GCC Financial Cards & Payments Market Analysis, Size, Share, Growth, Trends and Outlook to 2030 | Visa, Mastercard, American Express

This comprehensive GCC Financial Cards & Payments Market report by “MarkNtel Advisors: Leading Market research Company” offers valuable insights into the current and future market landscape, providing clarity on potential challenges and strategies for optimal brand positioning. It features detailed market segmentation, in-depth analysis of key market players, emerging trends in consumer behavior and supply chain dynamics, and opportunities in new geographical markets. With the insights from this report, you can manage your marketing strategies for goods and services more effectively.

According to recent market analysis report, the GCC Financial Cards & Payments Market size is expected to grow at a CAGR of 11.2% during the forecast period of 2024 to 2030.

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Driving Force Behind the Growth of the GCC Financial Cards & Payments Market through 2030

Expanding E-commerce Industry – The growing e-commerce industry across the GCC region has well-supported the Financial Cards & Payments Market over 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 global retail players in the lucrative market. 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 of payments made via financial cards, such as debit cards, prepaid cards, credit cards, etc., has increased considerably. 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 will increase the demand for financial cards and payments in the forecast years.

Market Segment Highlights:

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

Customer-to-business (C2B) segment witnessed sizeable growth over the historical period. The rising penetration of the internet & smartphones in the GCC region has expanded the scope of financial cards and payments for e-commerce activity. The trend of shopping through e-commerce portals has gained noteworthy traction in countries such as the UAE, Saudi Arabia, Qatar, etc. The rising inclination of consumers towards online shopping as it offers a convenient, enjoyable, and secure digital experience has flourished the adoption of cashless payment methods, such as debit cards, and credit cards, among others.

By Type of Transactions

 > Domestic

 > Foreign

By Card Issuing Institution

 > Banking

 > Non-Banking

GCC Financial Cards & Payments Market Countries Outlook:

• Saudi Arabia
• The UAE
• Qatar
• Bahrain
• Kuwait
• Oman

The UAE is anticipated to acquire the largest market share during the forecast period. It owes principally to the country having numerous shopping complexes, the establishment of luxury brands, and plenty of things to shop for, encouraging the utilization of financial cards & payments to make transactions conveniently.

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GCC Financial Cards & Payments Market Competition Analysis:

Some of the top Financial Cards & Payments companies operating in the GCC market are Visa, Mastercard, American Express, Citibank, HSBC, PayPal express checkout, HDFC Bank, Diners Club, Barclays, Hyperpay, Others.

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