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

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Date: 12-Sep-2016
No. of pages: 49
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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.

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

Table of Contents

1 Definitions And Methodology
1.1 Definitions
1.2 Methodology

2 Key Facts And Highlights

3 Executive Summary

4 Payment Instruments

5 E-Commerce And Alternative Payments
5.1 E-Commerce Market Analysis
5.2 Alternative Payment Solutions
5.2.1 PayPal
5.2.2 Paysafecard
5.2.3 Seqr
5.2.4 Hotpay
5.2.5 Boloro
5.2.6 Next Pay
5.2.7 goTap
5.2.8 Zain Pay

6 Regulations In The Cards And Payments Industry
6.1 Regulatory Framework
6.2 Anti-Money Laundering (AML)
6.3 Foreign Direct Investment (FDI) Regulations

7 Analysis Of Cards And Payments Industry Drivers

8 Payment Cards

9 Debit Cards
9.1 Debit Card Market Analysis
9.2 Debit Card Scheme and Issuer Shares
9.3 Debit Cards Comparison

10 Pay Later Cards
10.1 Pay Later Cards Market Analysis
10.2 Pay Later Cards Scheme and Issuer Shares
10.3 Pay Later Cards Comparison

11 Appendix
11.1 Tables
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric's Services
11.5 Disclaimer

List of Tables

Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Kuwait - Key Facts, 2015
Table 4: Regional Benchmarking of Kuwait's Payment Cards, 2015
Table 5: Kuwait - Mode of Entry of Foreign Banks
Table 6: Kuwait - Debit Cards Comparison and Key Features, 2016
Table 7: Kuwait - Gold Credit Cards Comparison and Key Features, 2016
Table 8: Kuwait - Premium Credit Cards Comparison and Key Features, 2016
Table 9: Kuwait - Payment Instrument Transaction Values (KUD Billion), 2011-2015
Table 10: Kuwait - Payment Instrument Transaction Values (US$ Billion), 2011-2015
Table 11: Kuwait - Payment Instrument Transaction Volumes (Million), 2011-2015
Table 12: Kuwait - Number of Payment Cards in Circulation by Type (Million), 2011-2020
Table 13: Kuwait - Volume of Payment Card Transactions by Type (Million), 2011-2020
Table 14: Kuwait - Value of Payment Card Transactions by Type (KUD Billion), 2011-2020
Table 15: Kuwait - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
Table 16: Kuwait - Number of Debit Cards in Circulation (Million), 2011-2020
Table 17: Kuwait - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 18: Kuwait - Debit Card Total and Average Transaction Values by Channel, 2011-2020
Table 19: Kuwait - Debit Card Total and Average Transaction Values by Channel, 2011-2020
Table 20: Kuwait - Number of Debit Cards in Circulation by Scheme (Million), 2011-2015
Table 21: Kuwait - Debit Card Transaction Values by Scheme (KUD Billion), 2011-2015
Table 22: Kuwait - Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015
Table 23: Kuwait - Debit Card Transaction Values by Issuer (KUD Billion), 2011-2015
Table 24: Kuwait - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
Table 25: Kuwait - Number of Pay Later Cards in Circulation (Million), 2011-2020
Table 26: Kuwait - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 27: Kuwait - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
Table 28: Kuwait - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
Table 29: Kuwait - Number of Pay Later Cards in Circulation by Scheme (Thousand), 2011-2015
Table 30: Kuwait - Pay Later Card Transaction Values by Scheme (KUD Million), 2011-2015
Table 31: Kuwait - Pay Later Card Transaction Values by Scheme (US$ Million), 2011-2015
Table 32: Kuwait - Pay Later Card Transaction Values by Issuer (KUD Million), 2011-2015
Table 33: Kuwait - Pay Later Card Transaction Values by Issuer (US$ Million), 2011-2015
Table 34: Kuwait - Number of Credit Cards in Circulation (Million), 2011-2020
Table 35: Kuwait - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 36: Kuwait - Credit Card Total and Average Transaction Values by Channel, 2011-2020
Table 37: Kuwait - Credit Card Total and Average Transaction Values by Channel, 2011-2020
Table 38: Kuwait - Number of Credit Cards in Circulation by Scheme (Thousand), 2011-2015
Table 39: Kuwait - Credit Card Transaction Values by Scheme (KUD Million), 2011-2015
Table 40: Kuwait - Credit Card Transaction Values by Scheme (US$ Million), 2011-2015
Table 41: Kuwait - Number of Charge Cards in Circulation (Thousand), 2011-2020
Table 42: Kuwait - Charge Card Transaction Volumes and Frequency by Channel, 2011-2020
Table 43: Kuwait - Charge Card Total and Average Transaction Values by Channel, 2011-2020
Table 44: Kuwait - Charge Card Total and Average Transaction Values by Channel, 2011-2020
Table 45: Kuwait - Number of Charge Cards in Circulation by Scheme (Thousand), 2011-2015
Table 46: Kuwait - Charge Card Transaction Values by Scheme (KUD Million), 2011-2015
Table 47: Kuwait - Charge Card Transaction Values by Scheme (US$ Million), 2011-2015
Table 48: Kuwait - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
Table 49: Kuwait - Personal and Commercial Pay Later Card Transaction Values (KUD Million), 2011-2020
Table 50: Kuwait - Personal and Commercial Pay Later Card Transaction Values (US$ Million), 2011-2020
Table 51: Kuwait - Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020
Table 52: Kuwait - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
Table 53: Kuwait - Commercial Pay Later Card Transaction Values (KUD Million), 2011-2020
Table 54: Kuwait - Commercial Pay Later Card Transaction Values (US$ Million), 2011-2020

List of Figures

Figure 1: Kuwait - Payment Instrument Shares by Transaction Value (%), 2011 vs. 2015
Figure 2: Kuwait - Payment Instrument Shares by Transaction Volume (%), 2011 vs. 2015
Figure 3: Kuwait - E-Commerce Value, 2011-2020
Figure 4: Kuwait - Population
Figure 5: Kuwait - Economic Indicators
Figure 6: Kuwait - ATMs and POS Terminals
Figure 7: Kuwait - Household Consumption
Figure 8: Kuwait - Growth in Payment Cards Transaction Values and Number of Cards in Circulation by Type, 2011-2020
Figure 9: Kuwait - Debit Card Penetration and Turnover Per Card
Figure 10: Kuwait - Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 11: Kuwait - Pay Later Cards Penetration and Turnover Per Card
Figure 12: Kuwait - Pay Later Cards Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

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