Bahrain Cards and Payments: Opportunities and Risks to 2028

The ‘Bahrain Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Bahraini cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfer, card, cash, direct debits and cheques during the review-period (2020-24e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025f-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Bahraini cards and payments industry, including:

• Current and forecast values for each market in the Bahraini cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including credit transfer, card, cash, direct debits and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Bahraini cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Bahraini cards and payments industry.

Key Highlights

• In September 2023, the Minister of Industry and Commerce of Bahrain inaugurated eFada, a complimentary ecommerce website certification program designed to enhance consumer safety and combat fraud. The display of the eFada emblem indicates that a business is a legitimate entity, possessing the requisite license for operation. The Minister of Industry and Commerce reported that, as of August 2024, the number of ecommerce businesses that had applied for eFada certification totaled 224. Initiatives of this nature are instrumental in fostering a secure online purchasing environment.
• Contactless payment options are becoming more popular among consumers. According to the central bank, the volume of contactless payments using cards increased from 31.9 million in 2020 to 168.9 million in 2024, while the value of contactless card payments increased from BHD438.7 million ($1.2 billion) in 2020 to BHD2.5 billion ($6.6 billion) in 2024. According to the same source, the volume of contactless payments increased from 13.1 million in January 2024 to 16.6 million in December 2024, whereas the value increased from BHD377.9 million ($1 billion) to BHD437.6 million ($1.2 billion) between the same time period.
• In view of rising preferences for flexible repayment options, in February 2024, Bahrain-based ila Bank introduced the Easy Payment Plan (EPP) feature in its banking app. This service provides a 0% interest rate on installments and is applicable to all in-store and online transactions of BHD100 ($265.96) and above. Customers have the flexibility to choose a duration of three, six, nine, or 12 months for their monthly installment payments. To access this feature, credit card holders can simply navigate to the credit card section of the ila Bank app. From there, they can click on the EPP icon and select the qualifying transaction along with the desired tenure.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Bahrain along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including credit transfer, card, cash, direct debits and cheques .
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Bahraini cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Bahraini cards and payments industry.
• Assess the competitive dynamics in the Bahraini cards and payments industry.
• Gain insights into marketing strategies used for various card types in Bahrain.
• Gain insights into key regulations governing the Bahraini cards and payments industry.