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The Cards and Payments Industry in Kuwait: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Kuwait: Emerging Trends and Opportunities to 2020

Synopsis

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.

Summary

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.
Scope

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.
Key Highlights
  • 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.


  • Definitions and Methodology
    • Definitions
      • Table Key Definitions
    • Methodology
      • Table Annual Average Exchange Rate
  • Key Facts and Highlights
    • Table Kuwait - Key Facts, 2015
    • Table Regional Benchmarking of Kuwait's Payment Cards, 2015
  • Executive Summary
  • Payment Instruments
  • E-Commerce and Alternative Payments
    • E-Commerce Market Analysis
    • Alternative Payment Solutions
      • PayPal
      • Paysafecard
      • Seqr
      • Hotpay
      • Boloro
      • Next Pay
      • goTap
      • Zain Pay
  • Regulations in the Cards and Payments Industry
    • Regulatory Framework
    • Anti-Money Laundering (AML)
    • Foreign Direct Investment (FDI) Regulations
      • Table Kuwait - Mode of Entry of Foreign Banks
  • Analysis of Cards and Payments Industry Drivers
  • Payment Cards
  • Debit Cards
    • Debit Card Market Analysis
    • Debit Card Scheme and Issuer Shares
    • Debit Cards Comparison
      • Table Kuwait - Debit Cards Comparison and Key Features, 2016
  • Pay Later Cards
    • Pay Later Cards Market Analysis
    • Pay Later Cards Scheme and Issuer Shares
    • Pay Later Cards Comparison
      • Table Kuwait - Gold Credit Cards Comparison and Key Features, 2016
      • Table Kuwait - Premium Credit Cards Comparison and Key Features, 2016
  • Appendix
    • Tables
      • Table Kuwait - Payment Instrument Transaction Values (KUD Billion), 2011-2015
      • Table Kuwait - Payment Instrument Transaction Values (US$ Billion), 2011-2015
      • Table Kuwait - Payment Instrument Transaction Volumes (Million), 2011-2015
      • Table Kuwait - Number of Payment Cards in Circulation by Type (Million), 2011-2020
      • Table Kuwait - Volume of Payment Card Transactions by Type (Million), 2011-2020
      • Table Kuwait - Value of Payment Card Transactions by Type (KUD Billion), 2011-2020
      • Table Kuwait - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
      • Table Kuwait - Number of Debit Cards in Circulation (Million), 2011-2020
      • Table Kuwait - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Kuwait - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Kuwait - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Kuwait - Number of Debit Cards in Circulation by Scheme (Million), 2011-2015
      • Table Kuwait - Debit Card Transaction Values by Scheme (KUD Billion), 2011-2015
      • Table Kuwait - Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Kuwait - Debit Card Transaction Values by Issuer (KUD Billion), 2011-2015
      • Table Kuwait - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Kuwait - Number of Pay Later Cards in Circulation (Million), 2011-2020
      • Table Kuwait - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Kuwait - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Kuwait - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Kuwait - Number of Pay Later Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Kuwait - Pay Later Card Transaction Values by Scheme (KUD Million), 2011-2015
      • Table Kuwait - Pay Later Card Transaction Values by Scheme (US$ Million), 2011-2015
      • Table Kuwait - Pay Later Card Transaction Values by Issuer (KUD Million), 2011-2015
      • Table Kuwait - Pay Later Card Transaction Values by Issuer (US$ Million), 2011-2015
      • Table Kuwait - Number of Credit Cards in Circulation (Million), 2011-2020
      • Table Kuwait - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Kuwait - Credit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Kuwait - Credit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Kuwait - Number of Credit Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Kuwait - Credit Card Transaction Values by Scheme (KUD Million), 2011-2015
      • Table Kuwait - Credit Card Transaction Values by Scheme (US$ Million), 2011-2015
      • Table Kuwait - Number of Charge Cards in Circulation (Thousand), 2011-2020
      • Table Kuwait - Charge Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Kuwait - Charge Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Kuwait - Charge Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Kuwait - Number of Charge Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Kuwait - Charge Card Transaction Values by Scheme (KUD Million), 2011-2015
      • Table Kuwait - Charge Card Transaction Values by Scheme (US$ Million), 2011-2015
      • Table Kuwait - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Kuwait - Personal and Commercial Pay Later Card Transaction Values (KUD Million), 2011-2020
      • Table Kuwait - Personal and Commercial Pay Later Card Transaction Values (US$ Million), 2011-2020
      • Table Kuwait - Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020
      • Table Kuwait - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Kuwait - Commercial Pay Later Card Transaction Values (KUD Million), 2011-2020
      • Table Kuwait - Commercial Pay Later Card Transaction Values (US$ Million), 2011-2020
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    • Disclaimer

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