How big is the Saudi Arabia Cards and Payments market?
According to MarkNtel Advisors study, The Saudi Arabia Cards and Payments Market size is projected to grow at a CAGR of around 8.5% during the forecast period, i.e., 2024-30.
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Saudi Arabia Cards and Payments Market Trend:
Integration of Smart Touchless Technologies Gaining Traction – Owing to the rising technological advancements, financial service providers & financial institutions comprising commercial banks & other investment banks are integrating new touchless technologies in credit cards, debit cards, fleet cards, etc., to improve the user experience. These touchless technologies enable consumers to complete touch-free transactions with systems, thereby meeting health & safety requirements.
To make the end-user experience seamless, companies like Visa & Master card are launching products such as tap-to-go cards designed using these touchless technologies, making payment simple & preferable by consumers. Also, the significant adoption of the new innovative tech in the financial sector as well as by the consumers is gaining traction, further augmenting the Saudi Arabia Cards and Payments Market expansion in the coming years.
Leading Companies in the Saudi Arabia Cards and Payments market:
- Saudi National Bank SNB
- The Al Rajhi Bank
- Alawwal Bank
- Banque Saudi Fransi
- Riyad Bank
- Arab National Bank
- Bank Al Jazira
- Bank Al Bilad
- Saudi Investment Bank
- Alinma Bank
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Saudi Arabia Cards and Payments Market Segmentation:
By Type of Cards
- Debit Cards
- Fleet/Fuel Cards
- ATM Cards
- Prepaid Cards
- Credit Cards
The Debit Cards segment held the largest share of the Saudi Arabia Cards and Payments Market in the historical years and is predicted to flourish during 2024-30, owing to the increasingly rising bankable population in the country.
By Type of Payment Instrument
- Cards
- Mobile Wallets
- Credit Transfers
- Cash
- Debit Cards
- Checks
By Type of Payments
- B2B
- B2C
- C2C
- C2B
- E-Commerce Payments
- Payments at POS Terminals
By Transaction Type
- Domestic
- Foreign
By Application
- Food & Groceries
- Health & Pharmacies
- Travel & Tourism
- Hospitality
- Others (Media & Entertainment, etc.)
By Institution Type
- Financial
- Non-Financial
Regional/ Countries Insight:
- Central
- East
- West
- South
Note: Should you require specific information beyond the current scope of the report, we are prepared to furnish it as part of our customization services.
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MarkNtel Advisors is a leading consulting, data analytics, and market research company that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
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