The Cards and Payments Industry in Kuwait: Emerging Trends and Opportunities to 2020
Timetric’s 'The Cards and Payments Industry in Kuwait: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Kuwaiti cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments and payment cards during the review period (2011–2015).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together Timetric’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
Timetric’s 'The Cards and Payments Industry in Kuwait: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Kuwaiti cards and payments industry, including:
Current and forecast values for each market in the Kuwaiti cards and payments industry, including debit card, credit and charge cards.
Detailed insights into payment instruments including checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
E-commerce market analysis.
Analysis of various market drivers and regulations governing the Kuwaiti cards and payments industry.
Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
Comprehensive analysis of consumer attitudes and buying preferences for cards.
The competitive landscape in the Kuwaiti cards and payments industry.
This report provides a comprehensive analysis of the Kuwaiti cards and payments industry.
It provides current values for the Kuwaiti cards and payments industry for 2015, and forecast figures to 2020.
It details the different demographic, economic, infrastructural and business drivers affecting the Kuwaiti cards and payments industry.
It outlines the current regulatory framework in the industry.
It details marketing strategies used by various banks and other institutions.
Reasons To Buy
Make strategic business decisions, using top-level historic and forecast market data, related to the Kuwaiti cards and payments industry and each market within it.
Understand the key market trends and growth opportunities in the Kuwaiti cards and payments industry.
Assess the competitive dynamics in the Kuwaiti cards and payments industry.
Gain insights into marketing strategies used for various card types in Kuwait.
Gain insights into key regulations governing the Kuwaiti cards and payments industry.
The country has registered a gradual uptake of contactless technology. In February 2016, Al Ahli Bank launched the TapNGo contactless payment service for Visa premium credit cardholders. This service uses NFC technology and Visa’s payWave contactless payment technology, allowing cardholders to wave or tap cards on a contactless payment terminal. In August 2015, Boubyan Bank launched Tap & Pay, a similar service which can be used to make contactless payments via Visa and MasterCard credit cards with built-in NFC technology.
Banks are increasingly focusing on innovation to offer improved products and services. In May 2016, Gulf Bank launched Blinking to Bank, a mobile banking app that uses biometric verification. Users can log in to the app either by blinking their eyes at their smartphone camera and using their fingerprint, or using a traditional password. The mobile banking app can be used for a range of services, including accessing personal accounts, adding and managing beneficiaries, setting up future-dated transactions and biometric verification for transfers. In July 2016, NBK launched an ATM service for visually impaired customers. The ATM has a special operating system which is similar to audio instructions, and provides operating tools for visually impaired customers. Users can conduct operations such as withdrawing cash and generating mini-statements.
Banks have modified and improved their product offerings, and have started offering Sharia-compliant payment cards. For instance, Kuwait Finance House launched the Sharia-compliant Visa Signature credit card in April 2015. Kuwait International Bank and Ahli United Bank also offer Sharia-compliant credit cards. To meet rising demand, many conventional banks are now converting into Islamic banks. CBK, for instance, converted into an Islamic bank in 2014, joining other banks such as Kuwait International Bank and Ahli United Bank.