywhere.

Building Trust in Digital Payments

As digital payments gain traction, retailers, banks, and payment processors can strengthen consumer trust through various security measures:

• 86% of UAE consumers feel safer when required to confirm identity via text codes
• 56% appreciate visible security icons during the payment process

“We are delighted to launch Visa’s latest Stay Secure research for the UAE which underscores the important role retailers and financial institutions play in building and maintaining consumer trust in digital payments,” said Salima Gutieva, Visa’s VP and Country Manager for UAE.

The research provides valuable insights that can shape industry strategies to enhance consumer trust, protect the payments system, and support the UAE government’s efforts to grow the digital economy.

Despite challenges, the outlook for digital payments in the UAE remains positive, with 77% of respondents expressing trust in digital payments and 81% anticipating increased usage over the next year.

Preparing for a Secure Digital Payment Future

As the digital payment landscape evolves, both consumers and businesses must adapt to new security challenges. Education remains the foundation of fraud prevention, with industry collaboration playing a crucial role in building a safer payment ecosystem.

With proper education and vigilance, UAE consumers can continue to enjoy the benefits of digital payments while minimizing security risks in this fast-paced digital economy.

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Key Takeaway: While digital payments continue to gain popularity in the UAE with 81% of consumers planning to increase usage, nearly half have fallen victim to scams. Enhanced security measures and consumer education are essential to build trust and protect users in this rapidly expanding digital economy.

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