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    Covid-19 also drove the adoption of neo banks in the Middle East, with accelerated digitalization in both banking and regulators.


    The total value of digital payment transactions in the UAE reached $18.50 billion in 2020.


    The 2021 Stay Secure Survey conducted in association with Dubai Police and Dubai Economy, reveals that cash usage is unlikely to return to pre-pandemic levels.


    UPI-based digital transactions rose by a whopping 110% in volume and 109% in value between June 2020 and June 2021

    -Ernst Young