Saudi Arabia’s cards and payments channel is expected to reach a CAGR of just under 9% by 2018

Date: 06-Jun-2014
Cards and Payments industry in Saudi Arabia – Research Report identifies that the Saudi Arabian cards and payments channel is expected to grow from just over 30 million cards in 2014 to just over 40 million in 2018. By purchasing this report you will secure a proper understanding of the cards and payments industry in Saudi Arabia, which will enable you to amend your business plans accordingly to allow maximum sales. You will gain an understanding of the key factors driving the cards and payments industry in Saudi Arabia, enabling you to identify the growth opportunities and market dynamics.

The difference:

• Confidently update your strategic business decisions by using top-level historic and forecast market data related to Saudi Arabia’s cards and payments industry and each market within it, to gain a better understanding of the market.

• Understand the key market trends and growth opportunities within Saudi Arabia’s cards and payments industry, gaining the upper hand over competitors.

• Gain insights into the key marketing strategies used for selling various card types in Saudi Arabia, to better position your business for future growth.

Additional highlights:

Targeting unexploited categories to overcome competition and gain industry share

The Saudi Arabian card payments channel is yet to be explored to its full potential by card issuers. Cards aimed at students, teenagers and businesses are gaining popularity across the world, but are yet to be exploited fully in Saudi Arabia. Some banks, such as Samba Financial Group and Al Rajhi Bank, are offering credit and debit cards, targeting female customers through the Ladies Banking service.

The growing e-commerce sector has prompted many banks, such as Al Rajhi Bank, SABB, Samba Financial Group and Riyad Bank, to offer cards exclusively targeted at online shoppers. To target high-income customers, banks are offering credit cards with a range of benefits and value-added services.

An increased consumer willingness to shop online resulted in growth of m-payments in Saudi Arabia. With banks partnering with online merchants, m-payments are expected to increase from US$415.0 million in 2014 to just under US$2 billion in 2018, at a forecast-period CAGR of just under 47%. Growth is expected to provide substantial scope for card-based payments.

Comprehensive Table of Contents and more on the report @ .