Page 22 - HyperPay Report - FEBRUARY 2024

2/22/24, 1:56 PM Customer Experience Excellence: How HyperPay enhances checkout processes - Middle East News 247
online purchasing journey. A perfect and streamlined checkout process can provide numerous

compelling advantages, including driving up conversion rates as well as leaving a lasting
impact on customers, thereby elevating consumer satisfaction and bolstering brand credibility.

It has been reported that around 42.9 per cent of all online purchases are done through
mobile devices, typically smartphones. Before the COVID-19 outbreak, the e-retail sector in

the Gulf Cooperation Council (GCC) region was projected to have a 12.2 per cent penetration

rate of offline retail in 2025. After the pandemic, the projected penetration rate increased to

about 16.3 per cent.

A recent Agility Logistics study stated that the Saudi e-commerce market generated a revenue

of USD 10 billion in 2023, making it the 28th largest online market globally.The Kingdom’s e-
commerce market is estimated at USD 13.61 billion in 2024 and is slated to reach USD 27.37

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billion, registering a CAGR of 15.01 per cent during the forecast period 2024-2029. In 2023,
the UAE’s e-commerce market was valued at USD 8856.18 million and is projected to grow at
a compound annual growth rate (CAGR) of 11.52 per cent to reach USD 16532.75 million

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over the forecast period of 2024-2029 . The growth of the e-commerce market is driven by a
combination of factors, notably the increased usage of the internet and a tech-savvy

population.

To assist companies involved in the world of e-commerce, several digital payment solution

providers are going above and beyond to innovate and deliver various ground-breaking
solutions that contribute to an enhanced checkout experience. For instance, HyperPay, a

leading payment gateway provider in the MENA region, has designed several innovative

solutions that significantly revolutionise checkout processes, enriching customer experiences

across various e-commerce platforms. By leveraging its cutting-edge technology and user-
friendly interface, the company promises a rapid, secure, and smooth checkout process for

both customers and businesses.

A striking feature that distinguishes HyperPay in the market is its support for multiple payment

methods. By utilising HyperPay’s solutions, customers can choose their preferred type of

payment option at checkout, including credit cards, debit cards, digital wallets, or bank

transfers. This flexibility enhances inclusivity and satisfaction by serving a wide range of
customers preferences and demands. In addition, it also provides one-click payment options,

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