Times are changing, and conventional payment methods donít cut it anymore when making everyday transactions. Online payment methods are at the centre of this stir as they are slowly taking over the market. Thereís no better showcase of this than the Arabian world, which has experienced drastic radical changes thanks to these online payment methods.†
Paypal and other ebanks have dominated the scene in many Arab countries, with many citizens, corporations and businesses adopting them. Why have these ebanks found their way and even thrived here? One can argue that itís due to their flexibility and convenience or their wide range of applications. However, whatís certain is that online payment methods are definitely a game changer when carrying out transactions. Here are some of the ways online payments are used in the Arabian world.
- Playing Online Casinos
The gambling sector in the Arab world has evolved over the years, and players seeking such entertainment can always enjoy the best offshore sites. Gaming has become even easier with casinos accepting Ebanks and Paypal for deposits. Nowadays, you can use PayPal in online casinos, and enjoy fast, safe and secure transactions.
But, the history of Paypal in the Arabian world goes way back. PayPal launched in Arabic countries in 2014 and became an instant hit. Even though it started as a payment method for ecommerce, online casinos quickly adapted it. Popular Arabic casinos offered PayPal as a payment option and this attracted even more players who knew transactions would become even easier.†
With PayPal deposits are instant and withdrawals take less than 2 days to process depending on the casino. So, besides being a secure method, Arabic players can also count on its speed. By making a quick PayPal deposit, players can enjoy different casino games such as slots, roulette, blackjack or poker, and cashout easily once done.†
- Shopping Online
You donít have to go to the store physically to buy goods; no, you can do it comfortably from your home and at your convenience. With the tap of a button, customers can order goods online and even read reviews of the commodities before making a purchase. Itís no surprise Arabic clients are no exception, with e-commerce sites such as Amazon, Shein and Noon.com taking root in the Middle East.
In Arabian countries, you can pay for goods ordered online through PayPal, Visa and MasterCard. However, thereís a tailored payment method, CashU, specifically for use in MENA (the Middle East and North Africa). Many vendors in predominantly Arabic regions use CashU as a payment method to draw many young online customers. CashU has become increasingly popular in countries such as Saudi Arabia with limited access to credit cards.
- Sending and Receiving Money
Millions of people worldwide send and receive cash from friends, family and clients daily. The primary concern for these people is how safe, fast and secure the transaction process is. Popular international and Arab-based ebanks have been on the forefront to ensure money sent to users in the Arab regions is received on time.†
With the increased outsourcing by business enterprises due to skill diversity, certain online payment options such as PayPal, Skrill and Wise have been deployed to assist in the remuneration of employees from the Middle East or North Africa. Similarly, employers from Arab regions can avail remittances to employees from other parts of the world.
- Paying for Online subscriptions
Arabs, like anyone else on the globe, are big fans of entertainment such as music and movies. The streaming giant Disney+ recently set foot on Arab soil and was welcomed with utmost enthusiasm. Other streaming services that have found their way into this dense market are Netflix, Amazon Prime Video, Starz Play Arabia, OSN+ and Apple TV. Music streaming is also popular in the Arabic community as people there can listen to their favourite artists on Spotify and iTunes.†
You can enjoy all these services by paying for your favourite subscriptions depending on your budget through PayPal, Visa or other online banking options. These payment methods have also enabled people in Arab countries to make magazine subscriptions to always keep them up to date for an affordable fee.
- Paying for Utilities
Water and electricity are a crucial part of modern society. How can one, as a resident of an Arabic country, pay for these essential services? Other than making the payments physically, you can pay for your bills conveniently online. No need for long queues in the banking hall anymore, you can pay your electricity or water bill online using eBanks. It saves you a lot of time and itís also very secure.†
Arabic countries are embracing online payments more each day and for various activities. Thanks to advanced technology in some of the top Arab countries which are at the centre of the new modern world, we can only expect that the future of payments will be fully online.
- As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman and Sikkim, prohibit gambling
- Land-based casinos are legalized, with certain guidelines, in Goa and Daman, as per the Goa, Daman and Diu Public Gambling Act 1976††
- Land-based casinos, Online gambling and E-gaming (games of chance) are legalized in Sikkim under the Sikkim Online Gaming (Regulation) Rules 2009
- Only some Indian states have legalized online/regular lotteries as per and subject to the conditions laid down by state laws. Kindly refer to the same here
- Horse racing and betting on horse racing, including online betting, is permitted only in a licensed premise in select states. Kindly refer to the 1996 Judgement by the Supreme Court Of India here and for more information
- This article does not endorse or express the views of Qrius and/or any of its staff.
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