1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
Saudi Arabia Cards and Payments - Opportunities and Risks to 2023

Saudi Arabia Cards and Payments - Opportunities and Risks to 2023

  • July 2020
  • 55 pages
  • ID: 5811682
  • Format: PDF
  • GlobalData
Up to $1650 off Until Sep 20th 2020

Summary

Table of Contents

Search Inside

Saudi Arabia Cards and Payments - Opportunities and Risks to 2023

Summary
’Saudi Arabia Cards and Payments - Opportunities and Risks to 2023’ report provides detailed analysis of market trends in Saudi Arabia’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits during the review-period (2015-19e).

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 (2019e-23f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

’Saudi Arabia Cards & Payments: Opportunities and Risks to 2023’ report provides top-level market analysis, information and insights into Saudi Arabia’s cards and payments industry, including -
- Current and forecast values for each market in Saudi Arabia’s cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, cards, credit transfers, cheques, and direct debits. 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 Saudi Arabia’s cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope
- As part of Saudi Vision 2030, in March 2020 SAMA announced it will launch a unified QR code-based national payment system (the commercial launch date has not yet been announced). By implementing this unified platform, SAMA aims to offer several payment solutions for retailers, payment service providers, and consumers through a unified platform that enables all involved parties to interact using one common and consistent standard. Saudi Payments, a fully owned subsidiary of SAMA, selected fintech company Hightech Payment Systems to implement the platform. Previously, Saudi Payments signed a memorandum of understanding with nine banks and three financial technology firms in May 2019 to support the project.
- The ongoing COVID-19 pandemic is changing the way Saudi consumers make payments. According to an April 2020 survey carried out by Mastercard, 65% of respondents are now using contactless payments and 81% will continue to use contactless payments post-pandemic, while 80% of respondents view contactless as the “cleaner” way to pay. The survey also revealed that between February and March 2020, contactless transactions grew three times as fast as non-contactless transactions in the grocery and pharmacy categories. Due to the pandemic, in March 2020 SAMA increased the contactless payment limit on debit cards from SAR100 ($26.67) to SAR300 ($80).
- SAMA reduced the repo rate by 75 basis points from 1.75% to 1% in March 2020 to support the banking sector and economy against the impact of coronavirus. To protect the interests of credit card holders in particular, in April 2020 SAMA urged all banks in the country to review interest rates and other fees levied on credit cards in line with the drop in the repo rate. While these measures are aimed at offering relief to credit card holders until normalcy is restored, any reduction in credit card interest rates by banks will further encourage their usage going forward.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to Saudi Arabia’s cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Saudi Arabia’s cards and payments industry.
- Assess the competitive dynamics in Saudi Arabia’s cards and payments industry.
- Gain insights into marketing strategies used for various card types in Saudi Arabia.
- Gain insights into key regulations governing Saudi Arabia’s cards and payments industry.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
20% Off

($2750)

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on