GCC Financial Cards & Payments Market Research
A recent research report published by MarkNtel Advisors reveals that the GCC Financial Cards & Payments Market is projected to register 11.2% CAGR during 2023-28. The report encompasses a comprehensive analysis of the industry, entailing latest trends, developments, drivers, restraints, challenges, & opportunities, along with its projected growth trajectory through all segments & geographies in the future.
In the analysis, stakeholders can find insights into the major aspects that are primarily contributing to the swift market expansion, wherin the information is presented in the form of diagrams, pie charts, tables, graphs, & other pictorial representations. Using these representations, the investors can understand the changing dynamics of the GCC Financial Cards & Payments Market and plan & lay out strategies to expand their visibility, product portfolio, & customer base and generate massive revenue in the industry.
The historical period considered in the study is 2018-21, the base year 2022, and the forecast period, as cited above, is 2023-28.
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Key Reasons to Buy this Analysis
-This report is a thorough compilation of factors responsible for driving the GCC Financial Cards & Payments Market dynamics, projecting its prominent drivers, growth restraints, opportunities, challenges, and emerging and high-potential segments & geographies, among others.
-The study also presents a detailed review of the leading companies operating in the GCC Financial Cards & Payments Market, where analysts have closely profiled leaders and put together data comprising their profiles, recent developments, prominent business strategies, initiatives, and mergers & acquisitions, among other parameters.
-Stakeholders or investors can get a hold of a detail-driven, accurate, and reliable information associated with the latest trends in the industry and strategically plan their investments in the future.
-Nonetheless, with the availability of estimation of funds put in by private firms & governments for the swift expansion of this industry along with insights into market expansion across each segment & geographic location, is also covered in this report.
Key Driver: Expanding E-commerce Industry Across the Region
The growing e-commerce industry across the GCC region has well-supported the financial cards and payments market in the historical years. The countries, such as the UAE, Saudi Arabia, Qatar, etc., have witnessed a significant surge in online retail sales due to high investments by the global retail players in the lucrative market GCC. For instance, in 2020, Carrefour and Lulu Group, two of the largest retailers in the Middle East, launched their online shopping portals in the UAE. The countries, including the UAE, Qatar, Kuwait, and Bahrain have almost 100% of the population with internet and mobile phone access. Due to this, the transactional volume through payments made via financial cards, such as debit cards, prepaid cards, credit cards, etc., has increased considerably. According to the International Trade Administration (ITA), e-commerce sales in the UAE recorded USD3.9 billion in revenues during 2020, a jump of 53% from 2019. Moreover, the Dubai Chamber of Commerce and Industry forecasts e-commerce to generate USD8 billion in sales by the year 2025. Hence, it is expected that the ever-growing e-commerce market in the region would promulgate the demand for financial cards and payments in the forecast years.
GCC Financial Cards & Payments Market Segmentation:
The segmentation analysis in the report enlighten s stakeholders with information upon light the overall performance of the GCC Financial Cards & Payments Market across different segments & geographies, using which they can strategize their investments to expand the brand visibility, product portfolio, & customer base and yield significant profits in the coming years.
Market Divided into, By Type of Card
-Credit Card
-Debit Card
-Charge Card
-Prepaid Card
Market Divided into, By Type of Payments
-B2B
-B2C
-C2C
-C2B
–E-Commerce Shopping
–Payments at POS Terminals
–Others
Market Divided into, By Type of Transactions
-Domestic
-Foreign
Market Divided into, By Card Issuing Institution
-Banking
-Non-Banking
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The GCC Financial Cards & Payments Market is highly fragmented, and geographically, it expands across:
-Saudi Arabia
-The UAE
-Qatar
-Bahrain
-Kuwait
-Oman
Competitive Landscape of the GCC Financial Cards & Payments Market
This most prominent section of the report entails detailed insights into company profiles, investments & revenue generated, strategic initiatives, geographical presence, and production or service capacities, among other aspects. Every information stated here is a result of a thorough examination of key players & their hold in the industry to enable investors to make informed decisions in the future.
-Visa
-Mastercard
-American Express
-Citibank
-HSBC
-PayPal express checkout
-HDFC Bank
-Diners Club
-Barclays
-Hyperpay
-Others
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