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Market Research Report
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1108413

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

Published: | Blueweave Consulting & Research Private Limited | 117 Pages | Delivery time: 2-3 business days

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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
Published: July 29, 2022
Blueweave Consulting & Research Private Limited
Content info: 117 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

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.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent 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.

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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.

About Us

BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.

Product Code: BWC22249

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

Note: Financial in information in case of non-listed companies will be provided as per availability

The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

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