How Technology is Accelerating Digital Equality in Diverse Markets

The rise of smartphones and digital technologies has transformed our daily lives, contributing to the evolution of connected consumers.

- Khalifa AI Shamsi

With a few taps, we can manage our finances and access education and entertainment; everything is seamlessly integrated and available roundthe-clock.

But digital transformation has also revealed a complex reality. While many in developed markets are deeply and seamlessly immersed in a sophisticated, connected way of life, there are still populations in emerging economies who are only just beginning to adopt these technologies, leapfrogging the desktop era entirely.

This digital divide risks heightening existing inequalities, as those who lack access miss out on the opportunities afforded by digital services. Yet, it also presents an opportunity to create a more equitable future.

Global companies have a shared responsibility to empower underserved communities by giving them the tools to enable the shift from a cash-based economy to a digital economy. The role of fintech is crucial in that endeavor, as cash remains the leading offline payment method in the Middle East and Africa (MEA). However, it is declining fast from 70% in 2019 to 58% in 2023, and an estimated 26% by 2027, according to Worldpay’s Global Payment Report 2024 .