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

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

Synopsis

Timetric’s 'The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Saudi Arabian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, cash transactions, direct debits and credit transfers 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 Saudi Arabia: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Saudi Arabian cards and payments industry, including:

  • Current and forecast values for each market in the Saudi Arabian cards and payments industry, including debit and pay later cards.
  • Detailed insights into payment instruments including credit transfers, direct debits, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis and payment types.
  • Analysis of various market drivers and regulations governing the Saudi Arabian cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and pay later cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape in the Saudi Arabian cards and payments industry.
Scope
  • This report provides a comprehensive analysis of the Saudi Arabian cards and payments industry.
  • It provides current values for the Saudi Arabian cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Saudi Arabian 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 Saudi Arabian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Saudi Arabian cards and payments industry.
  • Assess the competitive dynamics in the Saudi Arabian cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Saudi Arabia.
  • Gain insights into key regulations governing the Saudi Arabian cards and payments industry.
Key Highlights
  • The Saudi Arabian Monetary Agency (Sama) has taken a number of initiatives to encourage electronic payments, including establishing a new electronic payment system, mada, and mandatory wage payments into bank accounts. It launched a modified Saudi Payment Network (Span) as mada in September 2015. Span links all ATMs and point-of-sale (POS) terminals across the country to a central payment switch, and the regulator expects the new system to increase the use of POS terminals. To encourage the use of the POS terminals, the daily purchase limit per card was increased from US$5,333.3 (SAR20,000) to US$16,000 (SAR60,000). Moreover, mada card users are provided with a value-added service, Purchase with Cashback, through which cardholders can request that merchants add extra amounts to purchase prices and receive the amounts in cash. Consumers can withdraw a maximum of US$106.7 (SAR400) per day on each card at merchant stores using this facility.
  • Sama launched the Wage Protection System (WPS) in collaboration with the Ministry of Labor in June 2013. Under the law, employees’ salaries are paid directly into their bank accounts, from which they can withdraw cash and make payments at POS terminals using debit cards. WPS was implemented in phases depending on organizations’ employee counts. Initially, it was mandatory for companies with an employee base of more than 3,000; this figure was reduced in phases to companies with 100 or more employees from November 2015.
  • The emergence of digital only banks is likely to further encourage a shift towards electronic payments in Saudi Arabia. Gulf International Bank launched the first digital-only bank, Meem, in Saudi Arabia in January 2015. Meem offers online and mobile banking only, with no physical branches. At present, Meem only targets retail banking customers.


  • Definitions and Methodology
    • Definitions
      • Table Key Definitions
    • Methodology
      • Table Annual Average Exchange Rate
  • Key Facts and Events
    • Table Saudi Arabia - Key Facts, 2015
    • Table Regional Benchmarking of Saudi Arabia's Payment Cards, 2015
  • Executive Summary
  • Payment Instruments
    • Current Payment Environment
  • E-Commerce
    • E-Commerce Market Analysis
  • Alternative Payments
    • Alternative Payment Instruments
      • PayPal
      • M-Pesa
      • Payfort
      • Boku
      • Bango
      • T-Pay
  • Regulations in the Cards and Payments Industry
    • Regulatory Framework
      • Payment systems
    • The Wage Protection Law
    • Anti-Money Laundering (AML)
    • Foreign Direct Investment (FDI) Regulations
      • Table Saudi Arabia - Mode of Entry of Foreign Banks
  • Analysis of Cards and Payments Industry Drivers
    • Demographic Drivers
    • Economic Drivers
    • Infrastructure Drivers
    • Business Drivers
  • Market Segmentation and New Product Launches
    • Market Segmentation and Targeting
      • Consumer cards
        • Table Cards for High-Income Consumers, 2016
        • Table Cards for Shoppers, 2016
        • Table Cards for Online Shoppers, 2016
        • Table Cards for Travelers, 2016
        • Table Cards for Women, 2016
      • Commercial cards
        • Table Cards for Business Managers and Entrepreneurs, 2016
        • Table Specialized Cards for SMEs, 2016
    • New Product Launches
      • Table Saudi Arabia - New Product Launches
  • Payment Cards
    • Payment Cards Market Analysis
      • Volume and value of payment card transactions by type
  • Debit Cards
    • Debit Card Market Analysis
      • Turnover per debit card and transaction values by channel
      • Debit card scheme and issuer shares in terms of transaction value
      • Debit cards comparison
        • Table Saudi Arabia - Debit Cards Comparison and Key Features, 2016
  • Pay Later Cards
    • Pay Later Cards Market Analysis
      • Turnover per pay later card and transaction values by channel
      • Pay later card scheme and issuer shares in terms of transaction value
      • Pay later cards comparison
        • Table Saudi Arabia - Gold Credit Cards Comparison and Key Features, 2016
        • Table Saudi Arabia - Premium Credit Cards Comparison and Key Features, 2016
        • Table Saudi Arabia - Charge Cards Comparison and Key Features, 2016
  • Commercial Pay Later Cards
    • Commercial Pay Later Cards Market Analysis
      • Commercial cards comparison
        • Table Saudi Arabia - Commercial Cards Comparison and Key Features, 2016
  • Card Issuers
    • Al Rajhi Bank
    • The National Commercial Bank
    • Riyad Bank
    • Arab National Bank
    • The Saudi British Bank
  • Appendix
    • Tables
      • Table Saudi Arabia - Payment Instrument Transaction Values (SAR Billion), 2011-2015
      • Table Saudi Arabia - Payment Instrument Transaction Values (US$ Billion), 2011-2015
      • Table Saudi Arabia - Payment Instrument Transaction Volumes (Million), 2011-2015
      • Table Saudi Arabia - Number of Payment Cards in Circulation by Type (Million), 2011-2020
      • Table Saudi Arabia - Volume of Payment Card Transactions by Type (Million), 2011-2020
      • Table Saudi Arabia - Value of Payment Card Transactions by Type (SAR Billion), 2011-2020
      • Table Saudi Arabia - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
      • Table Saudi Arabia - Number of Debit Cards in Circulation (Million), 2011-2020
      • Table Saudi Arabia - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Saudi Arabia - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Saudi Arabia - Number of Debit Cards in Circulation by Scheme (Million), 2011-2015
      • Table Saudi Arabia - Debit Card Transaction Values by Scheme (SAR Billion), 2011-2015
      • Table Saudi Arabia - Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Saudi Arabia - Debit Card Transaction Values by Issuer (SAR Billion), 2011-2015
      • Table Saudi Arabia - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Saudi Arabia - Number of Pay Later Cards in Circulation (Million), 2011-2020
      • Table Saudi Arabia - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Saudi Arabia - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Saudi Arabia - Number of Pay Later Cards in Circulation By Scheme (Thousand), 2011-2015
      • Table Saudi Arabia - Pay Later Card Transaction Values By Scheme (SAR Billion), 2011-2015
      • Table Saudi Arabia - Pay Later Card Transaction Values By Scheme (US$ Million), 2011-2015
      • Table Saudi Arabia - Pay Later Card Transaction Values by Issuer (SAR Billion), 2011-2015
      • Table Saudi Arabia - Pay Later Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Saudi Arabia - Number of Credit Cards in Circulation (Million), 2011-2020
      • Table Saudi Arabia - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Saudi Arabia - Credit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Saudi Arabia - Number of Credit Cards in Circulation by Scheme (Million), 2011-2015
      • Table Saudi Arabia - Credit Card Transaction Values by Scheme (SAR Billion), 2011-2015
      • Table Saudi Arabia - Credit Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Saudi Arabia - Number of Charge Cards in Circulation (Thousand), 2011-2020
      • Table Saudi Arabia - Charge Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Saudi Arabia - Charge Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Saudi Arabia - Number of Charge Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Saudi Arabia - Charge Card Transaction Values by Scheme (SAR Million), 2011-2015
      • Table Saudi Arabia - Charge Card Transaction Values by Scheme (US$ Million), 2011-2015
      • Table Saudi Arabia - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Saudi Arabia - Personal and Commercial Pay Later Card Transaction Values (SAR Billion), 2011-2020
      • Table Saudi Arabia - Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Saudi Arabia - Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020
      • Table Saudi Arabia - Commercial Pay Later Card Transaction Values (SAR Million), 2011-2020
      • Table Saudi Arabia - Commercial Pay Later Card Transaction Values (US$ Million), 2011-2020
      • Table Saudi Arabia - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
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