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Cypriots Prefer Contactless Payments Amid Digital Shift

A recent study highlights a significant shift in Cypriots’ payment preferences, with a marked increase in contactless payments. This trend, driven by convenience and security, underscores the growing digitalisation of financial transactions in Cyprus.

Contactless payments have become the preferred method for many Cypriots, especially for everyday transactions like retail purchases and dining. The convenience of tapping a card or smartphone and the reduced physical contact, accelerated by the COVID-19 pandemic, are key factors.

Cypriot banks have facilitated this transition by upgrading payment infrastructure and promoting contactless benefits. Many now offer contactless-enabled cards as standard, and there has been a rise in contactless payment terminals across the island. Enhanced security features, such as encryption and tokenisation, reduce fraud risks, adding to their appeal.

Digital wallets and mobile payment solutions like Apple Pay and Google Pay have further driven adoption. These platforms allow quick, secure payments via smartphones, resonating with tech-savvy consumers.

This shift reflects broader trends in digitalisation and financial innovation in Cyprus. As consumers seek more convenient and efficient services, businesses offering contactless payment options are likely to see increased satisfaction and loyalty.

However, ensuring accessibility for all, including the elderly and less tech-savvy, is essential. Financial institutions and businesses must provide education and support to help all consumers benefit from digital payments.

UAE Job Trends For 2025: High-Demand And Lucrative Roles Revealed

The UAE’s flourishing asset management sector, bolstered by rising investor interest, regulatory advancements, and a surge in Family Offices and Ultra High Net Worth Individuals (UHNWIs), is driving demand for banking and finance talent.

Roles in fundraising and institutional sales are particularly sought after, with professionals in these fields highly valued for their regional networks and industry expertise, according to Michael Page’s UAE 2025 Salary Guides. The comprehensive report, which includes insights from 17 industries, offers an overview of current hiring trends, salary benchmarks, and the recruitment challenges businesses face.

Banking And Finance In High Demand

The report highlights a significant need for compliance professionals, especially those with experience in Dubai Financial Services Authority (DFSA) and Financial Services Regulatory Authority (FSRA) regulations. Chief Compliance Officers and Money Laundering Reporting Officers (MLROs) are among the most lucrative roles in the sector. Jon Ede, Regional Director UAE at Michael Page, pointed out that in 2024, the UAE’s workforce grew by 9%, and the number of new companies increased by 14.5%, showing the success of the nation’s strategic initiatives.

Sales, Marketing, And IT Growth

The sales and marketing sector has seen steady growth, especially in B2B industries like technology, real estate, energy, and logistics. Roles such as Business Development Manager, Chief Commercial Officer, and Strategic Sales Director are in demand, with a premium placed on business development, key account management, and communication skills.

The IT sector, meanwhile, continues to evolve rapidly, with high demand for positions like Head of Software Development, Full-Stack Software Engineer, Agile Product Manager, Senior DevOps Engineer, and Digital Adoption Specialist. The report underscores the significant shift in the UAE talent market for digital professionals in recent years.

Navigating The Skills Shortage

The study also highlights the growing skills shortage, with businesses grappling to find candidates with the right expertise. A staggering 37% of business leaders reported challenges in finding skilled talent, while nearly a third (30%) struggled with employee retention. Nearly half (48%) of employers also cited aligning salary expectations with candidates as a key obstacle.

Ede suggests that businesses can overcome these challenges by offering competitive packages that include benefits, career development opportunities, and workplace incentives, positioning themselves as attractive employers in the competitive UAE job market.

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