Digital advancements in payment technology have transformed the way we shop and transact, making these experiences seamless and efficient. Today, commerce knows no bounds, and personalized data is readily accessible. Effortless money transfers, streamlined in-app purchases, and AI-powered insights have become integral to our daily lives.

This growth is largely driven by the rise of digital payments, unleashing a wave of economic expansion across Central and Eastern Europe, the Middle East and Africa (CEMEA). Digital payments are expected to reach $36.75 trillion in total transaction value by 2029, reflecting a 15.90% annual growth rate from 2025.

However, this surge in digital payments has also opened up new avenues for fraud and scams, creating a critical need for security measures and constant consumer vigilance. Visa is committed to ensuring that digital payments passing through its networks are not only seamless, but secure.

Digital Payments Take Center Stage

The shift towards digital transactions is undeniable. From mobile wallets to online shopping platforms, digital payments have become deeply ingrained in our daily lives. This trend is reflected in Visa’s own data, with billions of transactions processed annually across its network.

The convenience of digital payments is a key factor prompting this growth, as highlighted in Visa’s recent Stay Secure study of 5,800 adults across 17 Central and Eastern Europe, the Middle East, and Africa (CEMEA) markets, which projects a 74% increase in digital payments usage in the coming year. This is primarily driven by the sheer convenience of digital transactions: 70% of consumers find them faster and easier to use, 68% appreciate the 24/7 availability, and 60% value the ability to easily send funds to loved ones.

Empowered Consumers, Secure Transactions

Despite this positive momentum, the issue of trust remains central to the digital payments landscape’s growth trajectory. While robust security measures are essential, consumer vigilance also plays a crucial role in mitigating fraud.

Fortunately, there is a growing awareness among CEMEA consumers, with 97% having taken precautions to secure their payments. This includes avoiding suspicious links (60%), protecting login credentials (58%), and setting up transaction alerts (48%).

Two-Factor Authentication: Shield Against Fraud

Security is paramount, and it is reassuring to see that 83% of consumers who use digital payments feel more secure when two-factor authentication is required. This added layer of protection, whether it’s text confirmation, biometric scan, or push notification, provides invaluable peace of mind in an increasingly complex digital environment.

Securing the Future of Digital Payments

The digital era presents both immense opportunities and significant challenges. While the convenience and speed of digital payments are transforming the economic landscape, the rise in fraud and scams demands a concerted effort to enhance security and build consumer trust.

Visa plays a leading role in this effort, investing in cutting-edge technologies, advocating for responsible AI regulation, and empowering consumers through education and transparency. Through strategic partnerships and collaborative efforts – payment providers, financial institutions, businesses, and government stakeholders – we can create a digital payments ecosystem that is both secure and convenient, unlocking the full potential of the digital economy while mitigating risks.

Read the latest Stay Secure report here and visit VisaMiddleEast.com to find out more about Visa’s Stay Secure campaign.