The Cards and Payments Industry in the UAE: Emerging trends and opportunities to 2020

Date: July 3, 2017
Pages: 56
Price:
US$ 2,750.00
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Publisher: GlobalData
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: C2D93F67844EN
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The Cards and Payments Industry in the UAE: Emerging trends and opportunities to 2020
The Cards and Payments Industry in the UAE: Emerging trends and opportunities to 2020

Summary

GlobalData’s 'The Cards and Payments Industry in the UAE: Emerging trends and opportunities to 2020' report provides detailed analysis of market trends in the UAE cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, payment cards, and cheques during the review-period (2012-16e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2016-20f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’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.

The report provides top-level market analysis, information and insights into the UAE cards and payments industry, including -
  • Current and forecast values for each market in the UAE cards and payments industry, including debit, credit, and charge cards.
  • Detailed insights into payment instruments including cheques, cash, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis and payment methods.
  • Analysis of various market drivers and regulations governing the UAE cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
  • Scope
    • To capitalize on the rising adoption of alternative payment solutions among UAE residents, Samsung collaborated with a number of banks and payment networks to launch its Samsung Pay m-payment service in April 2017. It allows users to conduct payments across all form of terminals, including magnetic stripe, EMV, and NFC. In January 2017, UnionPay collaborated with Mashreq Bank to introduce its host card emulation- and tokenization-based m-payment service QuickPass. Users can pay using their UnionPay QuickPass chip card or mobile QuickPass-enabled smartphones and wearable devices at contactless POS terminals. In August 2016, telecommunications company Etisalat launched Etisalat Wallet, a mobile wallet that allows consumers to pay for utility bills, parking tickets, and the purchase of goods and services from participating domestic and international retailers, as well as topping up Etisalat mobile phone credit.
    • To promote card-based payments in the UAE, Mashreq Bank and security solutions provider Oberthur Technologies (OT) introduced an instant card issuance service in April 2017. Using OT’s solution, Mashreq Bank can promptly issue personalized payment cards to its consumers at the time of opening an account. The service is currently installed at 35 Mashreq Bank branches in both the UAE and Qatar, helping drive the issuance of more than 40 debit and credit card products. Reducing the amount of time it takes to issue payment cards has resulted in increased cards in circulation in the country.
    • To transform the UAE into a digitized society, 16 equity partner banks - National Bank of Abu Dhabi (NBAD), Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Mashreq Bank, Dubai Islamic Bank (DIB), Commercial Bank of Dubai (CBD), RAKBANK, United National Bank (UNB), Al Hilal Bank, Sharjah Islamic Bank (SIB), Al Masraf, Bank of Sharjah, Invest Bank, United Arab Bank (UAB), National Bank of Fujairah (NBF), and National Bank of Umm Al Quwain (NBQ) - officially launched the Emirates Digital Wallet platform in May 2017. The app is designed to provide a convenient and efficient payment system to UAE residents. It is regulated by the central bank and developed under the supervision of the UAE Banks Federation - a body that aims to promote and improve the UAE’s banking sector. The move is anticipated to reduce dependency on cash and provide the population with access to financial services including payments and fund transfers using mobile phones.
    Reasons to buy
    • Make strategic business decisions, using top-level historic and forecast market data, related to the UAE cards and payments industry and each market within it.
    • Understand the key market trends and growth opportunities in the UAE cards and payments industry.
    • Assess the competitive dynamics in the UAE cards and payments industry.
    • Gain insights into marketing strategies used for various card types in the UAE.
    • Gain insights into key regulations governing the UAE cards and payments industry.
    1. EXECUTIVE SUMMARY

    1.1. Market overview
    1.2. Key facts
    1.3. Top five industry events

    2. PAYMENT INSTRUMENTS

    2.1. Current payment environment

    3. E-COMMERCE AND ALTERNATIVE PAYMENTS

    3.1. E-commerce market analysis
    3.2. Alternative payment solutions
      3.2.1. PayPal
      3.2.2. Masterpass
      3.2.3. Samsung Pay
      3.2.4. Visa Checkout
      3.2.5. QuickPass
      3.2.6. Emirates NBD Pay
      3.2.7. CashU
      3.2.8. Payfort
      3.2.9. Etisalat Wallet
      3.2.10. NeO
      3.2.11. PayTabs

    4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY

    4.1. Regulatory framework
      4.1.1. The UAE mandates migration to EMV
    4.2. Anti-money laundering
    4.3. Foreign direct investment regulations

    5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS

    6. PAYMENT CARDS

    6. DEBIT CARDS

    7.1. Debit card market analysis
    7.2. Competition in the debit card market
    7.3. Debit card comparison

    8. PAY-LATER CARDS

    8.1. Pay-later card market analysis
    8.2. Competition in the pay-later card market
    8.3. Pay-later card comparison

    9. PREPAID CARDS

    10. APPENDIX

    10.1. Abbreviations and acronyms
    10.2. Supplementary data
    10.3. Definitions
    10.4. Methodology
    10.5. Bibliography
    10.6. Further reading

    LIST OF TABLES

    Table 1: UAE: key facts, 2016
    Table 2: UAE: regional benchmarking of payment cards, 2016
    Table 3: UAE: mode of entry of foreign banks
    Table 4: UAE: debit card comparison and key features, 2017
    Table 5: UAE: gold credit card comparison and key features, 2017
    Table 6: UAE: premium credit card comparison and key features, 2017
    Table 7: UAE: charge card comparison and key features, 2017
    Table 8: UAE: payment instrument transaction values (AEDbn), 2012-16e
    Table 9: UAE: payment instrument transaction values ($bn), 2012-16e
    Table 10: UAE: payment instrument transaction volumes (millions), 2012-16e
    Table 11: UAE: payment cards in circulation by type (000s), 2012-20f
    Table 12: UAE: volume of payment card transactions (millions), 2012-20f
    Table 13: UAE: value of payment card transactions (AEDbn), 2012-20f
    Table 14: UAE: value of payment card transactions ($bn), 2012-20f
    Table 15: UAE: debit cards in circulation (millions), 2012-20f
    Table 16: UAE: debit card transaction volumes, 2012-20f
    Table 17: UAE: debit card transaction values (AED), 2012-20f
    Table 18: UAE: debit card transaction values ($), 2012-20f
    Table 19: UAE: debit cards in circulation by scheme (millions), 2012-16e
    Table 20: UAE: debit card transaction values by scheme (AEDbn), 2012-16e
    Table 21: UAE: debit card transaction values by scheme ($bn), 2012-16e
    Table 22: UAE: debit card transaction values by issuer (AEDbn), 2012-16e
    Table 23: UAE: debit card transaction values by issuer ($bn), 2012-16e
    Table 24: UAE: pay-later cards in circulation (millions), 2012-20f
    Table 25: UAE: pay-later card transaction volumes, 2012-20f
    Table 26: UAE: pay-later card transaction values (AED), 2012-20f
    Table 27: UAE: pay-later card transaction values ($), 2012-20f
    Table 28: UAE: pay-later cards in circulation by scheme (000s), 2012-16e
    Table 29: UAE: pay-later card transaction values by scheme (AEDbn), 2012-16e
    Table 30: UAE: pay-later card transaction values by scheme ($bn), 2012-16e
    Table 31: UAE: pay-later card transaction values by issuer (AEDbn), 2012-16e
    Table 32: UAE: pay-later card transaction values by issuer ($bn), 2012-16e
    Table 33: UAE: credit cards in circulation (millions), 2012-20f
    Table 34: UAE: credit card transaction volumes, 2012-20f
    Table 35: UAE: credit card transaction values (AED), 2012-20f
    Table 36: UAE: credit card transaction values ($), 2012-20f
    Table 37: UAE: credit cards in circulation by scheme (000s), 2012-16e
    Table 38: UAE: credit card transaction values by scheme (AEDbn), 2012-16e
    Table 39: UAE: credit card transaction values by scheme ($bn), 2012-16e
    Table 40: UAE: charge cards in circulation (000s), 2012-20f
    Table 41: UAE: charge card transaction volumes, 2012-20f
    Table 42: UAE: charge card transaction values (AED), 2012-20f
    Table 43: UAE: charge card transaction values ($), 2012-20f
    Table 44: UAE: charge cards in circulation by scheme (000s), 2012-16e
    Table 45: UAE: charge card transaction values by scheme (AEDbn), 2012-16e
    Table 46: UAE: charge card transaction values by scheme ($m), 2012-16e
    Table 47: UAE: prepaid cards in circulation (millions), 2012-20f
    Table 48: UAE: prepaid card transaction values (AEDbn), 2012-20f
    Table 49: UAE: prepaid card transaction values ($bn), 2012-20f
    Table 50: Key definitions

    LIST OF FIGURES

    Figure 1: UAE: payment instrument shares by transaction value (%), 2012 vs 2016
    Figure 2: UAE: payment instrument shares by transaction volume (%), 2012 vs 2016
    Figure 3: UAE: e-commerce value
    Figure 4: UAE: population and economic indicators
    Figure 5: UAE: ATMs, POS terminals, and household consumption
    Figure 6: UAE: payment card transaction value and cards in circulation, 2012-20f
    Figure 7: UAE: debit card penetration and turnover per card
    Figure 8: UAE: debit card scheme and issuer transaction value shares, 2016
    Figure 9: UAE: pay-later card penetration and turnover per card
    Figure 10: UAE: pay-later card scheme and issuer transaction value shares, 2016
    Figure 11: UAE: prepaid cards in circulation and transaction value, 2012-20f
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