The Cards and Payments Industry in Oman: Emerging Trends and Opportunities to 2020

  • ID: 3829559
  • Report
  • Region: Oman
  • 46 pages
  • GlobalData
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FEATURED COMPANIES

  • Bank Muscat
  • Bank Sohar
  • BankDhofar
  • HSBC Bank Oman
  • Mastercard
  • NBO
  • MORE
The Cards and Payments Industry in Oman: Emerging Trends and Opportunities to 2020

Summary:

Use of payment cards is gradually rising in Oman, though overall card use in the country is much lower than many of its peers. Frequency of use per card in Oman stood at 22.4 in 2016 - lower than Lebanon with 31.3, the UAE with 49.8, Kuwait with 54.9, Iran with 62.0, Saudi Arabia with 99.0 and Israel with 155.4. However, a number of initiatives have encouraged adoption of payment cards in the country, such as improvements to the payment infrastructure, new technology such as contactless and EMV, Sharia-compliant cards, and the government’s promotion of electronic payments.

As the payment infrastructure improves, convenience has emerged as a key driver in the debit card market. Instant card issuance is also a growing trend. BankDhofar launched an instant card-issuance service in September 2013, allowing customers to collect debit cards instantly when opening an account, and start using them immediately. In June 2015, Alizz Islamic Bank launched an instant card-issuance service at all its branches, helping to reduce PIN distribution costs and enhancing customer satisfaction.

Demand for premium payment cards is rising in the Gulf Cooperation Council (GCC), including Oman. Consumers have become more sophisticated, and cards are now an essential part of their lifestyles. Consumer demand for high-quality services and rewards is also rising, and banks are offering exclusive benefits and rewards to serve the most profitable consumers. In March 2015, Alizz Islamic Bank partnered with MasterCard to introduce the World Elite MasterCard in Oman.

Banks in Oman also serve corporate customers, including large businesses and SMEs. With the growing number of businesses in Oman, demand for commercial cards is expected to increase over the forecast period (2016-2020). Issuers such as Bank Muscat, BankDhofar, National Bank of Oman (NBO), Bank Sohar and Oman Arab Bank offer commercial cards, which provide exclusive dining, shopping, traveling and entertainment-related offers, free travel insurance and medical assistance and access to airport lounges.

The report 'The Cards and Payments Industry in Oman: Emerging Trends and Opportunities to 2020' provides top-level market analysis, information and insights into the Omani cards and payments industry.

In particular, this report enables the following:
  • Current and forecast values for each market in the Omani cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including credit transfers, direct debits, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the Omani cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape in the Omani cards and payments industry.
Companies mentioned in this report: Bank Muscat, NBO, BankDhofar, Bank Sohar, HSBC Bank Oman, Visa, MasterCard.

Scope:
  • This report provides a comprehensive analysis of the Omani cards and payments industry.
  • It provides current values for the Omani cards and payments industry for 2016, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Omani cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
Reasons to Buy:
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Omani cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Omani cards and payments industry.
  • Assess the competitive dynamics in the Omani cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Oman.
  • Gain insights into key regulations governing the Omani cards and payments industry.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Bank Muscat
  • Bank Sohar
  • BankDhofar
  • HSBC Bank Oman
  • Mastercard
  • NBO
  • MORE
1. EXECUTIVE SUMMARY
1.1. Market overview
1.2. Key facts
1.3. Top five industry events

2. PAYMENT INSTRUMENTS
2.1. Current payment environment

3. E-COMMERCE AND ALTERNATIVE PAYMENTS
3.1. E-Commerce market analysis
3.2. Alternative payment solutions
3.2.1. PayPal
3.2.2. CashU
3.2.3. Ooredoo Charge to Mobile
3.2.4. Fortumo

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY
4.1. Regulatory framework
4.2. Anti-money laundering and counter-terrorism financing (AML/CTF)
4.3. Foreign direct investment (FDI) regulations

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS

6. PAYMENT CARDS

7. DEBIT CARDS
7.1. Debit cards market analysis
7.2. Competition in the debit cards market
7.3. Debit cards comparison

8. PAY LATER CARDS
8.1. Pay later cards market analysis
8.2. Competition in the pay later cards market
8.3. Pay later cards comparison

9. APPENDIX
9.1. Abbreviations
9.1.1. Supplementary data
9.2. Definitions
9.3. Methodology
9.4. Bibliography
9.5. Further reading

List of Tables:
Table 1: Oman, Key Facts, 2016
Table 2: Oman, Regional Benchmarking of Payment Cards, 2016
Table 3: Oman, Mode of Entry of Foreign Banks
Table 4: Oman, Debit Cards Comparison and Key Features, 2016
Table 5: Oman, Gold Credit Cards Comparison and Key Features, 2016
Table 6: Oman, Premium Credit Cards Comparison and Key Features, 2016
Table 7: Oman, Payment Instrument Transaction Values (OMR Billion), 2012-2016
Table 8: Oman, Payment Instrument Transaction Values (US$ Billion), 2012-2016
Table 9: Oman, Payment Instrument Transaction Volumes (Million), 2012-2016
Table 10: Oman, Payment Cards in Circulation by Type (Thousand), 2012-2020
Table 11: Oman, Volume of Payment Card Transactions (Million), 2012-2020
Table 12: Oman, Value of Payment Card Transactions (OMR Billion), 2012-2020
Table 13: Oman, Value of Payment Card Transactions (US$ Billion), 2012-2020
Table 14: Oman, Debit Cards in Circulation (Million), 2012-2020
Table 15: Oman, Debit Card Transaction Volumes, 2012-2020
Table 16: Oman, Debit Card Transaction Values (OMR), 2012-2020
Table 17: Oman, Debit Card Transaction Values (US$), 2012-2020
Table 18: Oman, Debit Cards in Circulation by Scheme (Thousand), 2012-2016
Table 19: Oman, Debit Card Transaction Values by Scheme (OMR Million), 2012-2016
Table 20: Oman, Debit Card Transaction Values by Scheme (US$ Million), 2012-2016
Table 21: Oman, Debit Card Transaction Values by Issuer (OMR Million), 2012-2016
Table 22: Oman, Debit Card Transaction Values by Issuer (US$ Million), 2012-2016
Table 23: Oman, Pay Later Cards in Circulation (Thousand), 2012-2020
Table 24: Oman, Pay Later Card Transaction Volumes, 2012-2020
Table 25: Oman, Pay Later Card Transaction Values (OMR), 2012-2020
Table 26: Oman, Pay Later Card Transaction Values (US$), 2012-2020
Table 27: Oman, Pay Later Cards in Circulation by Scheme (Thousand), 2012-2016
Table 28: Oman, Pay Later Card Transaction Values by Scheme (OMR Million), 2012-2016
Table 29: Oman, Pay Later Card Transaction Values by Scheme (US$ Million), 2012-2016
Table 30: Oman, Pay Later Card Transaction Values by Issuer (OMR Million), 2012-2016
Table 31: Oman, Pay Later Card Transaction Values by Issuer (US$ Million), 2012-2016
Table 32: Key Definitions

List of Figures:
Figure 1: Oman, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016
Figure 2: Oman, Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016
Figure 3: Oman, E-Commerce Value
Figure 4: Oman, Population and Economic Indicators
Figure 5: Oman, ATMs, POS Terminals and Household Consumption
Figure 6: Oman, Payment Cards Transaction Value and Cards in Circulation, 2012-2020
Figure 7: Oman, Debit Card Penetration and Turnover Per Card
Figure 8: Oman, Debit Cards Scheme and Issuer Transaction Value Share, 2016
Figure 9: Oman, Pay Later Card Penetration and Turnover Per Card
Figure 10: Oman, Pay Later Cards Scheme and Issuer Transaction Value Share,
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  • Bank Muscat
  • NBO
  • BankDhofar
  • Bank Sohar
  • HSBC Bank Oman
  • Visa
  • Mastercard
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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