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GCC Financial Cards and Payments Market, By Type of Cards, By Type of Payments, By Type of Transactions, By Card Issuing Institution, Trend Analysis, Competitive Market Share & Forecast, 2018-2028

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    Report

  • 117 Pages
  • July 2022
  • Region: Middle East
  • Blueweave Consulting & Research Pvt Ltd
  • ID: 5647211

GCC Financial Cards and Payments Market to grow at a CAGR of 14.8% until 2028


GCC Financial Cards and Payments Market is expanding owing to governments’ initiatives to encourage digital payments, introduction of digital-only banks for SMEs, and the rapidly growing e-commerce market in the region.

This study forecasts the GCC Financial Cards and Payments Market size to grow at a CAGR of 14.8% between 2022 and 2028. The market size is booming because of the growing presence of foreign market players as well as the introduction of card payment services such as the RuPay card in the UAE, a shift in customer behavior from cash to card payments, and governments’ initiatives to launch government-backed payment apps that allow users to pay for government, public, and consumer services.

Favorable Trend in Contactless Payments


The rising trend for contactless payment, rising millennial propensity for credit cards, and steady rise in e-commerce due to increasing internet and smartphone penetration and rising income per capita are also expected to drive market expansion throughout the forecast period.

GCC Financial Cards and Payments Market - Technology Advancements


By simplifying payment transactions, a payment gateway functions as an intermediary between various e-commerce websites and banks. It safeguards the user's sensitive data, such as credit card numbers and bank account information, from fraudulent entities. It also employs the HTTPS protocol, which protects personal information during order submission and offers a variety of advantages such as a user-friendly interface, expense and loss management, and time efficiency. The use of payment gateways in the GCC region has expanded as a result of the increased use of mobile wallets and of developments in mobile payment technologies.

Segmental Information


GCC Financial Cards and Payments Market - By Payment Method


The Customer to Business (C2B) segment captured the largest market share in the GCC Financial Cards and Payment market in 2021, based on the kind of payment. The region's e-commerce activities have been driven by the increasing adoption of the internet and cellphones. In the UAE, e-commerce shopping has gained significant popularity. Consumers' increasing preference for online shopping as it provides a simple, engaging, and secure digital experience as well as an increase in the adoption of cashless payment and the COVID-19 pandemic are expected to further expand the market.

Impact of COVID-19 on GCC Financial Cards and Payments Market


The COVID-19 outbreak has a favorable impact on the market growth due to a favorable shift to contactless payments. The crisis has accelerated digital connectivity and promoted the adoption of digital payment and e-commerce solutions in the UAE and Saudi Arabia, resulting in robust growth in card payments. E-commerce’s convenience and comfort has increased in the volume of online buying. These factors are expected to drive the GCC Financial Cards and Payments Market throughout the forecast period.

Competitive Landscape


Visa, Mastercard, American Express, Citibank, HSBC, PayPal express checkout, HDFC Bank, Diners Club, Barclays, and Hyperpay are the major players in the GCC Financial Cards and Payments market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the GCC Financial Cards and Payments Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the GCC Financial Cards and Payments Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.


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Table of Contents

1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Country
2.5. Assumption & Limitation
3. Executive Summary
4. GCC Financial Cards & Payments Market Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape/Recent Development
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Intensity of Rivalry
5. GCC Financial Cards & Payments Market Overview
5.1. Market Size & Forecast by Value, 2018-2028
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Type
5.2.1.1. Card
5.2.1.1.1. Credit Card
5.2.1.1.2. Debit Card
5.2.1.1.3. Charge Card
5.2.1.1.4. Prepaid Card
5.2.2. By Type of Payments
5.2.2.1.1. B2B
5.2.2.1.2. B2C
5.2.2.1.3. C2C
5.2.2.1.4. C2B
5.2.2.1.4.1. E-Commerce Shopping
5.2.2.1.4.2. Payments at POS Terminals
5.2.2.1.4.3. Others
5.2.3. By Type of Transactions
5.2.3.1. Domestic
5.2.3.2. Foreign
5.2.4. By Card Issuing Institution
5.2.4.1. Banking
5.2.4.2. Non-Banking
5.2.5. By Country
5.2.5.1. Saudi Arabia
5.2.5.2. UAE
5.2.5.3. Qatar
5.2.5.4. Bahrain
5.2.5.5. Kuwait
5.2.5.6. Oman
6. Competitive Landscape
6.1. List of Key Players and Their Offerings
6.2. Market Share Analysis, 2021
6.3. Competitive Benchmarking, By Operating Parameters
6.4. Key Strategic Development (Merger, Acquisition, Partnership.)
7. Impact of COVID-19 on GCC Financial Cards & Payments Market Industry
8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
8.1. Visa
8.2. Mastercard
8.3. American Express
8.4. Citibank
8.5. HSBC
8.6. PayPal express checkout
8.7. HDFC Bank
8.8. Diners Club
8.9. Barclays
8.10. Hyperpay
8.11. Others
9. Key Strategic Recommendations
List Of Figures
Figure 1 GCC Financial Cards & Payments Segmentation
Figure 2 GCC Financial Cards & Payments Market Value Chain Analysis
Figure 3 Porter’s Five Forces Analysis
Figure 4 GCC Financial Cards & Payments Market Size, By Value (USD Million), 2018-2028
Figure 5 GCC Financial Cards & Payments Market Share, By Type, By Value, 2018-2028
Figure 6 GCC Financial Cards & Payments Market Share, By Type of Payments, By Value, 2018-2028
Figure 7 GCC Financial Cards & Payments Market Share, By Type of Transactions, By Value, 2018-2028
Figure 8 GCC Financial Cards & Payments Market Share, By Card Issuing Institution, By Value, 2018-2028
Figure 9 GCC Financial Cards & Payments Market Share, By Country, By Value, 2018-2028
Figure 10 Market Share Analysis, 2021
List Of Tables
Table 1 GCC Financial Cards & Payments Market Size, By Type, By Value, 2018-2028
Table 2 GCC Financial Cards & Payments Market Share, By Type, By Value, 2018-2028
Table 3 GCC Financial Cards & Payments Market Share, By Type of Payments, By Value, 2018-2028
Table 4 GCC Financial Cards & Payments Market Share, By Type of Transactions, By Value, 2018-2028
Table 5 GCC Financial Cards & Payments Market Share, By Card Issuing Institution, By Value, 2018-2028
Table 6 GCC Financial Cards & Payments Market Share, By Country, By Value, 2018-2028
Table 7 Key Players and Their Offerings
Table 8 Competitive Benchmarking, By Operating Parameters
Table 9 Merger Acquisition, Partnership, Joint-Ventures etc
Table 10 Visa Company Overview
Table 11 Visa Financial Overview
Table 12 Mastercard Company Overview
Table 13 Mastercard Financial Overview
Table 14 American Express Company Overview
Table 15 American Express Financial Overview
Table 16 Citibank Company Overview
Table 17 Citibank Financial Overview
Table 18 HSBC Company Overview
Table 19 HSBC Financial Overview
Table 20 PayPal express checkout Company Overview
Table 21 PayPal express checkout
Table 22 HDFC Bank Company Overview
Table 23 HDFC Bank Financial Overview
Table 24 Diners Club Company Overview
Table 25 Diners Club Financial Overview
Table 26 Barclays Company Overview
Table 27 Barclays Financial Overview
Table 28 Hyperpay Company Overview
Table 29 Hyperpay Financial Overview

Methodology

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