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Emerging Opportunities in Oman's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape - Product Image

Emerging Opportunities in Oman's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

  • ID: 2631652
  • August 2013
  • Region: Oman
  • 69 Pages
  • Timetric

FEATURED COMPANIES

  • American Express
  • Bank Muscat
  • BankDhofar
  • Diners Club
  • MasterCard
  • National Bank of Oman
  • MORE

Steady economic growth, a rise in the volume of the banked population and improvements in payment infrastructure drove the growth of Oman's card payments channel during the review period (2008–2012). In terms of the volume of cards in circulation, Oman's card payments channel posted a review-period CAGR of 14.26%. This was mainly driven by growth in the credit and charge card categories. The total volume of cards in circulation increased from 1.9 million cards in 2008 to 3.3 million in 2012. Over the forecast period (2013–2017), the card payments channel is forecast to grow at a CAGR of 5.22%, from 3.6 million cards in 2013 to 4.4 million in 2017. Although cash continues to be an important part of the overall payments system, it is increasingly being displaced by the card payments channel. To capitalize on consumer preferences, banks and card issuers have adopted various marketing strategies to encourage customers to increase card payments. Common strategies include offers, product discounts, reward points and insurance coverage. Banks are also rewarding their customers through monthly raffle draws. One such innovative program is HSBC's Mandoos Savings scheme under which READ MORE >

FEATURED COMPANIES

  • American Express
  • Bank Muscat
  • BankDhofar
  • Diners Club
  • MasterCard
  • National Bank of Oman
  • MORE

1 Executive Summary

2 Market Attractiveness and Future Prospects of the Cards and Payments Industry

3 Analysis of Oman Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 Increasing volume of internet users
3.1.2 Interconnected payment infrastructure driving the card usage
3.1.3 Contactless technology
3.1.4 Growing volume of ATMs
3.1.5 Increasing volume of POS terminals
3.2 Business Drivers
3.2.1 Growing retail sector encouraging retail mall expansion
3.2.2 E-commerce gaining momentum due to favorable economic conditions
3.2.3 Growth in mobile commerce
3.3 Consumer Drivers
3.3.1 Increasing disposable income
3.3.2 Consumer confidence to drive card payments
3.3.3 Urbanization
3.4 Macroeconomic Drivers
3.4.1 Stable GDP growth
3.4.2 Increasing per capita income
3.4.3 Declining unemployment rate with increased government spending
3.5 Card Fraud Statistics
3.6 Regulatory Framework

4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.1.1 Retail segment
4.1.2 Corporate segment
4.2 Consumer Preference
4.2.1 Price
4.2.2 Services
4.2.3 Convenience

5 Competitive Landscape and Industry Dynamics
5.1 Overview of Payment Channels
5.1.1 Check payments
5.1.2 Credit transfers
5.1.3 Card payments
5.2 Debit Cards Category Share
5.2.1 By bank
5.2.2 By scheme
5.3 Credit cards category share
5.3.1 By bank
5.3.2 By scheme

6 Strategies Adopted by Key Operators
6.1 Marketing and Product Strategy
6.1.1 Debit cards
6.1.2 Credit cards
6.1.3 Prepaid cards
6.2 Pricing Strategies

7 Size and Growth Potential of Card Payments Channel
7.1 Category Share Analysis by Type of Cards
7.2 Total Channel Size and Forecast of Card Payments Channel
7.2.1 Analysis by volume of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Cards Category Size and Forecast
7.3.1 Analysis by volume of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Charge Card Category Size and Forecast
7.4.1 Analysis by volume of cards
7.4.2 Analysis by transaction value
7.4.3 Analysis by volume of transactions
7.4.4 Analysis by frequency of use
7.5 Credit Cards Category Size and Forecast
7.5.1 Analysis by volume of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by transaction volume
7.5.4 Other key performance indicators

8 Company Profiles, Product, and Marketing Strategies
8.1 Bank Muscat
8.1.1 Key financials
8.1.2 Card portfolio
8.1.3 Strategies
8.2 National Bank of Oman
8.2.1 Key financials
8.2.2 Card portfolio
8.2.3 Strategies
8.3 BankDhofar
8.3.1 Key financials
8.3.2 Card portfolio
8.3.3 Strategies
8.4 Oman Arab Bank
8.4.1 Key financials
8.4.2 Card portfolio
8.4.3 Strategies
8.5 HSBC Bank Oman S.A.O.G
8.5.1 Key financials
8.5.2 Card portfolio
8.5.3 Strategies

9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables
Table 1: Cards Offered to HNWIs in Oman by Various Banks and Key Product Features
Table 2: Cards Offered to Online Shoppers in Oman by Various Banks and Key Product Features
Table 3: Oman Card Payments Channel by Category of Card (Thousands), 2008–2017
Table 4: Oman Card Payments Channel Size by Volume of Cards (Million), 2008–2017
Table 5: Oman Card Payments Channel Size by Transaction Value (OMR Billion), 2008–2017
Table 6: Oman Card Payments Channel Size by Transaction Value (US$ Billion), 2008–2017
Table 7: Oman Card Payments Channel Size by Volume of Transactions (Million), 2008–2017
Table 8: Oman Debit Cards Category Size by Volume of Cards (Million), 2008–2017
Table 9: Oman Debit Cards Category Size by Transaction Value (OMR Billion), 2008–2017
Table 10: Oman Debit Cards Category Size by Transaction Value (US$ Billion), 2008–2017
Table 11: Oman Debit Cards Category Size by Volume of Transactions (Million), 2008–2017
Table 12: Oman Debit Cards Category Frequency of Use, 2008–2017
Table 13: Oman Charge Cards Category Size by Volume of Cards (Thousands), 2008–2017
Table 14: Oman Charge Cards Category Size by Transaction Value (OMR Million), 2008–2017
Table 15: Oman Charge Cards Category Size by Transaction Value (US$ Million), 2008–2017
Table 16: Oman Charge Cards Category Size by Volume of Transactions (Thousands), 2008–2017
Table 17: Oman Charge Cards Category Frequency of Use, 2008–2017
Table 18: Oman Credit Cards Category Size by Volume of Cards (Thousands), 2008–2017
Table 19: Oman Credit Cards Category Size by Transaction Value (OMR Million), 2008–2017
Table 20: Oman Credit Cards Category Size by Transaction Value (US$ Million), 2008–2017
Table 21: Oman Credit Cards Category Size by Volume of Transactions (Million), 2008–2017
Table 22: Oman Credit Cards Category Frequency of Use, 2008–2017
Table 23: Oman Credit Cards Category Average Transaction Value (OMR), 2008–2017
Table 24: Oman Credit Cards Category Average Transaction Value (US$), 2008–2017
Table 25: Bank Muscat's Key Financial Indicators (OMR Thousands), 2011 and 2012
Table 26: Bank Muscat – Cards Offered and Key Features
Table 27: National Bank of Oman's Key Financial Indicators (OMR Thousand), 2011 and 2012
Table 28: National Bank of Oman's – Cards Offered and Key Features
Table 29: BankDhofar's Key Financial Indicators (OMR Thousands), 2011 and 2012
Table 30: BankDhofar – Cards Offered and Key Features
Table 31: Oman Arab Bank's Key Financial Indicators (OMR Thousands), 2011 and 2012
Table 32: Oman Arab Bank – Cards Offered and Key Features
Table 33: HSBC Bank Oman's Key Financial Indicators (OMR Thousands), 2011 and 2012
Table 34: Oman Arab Bank – Cards Offered and Key Features

List of Figures
Figure 1: Oman – Growth of Various Card Categories (%), 2008–2017
Figure 2: Oman Cards and Payments Industry Drivers
Figure 3: Volume of Internet Users in Oman (Million), 2008–2012
Figure 4: Volume of ATMs in Oman, 2008–2017
Figure 5: Volume of POS Terminals in Oman (Thousands), 2008–2017
Figure 6: GCC Countries' Retail Sales (US$ Billion), 2011
Figure 7: Urban and Rural Population in Oman (Million), 2008–2017
Figure 8: GDP Growth Rate (%) in Oman, 2008–2017
Figure 9: Per Capita Income Growth in Oman (OMR), 2008–2012
Figure 10: Oman Card Fraud Statistics (Million), 2008–2012
Figure 11: Customer Segmentation of Card Payments Channel in Oman
Figure 12: Various Types of Cards Offered by Banks in Oman
Figure 13: Zeinah Credit Card Offered by Bank Muscat in Oman
Figure 14: Share of Different Payment Channels in Oman (Million), 2008 And 2012
Figure 15: Value and Growth of Check Payments (OMR Billion) in Oman, 2008–2012
Figure 16: Value and Growth of Credit Transfer Transactions (OMR Million) in Oman, 2008–2012
Figure 17: Value and Growth of Card Payment Transactions (OMR Billion) in Oman, 2008–2012
Figure 18: Oman Debit Card Category Share by Bank (%), 2011
Figure 19: Oman Debit Card Category Share by Scheme (%), 2011
Figure 20: Oman Credit Cards Category Share by Bank (%), 2011
Figure 21: Oman Credit Cards Category Share by Scheme (%), 2011
Figure 22: Oman Population Segmentation (%), 2013
Figure 23: Bank Sohar's Sahara Surprises Promotion, 2013
Figure 24: Comparison Of Annual Fees and Interest Rates of Credit Cards in Oman
Figure 25: Oman Card Payments Channel by Category of Card (%), 2008–2017
Figure 26: Oman Card Payments Channel Size by Volume of Cards (Million), 2008–2017
Figure 27: Oman Card Payments Channel Size by Transaction Value (OMR Billion), 2008–2017
Figure 28: Oman Card Payments Channel Size by Volume of Transactions (Million), 2008–2017
Figure 29: Oman Debit Cards Category Size by Volume of Cards (Million), 2008–2017
Figure 30: Oman Debit Cards Category Size by Transaction Value (OMR Billion), 2008–2017
Figure 31: Oman Debit Cards Category Size by Volume of Transactions (Million), 2008–2017
Figure 32: Oman Debit Cards Category Frequency of Use, 2008–2017
Figure 33: Debit Card Transactions at ATM and POS Terminals (Million), 2008–2017
Figure 34: Oman Charge Cards Category Size by Volume of Cards (Thousands), 2008–2017
Figure 35: Oman Charge Cards Category Size by Transaction Value (OMR Million), 2008–2017
Figure 36: Oman Charge Cards Category Size by Volume of Transactions (Thousands), 2008–2017
Figure 37: Oman Charge Cards Category Frequency of Use, 2008–2017
Figure 38: Oman Credit Cards Category Size by Volume of Cards (Thousands), 2008–2017
Figure 39: Oman Credit Cards Category Size by Transaction Value (OMR Million), 2008–2017
Figure 40: Oman Credit Cards Category Size by Volume of Transactions (Million), 2008–2017
Figure 41: Oman Credit Cards Category Frequency of Use, 2008–2017
Figure 42: Oman Credit Cards Category Average Transaction Value (OMR), 2008–2017

- American Express
- Bank Muscat
- BankDhofar
- Diners Club
- MasterCard
- National Bank of Oman
- Oman Arab Bank
- Visa

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