GCC Financial Cards & Payments Market Share, Size, Trends, Growth, Report and Forecast 2023-2028

The most recent report by MarkNtel Advisors, titled “GCC Financial Cards & Payments Market  By Type (Card [Credit Card, Debit Card, Charge Card, Prepaid Card]), By Type of Payments (B2B, B2C, C2C, C2B [E-Commerce Shopping, Payments at POS Terminals, Others]), By Type of Transactions (Domestic, Foreign), By Card Issuing Institution (Banking, Non-Banking),.The GCC Financial Cards & Payments Market is projected to grow at a CAGR of around 11.2% during the forecast period, i.e., 2023-28.” offers a comprehensive industry assessment and market outlook. This research presents an extensive overview of the present market conditions, encompassing market trends and the latest developments. The report delves deeply into aspects such as market size, market share, industry trends, forecasts, and the competitive landscape, providing a clear and well-supported depiction of the market through relevant statistical data.

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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.

What do you get in this report?

• Forecasts for the GCC Financial Cards & Payments Market, encompassing both well-established and emerging markets.
• An exploration of various market perspectives using Porter’s Five Forces analysis.
• Insights into the market sectors poised to dominate on a scale.
• Projections for regions expected to experience the most rapid growth during the forecast period.
• Examination of the latest developments, market shares, and marketing strategies employed by top competitors in the GCC Financial Cards & Payments industry.
• Factors influencing the overall market’s growth trajectory.
• Potential barriers to the market’s expansion in the coming years.
• An in-depth look at the competitive landscape and intricate insights into the potential business opportunities for key market players.
• Pricing strategies adopted by various participants within the GCC Financial Cards & Payments Market.

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Stay ahead of the market competition:

The report integrates factual data, numerical figures, and market insights to generate revenue assessments and market projections. This is accomplished through a diverse array of statistical tools and the expertise of industry professionals. Each prominent player undergoes a comprehensive examination, which includes a SWOT analysis, a detailed profile, and a complementary Porter’s Five Forces analysis.

To seize emerging opportunities, key market participants have consistently been revaluating and adjusting their strategies and operational methods. Our analysis extends beyond major corporations to encompass regional small and medium-sized enterprises that hold significant roles and possess substantial growth potential. This approach allows us to accurately portray the level of competition within the industry.

This section provides detailed information about the key market participants: –             

Visa, Mastercard, American Express, Citibank, HSBC, PayPal express checkout, HDFC Bank, Diners Club, Barclays, Hyperpay, Others.

In-depth analysis of GCC Financial Cards & Payments Market Segmentation:

Our thorough analysis of market segmentation provides accurate and insightful data to assist our readers in making informed and strategic investment decisions. The research encompasses market forecasts at the global, regional, and national levels. It examines market trends within each market category for the years 2023 through 2028.

The GCC Financial Cards & Payments Market is highly fragmented and categorized into the following segments:

By Type of Card

-Credit Card

-Debit Card

-Charge Card

-Prepaid Card

By Type of Payments

-B2B

-B2C

-C2C

-C2B

-E-Commerce Shopping

-Payments at POS Terminals

-Others

By Type of Transactions

-Domestic

-Foreign

By Card Issuing Institution

-Banking

-Non-Banking

By Country

-Saudi Arabia

-The UAE

-Qatar

-Bahrain

-Kuwait

-Oman.

Key Questions:

• What are the particular strategies and constraints impacting market demand?
• How will patterns, challenges, and trends influence the expansion and extent of the market?
• Which market factors will contribute to the formulation of client and corporate strategies?
• What factors, such as rising demand and ongoing market developments, are exerting an influence?
• What level of growth potential or capacity does the market possess in the near future?
• Which region is likely to command the largest market share in the upcoming period?
• Among the market segments discussed, which ones might be exploring opportunities for further expansion?

About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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