GCC Financial Cards & Payments Market 2023 Booming Across the Globe by Growth, Segments and Forecast 2028

MarkNtel Advisors has released a research report on the GCC Financial Cards & Payments Market, covering the forecast period from 2023 to 2028. The research segment utilizes efficient methodologies to convey sales and revenue forecasts for the specified years, enhancing user understanding and supporting well-informed decision-making. Through a combination of qualitative and quantitative data, this report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges. To familiarize both existing businesses and new entrants with the present market scenario, the report delivers detailed growth prospects for the industry and concise insights into competitors.

GCC Financial Cards & Payments Market Insights:

The Global GCC Financial Cards & Payments Market is anticipated to grow at a CAGR of around 11.2% during the forecast period, i.e., 2023-28.

This thorough examination encompasses crucial details on market trends, size, forecasts, factors contributing to growth, challenges, and evaluations of competitors. The report conducts a comprehensive assessment of the GCC Financial Cards & Payments Market, offering insights into the latest advancements and presenting an overview of the market landscape.

Key Driver: Expanding E-commerce Industry Across the Region

The growing e-commerce industry across the GCC region has well-supported the financial cards and payments market in the historical years. The countries, such as the UAE, Saudi Arabia, Qatar, etc., have witnessed a significant surge in online retail sales due to high investments by the global retail players in the lucrative market GCC. For instance, in 2020, Carrefour and Lulu Group, two of the largest retailers in the Middle East, launched their online shopping portals in the UAE. The countries, including the UAE, Qatar, Kuwait, and Bahrain have almost 100% of the population with internet and mobile phone access.

Due to this, the transactional volume through payments made via financial cards, such as debit cards, prepaid cards, credit cards, etc., has increased considerably. According to the International Trade Administration (ITA), e-commerce sales in the UAE recorded USD3.9 billion in revenues during 2020, a jump of 53% from 2019. Moreover, the Dubai Chamber of Commerce and Industry forecasts e-commerce to generate USD8 billion in sales by the year 2025. Hence, it is expected that the ever-growing e-commerce market in the region would promulgate the demand for financial cards and payments in the forecast years.

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GCC Financial Cards & Payments Market Segmentation Analysis

A thorough examination of the GCC Financial Cards & Payments Market is presented in our research report, meticulously delving into key market segments:

By Type of Card

-Credit Card

-Debit Card

-Charge Card

-Prepaid Card

By Type of Payments

-B2B

-B2C

-C2C

-C2B

–E-Commerce Shopping

–Payments at POS Terminals

–Others

By Type of Transactions

-Domestic

-Foreign

By Card Issuing Institution

-Banking

-Non-Banking

By Country

-Saudi Arabia

-The UAE

-Qatar

-Bahrain

-Kuwait

-Oman

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Analysis of GCC Financial Cards & Payments Market Share:

The GCC Financial Cards & Payments Market’s competitive environment is examined extensively via a comprehensive analysis of its competitors. This analysis provides in-depth information on each company’s profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic moves in the market, worldwide footprint, strengths and weaknesses, and notable product/service introductions and dominance. The information outlined above offers a comprehensive overview of the prominent market players, including,

-Visa

-Mastercard

-American Express

-Citibank

-HSBC

-PayPal express checkout

-HDFC Bank

-Diners Club

-Barclays

-Hyperpay

-Others

Frequently Asked Questions (FAQs)

  • How are cost and profit estimations evolving within the GCC Financial Cards & Payments Industry?
  • How do factors such as supply and consumption contribute to the industry landscape?
  • How do import and export considerations influence the dynamics of the GCC Financial Cards & Payments Industry?
  • Which technological advancements are expected to influence the future of the GCC Financial Cards & Payments Market?
  • Who are the prominent players featured in the GCC Financial Cards & Payments Market research report?
  • What are the projected valuations in USD, and what is the CAGR for the forecasted years?

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Investment Opportunities, Challenges, and Size Assessment in GCC Financial Cards & Payments Market – Growth Study for 2023-2028

MarkNtel Advisors who is leading market research company, has recently published a research report, titled GCC Financial Cards & Payments Market”. The report is estimated historical data, base year and forecast period and the projections are made for the next five years, i.e., 2023-28. The data, facts, and figures are sourced from reliable platforms, including government portals, white papers, and others.

Important Notes: In case you missed it, we are currently revising our reports. Click on the “request Sample report” button to get the most latest research data with forecast for years 2024 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.

Market Study Period

Historical Data: 2018-21

Base Year: 2022

Forecast Period: 2023-28

CAGR (2023-2028): 11.2%

GCC Financial Cards & Payments Market Insights:

The GCC Financial Cards & Payments Market is projected to grow at a CAGR of around 11.2% during the forecast period, i.e., 2023-28. The report covers each and every aspect of the market in detail, offering actionable insights to the stakeholders. We extensively cover key trends, opportunities, possible challenges, and major growth drivers for the industry. The report also highlights the role and involvement of governments and other relevant factors that promote market growth.

GCC Financial Cards & Payments Market Drivers:

Expanding E-commerce Industry Across the Region – The growing e-commerce industry across the GCC region has well-supported the financial cards and payments market in the historical years. The countries, such as the UAE, Saudi Arabia, Qatar, etc., have witnessed a significant surge in online retail sales due to high investments by the global retail players in the lucrative market GCC. For instance, in 2020, Carrefour and Lulu Group, two of the largest retailers in the Middle East, launched their online shopping portals in the UAE. The countries, including the UAE, Qatar, Kuwait, and Bahrain have almost 100% of the population with internet and mobile phone access.

Explore the Complete GCC Financial Cards & Payments Market Analysis Report – https://www.marknteladvisors.com/research-library/gcc-financial-cards-payments-market.html

Which segments are covered in the GCC Financial Cards & Payments Market Research Report?

  • By Type of Card
    • Credit Card
    • Debit Card
    • Charge Card
    • Prepaid Card
  • By Type of Payments
    • B2B
    • B2C
    • C2C
    • C2B
      • E-Commerce Shopping
      • Payments at POS Terminals
      • Others
  • By Type of Transactions
    • Domestic
    • Foreign
  • By Card Issuing Institution
    • Banking
    • Non-Banking
  • By Country
    • Saudi Arabia
    • The UAE
    • Qatar
    • Bahrain
    • Kuwait
    • Oman

Top 10 Key Brands/Players in the GCC Financial Cards & Payments Market

Our analysts have closely analyzed leading players within the industry, providing stakeholders with valuable insights into the competitive landscape. This enables them to formulate strategic tactics based on the comprehensive data compiled in the report. The information encompasses recent developments, mergers and acquisitions, product/service launches, expansion plans, and revenue-generating opportunities. Notable entities featured in the report include:

  • Visa
  • Mastercard
  • American Express
  • Citibank
  • HSBC
  • PayPal express checkout
  • HDFC Bank
  • Diners Club
  • Barclays
  • Hyperpay
  • Others

For a Customized Analysis Report, Just Drop Your Inquiry Here – https://www.marknteladvisors.com/query/request-customization/gcc-financial-cards-payments-market.html

Frequently Asked Questions

  1. Which companies dominate the GCC Financial Cards & Payments Market in terms of market share?
  2. What is the projected market size of GCC Financial Cards & Payments Market in 2028?
  3. What key factor is anticipated to propel the GCC Financial Cards & Payments Market by 2028?
  4. How big is the GCC Financial Cards & Payments Market?

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