Saudi Arabia Cards and Payments Report 2024-2028: Opportunities and Risks in BNPL, P2P, E-Commerce, Alternative Payments, Cards, In-Store, Innovations, Payment Infrastructure and Regulation - ResearchAndMarkets.com

The "Saudi Arabia Cards and Payments: Opportunities and Risks to 2028" report has been added to ResearchAndMarkets.com's offering.

The report provides detailed analysis of market trends in the Saudi Arabia cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, cash, credit transfers, 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 (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

Key Highlights

• The growing number of fintech companies and digital-only banks will drive competition in the banking space, helping boost debit card holding. In 2023, two out of three licensed digital banks (i.e. STC Bank and D360) launched the pilot phase of their digital banking services, according to FSDP annual report 2023. These digital banks are considered the new players in the banking sector with their licenses having been granted in 2021-22. During the pilot phase, digital banks are seeking to ensure that all systems are implemented and ready for a full launch in 2024.
• One trend observed is that consumers in Saudi Arabia are increasingly opting for loans on credit cards. According to the Key Economic Developments report published by the Central Bank in Q4 2023, credit card loans increased by 17.3% compared to Q4 2022. Credit card loans do not have a fixed repayment period, and borrowers can repay the borrowed amount over time, as long as they make at least the minimum monthly payments, thereby offering flexibility of repayment.
• Consumers are increasingly using contactless cards for payments. Contactless card transactions have been on the rise in the country. According to the Central Bank's monthly statistical bulletin published in April 2024, contactless card payment transaction volume using mada cards increased from 809.2 million in 2019 to 4.6 billion in 2023. In terms of value, SAR353.1 billion ($94.2 billion) worth of contactless card transactions using mada cards were made in 2023 - up from SAR85.1 billion ($22.7 billion) in 2019.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Saudi Arabia along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including cards, credit transfers, 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.

Key Topics Covered:

1. Executive Summary

2. Market Overview

3. Payment Instruments

4. Card-Based Payments

5. Ecommerce Payments

6. In-store Payments

7. Buy Now Pay Later

8. Mobile Payments

9. P2P Payments

10. Bill Payments

11. Alternative Payments

12. Payment Innovation

13. Job Analysis

14. Payment Infrastructure and Regulation

15. Appendix

Companies Featured

• Al Rajhi Bank
• SNB
• Riyad Bank
• Saudi British Bank
• ANB
• Bank Albilad
• Banque Saudi Fransi
• Bank AlJazira
• The National Commercial Bank
• Samba Financial Group
• mada
• Visa
• Mastercard
• American Express

For more information about this report visit https://www.researchandmarkets.com/r/btt5dp

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