UAE Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape | UAE Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape -
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UAE Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

: Tuesday, July 15 - 2014 @ 14:46

ResearchMoz announces that it has published a new study The United Arab Emirates (UAE) Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape.

The UAE card payments channel grew both in terms of volume and value during the review period (2009−2013). In terms of the number of cards in circulation, the channel increased from 10.3 million in 2009 to 18.2 million in 2013, at a review-period compound annual growth rate (CAGR) of 15.31%. Over the forecast period (2014−2018), the card payments channel is anticipated to register a CAGR of 8.57%, to reach 28.4 million cards in 2018.

In terms of transaction value, the card payments channel increased from Dhs226.5 billion (US$61.7 billion) in 2009 to Dhs487.6 billion (US$132.8 billion) in 2013, at a review-period CAGR of 21.13%. The card payments channel is anticipated to increase further from Dhs529.2 billion (US$144.1 billion) in 2014 to Dhs673.9 billion (US$183.5 billion) in 2018, at a forecast-period CAGR of 6.23%.

The report provides top-level market analysis, information and insights on the UAE cards and payments industry, including:
Current and forecast values for each category of the UAE cards and payments industry, including debit cards, credit cards, charge cards and prepaid cards.

Comprehensive analysis of the industry’s market attractiveness and future growth areas. Analysis of various market drivers and regulations governing the UAE cards and payments industry. Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by banks and other institutions in the market. Comprehensive analysis of consumer attitudes and buying preferences for cards. The competitive landscape of the UAE cards and payments industry.

The UAE government’s initiative to promote cashless transactions, the growing popularity of payment cards based on traditional Islamic principles, the introduction of contactless technology, and the retail, e-commerce and tourism industries growth all contributed to the expansion of the UAE card payments channel in volume and value terms during the review period.

The UAE’s well-developed telecommunications infrastructure allowed it to record one of the highest mobile penetration rates in the Middle East and North Africa (MENA) region in 2013. Banks such as Dubai Islamic Bank (DIB), Emirates NBD, and Abu Dhabi Commercial Bank (ADCB) partnered with merchants and online retailers to provide secure payment facilities, enabling customers to pay via mobile phone or online.

Mobile payments (m-payments) grew from Dhs86.2 million (US$23.5 million) in 2009 to Dhs1.8 billion (US$477.2 million) in 2013 at a CAGR of 112.35% and are anticipated to reach Dhs11.1 billion (US$3.0 billion) in 2018, at a forecast-period CAGR of 38.05%.

E-commerce is increasing as a result of improvements in telecommunication infrastructure, payment and security systems, and an increased consumer willingness to shop online. E-commerce registered a review-period CAGR of 32.71%, rising from Dhs5.6 billion (US$1.5 billion) in 2009 to Dhs17.5 billion (US$4.8 billion) in 2013.

In line with an increase in number of outbound travelers, outbound travel expenditure
among the retail and corporate segments increased from Dhs59.8 billion (US$16.3 billion) in 2009 to Dhs65.0 billion (US$17.7 billion) in 2013, and is anticipated to increase further over the forecast period to reach Dhs99.1 billion (US$27.0 billion) in 2018, fuelling the growth of travel cards.

Scope
This report provides a comprehensive analysis of the UAE cards and payments industry.
It provides current values for the UAE cards and payments industry for 2013, and forecast figures for 2018.

It details the different economic, infrastructural and business drivers affecting the UAE cards and payments industry.

It outlines the current regulatory framework in the industry.
It details the marketing strategies used by various banks and other institutions.
It profiles the major banks in the UAE cards and payments industry.

Reasons to buy
Make strategic business decisions using top-level historic and forecast market data related to the UAE cards and payments industry and each market within it.

Understand the key market trends and growth opportunities within the UAE cards and payments industry.

Assess the competitive dynamics in the UAE cards and payments industry.

Gain insights in to the marketing strategies used for selling various card types in the UAE.

Gain insights into key regulations governing the UAE cards and payments industry.

Key highlights
The UAE card payments channel grew both in terms of volume and value during the review period (2009−2013). In terms of the number of cards in circulation, the channel increased from 10.3 million in 2009 to 18.2 million in 2013, at a review-period compound annual growth rate (CAGR) of 15.31%. Over the forecast period (2014−2018), the card payments channel is anticipated to register a CAGR of 8.57%, to reach 28.4 million cards in 2018.

In terms of transaction value, the card payments channel increased from Dhs226.5 billion (US$61.7 billion) in 2009 to Dhs487.6 billion (US$132.8 billion) in 2013, at a review-period CAGR of 21.13%. The card payments channel is anticipated to increase further from Dhs529.2 billion (US$144.1 billion) in 2014 to Dhs673.9 billion (US$183.5 billion) in 2018, at a forecast-period CAGR of 6.23%.

The UAE government’s initiative to promote cashless transactions, the growing popularity of payment cards based on traditional Islamic principles, the introduction of contactless technology, and the retail, e-commerce and tourism industries growth all contributed to the expansion of the UAE card payments channel in volume and value terms during the review period.

The UAE’s well-developed telecommunications infrastructure allowed it to record one of the highest mobile penetration rates in the Middle East and North Africa (MENA) region in 2013. Banks such as Dubai Islamic Bank (DIB), Emirates NBD, and Abu Dhabi Commercial Bank (ADCB) partnered with merchants and online retailers to provide secure payment facilities, enabling customers to pay via mobile phone or online.

Mobile payments (m-payments) grew from Dhs86.2 million (US$23.5 million) in 2009 to Dhs1.8 billion (US$477.2 million) in 2013 at a CAGR of 112.35% and are anticipated to reach Dhs11.1 billion (US$3.0 billion) in 2018, at a forecast-period CAGR of 38.05%.

E-commerce is increasing as a result of improvements in telecommunication infrastructure, payment and security systems, and an increased consumer willingness to shop online. E-commerce registered a review-period CAGR of 32.71%, rising from Dhs5.6 billion (US$1.5 billion) in 2009 to Dhs17.5 billion (US$4.8 billion) in 2013.
In line with an increase in number of outbound travelers, outbound travel expenditure among the retail and corporate segments increased from Dhs59.8 billion (US$16.3 billion) in 2009 to Dhs65.0 billion (US$17.7 billion) in 2013, and is anticipated to increase further over the forecast period to reach Dhs99.1 billion (US$27.0 billion) in 2018, fuelling the growth of travel cards.

Related Reports:
Insight Report: Investors in Cards and Payments
Consumers’ growing preference for mobile devices, such as smartphones and tablets, and increasing internet penetration encouraged service providers to build payment solutions based around mobile devices.

Technological improvements in cloud computing and the use of open application programming interfaces (APIs) are also supporting the emergence of cost-effective solutions for cashless payments. The increased revenue potential due to the low cost of innovative payment solutions and the burgeoning market for digital payments are attracting investments from venture firms and participants in the payments industry, such as financial institutions, technology vendors and card scheme providers.

Investments in e-commerce and online payments are the preferred investment sector, followed by mobile payments and card processing services. An increase in e-commerce sales activities and expected further expansion has created strong revenue generation potential for investors and payment solution developers alike. New market entrants are experimenting with social media to capitalize on opportunities in using social networks as a platform for conducting e-commerce activities.

There is also an increased focus on international money transfers and peer-to-peer (P2P) domestic transactions. Investments in mobile wallets also gained momentum in 2013, with their adoption expected to improve over the next five years.

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Tuesday, July 15- 2014 @ 14:46 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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