Bahrain Cards and Payments - Opportunities and Risks to 2026

GlobalData's 'Bahrain Cards and Payments - Opportunities and Risks to 2026' 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 transfers, mobile wallets, cards, cash, direct debits, and cheques during the review-period (2018-22e).

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 (2022e-26f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData'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 transfers, mobile wallets, cards, 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.

Scope

• The Bahrain instant payment service Fawri+ was launched by the BENEFIT Company as part of the Electronic Fund Transfer System (EFTS) (the country's payment system for interbank fund transfers) under the supervision of the Central Bank of Bahrain (CBB). The system allows users to make instant payments 24 hours a day, seven days a week, 365 days a year. Funds are settled within 30 seconds. The system enables peer-to-peer, consumer-to-business, business-to-business, and consumer-to-government payments as well recuring bill payments. As of September 2021, 26 EFTS participants supported fund transfers via Fawri+.
• Similar to other Gulf Cooperation Council countries, Bahrain introduced the Wage Protection System in the private sector, mandating private employers to pay wages electronically (via bank account or prepaid card) to their employees instead of via cash. The final phase - covering companies with one to 49 employees - became effective from January 1, 2022. This initiative will help drive financial inclusion in the country and boost demand for products such as bank accounts and payment cards.
• Amid growing adoption of contactless technology, payments via wearables are being introduced in Bahrain. In September 2021, BBK and Visa added support for Garmin Pay and Fitbit Pay, allowing the bank's customers to pay for goods and services using Garmin and Fitbit smartwatches. Fitbit Pay enables users to make contactless payments using a Fitbit smartwatch. Users link their BBK Visa debit card to the Fitbit Pay mobile app and set up a PIN. When making payments, users select the wallet icon in the watch, enter the PIN, and bring their device near to the POS terminal to confirm the payment. Garmin Pay follows a similar process.

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.