UAE Cards & Payments Sector Analysed & Forecast in New Timetric Research Report Published at MarketPublishers.com22 Jul 2014 • by Natalie Aster
LONDON – The UAE card payments market expanded in terms of both volume and value during 2009−2013. The predominant growth drivers include the surging popularity of payment cards based on Islamic principles, the government’s incentives to promote noncash transactions, the introduction of contactless payments technology, and the growth in the e-commerce, retailing, and tourism industries. The total number of cards in circulation in the UAE reached 18.2 million as of 2013, growing at a CAGR of just over 15.3% during 2009−2013. From 2014 and through to end-2018, the national card payments channel is projected to post a CAGR of around 8.6% and reach 28.4 million cards by the end of the forecast period. In terms of transaction value, the card payments channel is expected to increase from USD 132.8 billion in 2013 to USD 144.1 billion in 2014 and further to USD 183.5 billion by 2018, at a forecast-period CAGR of 6.23%.
The UAE’s highly developed telecommunications infrastructure allowed it to report one of the highest rates of mobile penetration in the MENA region in 2013. M-payments are anticipated to grow, reaching USD 3 billion in 2018, posting a CAGR of just over 38% during the forecast period. E-commerce is also on the rise due to enhancements in payment and security systems, telecommunication infrastructure and consumers’ increased willingness to buy online.
New report “The United Arab Emirates’ Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” developed by Timetric offers a granular analysis of the UAE cards and payments industry. It provides actual valuations for the country’s cards and payments sector for 2013 plus forecasts to 2018, canvasses the drivers having a bearing on the industry, offers comprehensive insights into major regulations governing the domestic cards and payments marketplace. The research report gives an unbiased assessment of the competitive dynamics in the market along with profiling the top industry players. Furthermore, key marketing strategies utilised by different banks and other institutions for selling various types of cards in the UAE are addressed in the report.
The United Arab Emirates’ Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
Published: July, 2014
Price: US$ 3,995.00
More new studies by the publisher can be found at Timetric page.