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The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2019

Published: Feb 27, 2016 | Pages: 72 | Publisher: Timetric | Industry: Financial Services | Report Format: Electronic (PDF)

Synopsis
Timetric's 'The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Saudi Arabia cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (2010-2014). The report also analyzes various payment cards market operating in the industry and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2015-2019). It also offers information on the country's competitive landscape, including market shares of issuers and schemes. The report brings together Timetric's 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, recent changes in regulatory structure and profiles of card issuers operating in the country.
Summary
Timetric's 'The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into Saudi Arabia cards and payments industry, including: Current and forecast values for each market in Saudi Arabia cards and payments industry, including debit card, credit and charge cards. It also includes detailed analysis of the prepaid card market. Detailed insights into payment instruments including credit transfers, cash transactions, checks, direct debits and payment cards. It also, includes an overview of the country's key alternative payment instruments. E-commerce market analysis and online payment types. Analysis of various market drivers and regulations governing Saudi Arabia cards and payments industry. Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards. Comprehensive analysis of consumer attitudes and buying preferences for cards. The competitive landscape of Saudi Arabia cards and payments industry.
Scope
This report provides a comprehensive analysis of Saudi Arabia cards and payments industry. It provides current values for Saudi Arabia cards and payments industry for 2014, and forecast figures to 2019. It details the different demographic, economic, infrastructural and business drivers affecting Saudi Arabia cards and payments industry. It outlines the current regulatory framework in the industry. It details marketing strategies used by various banks and other institutions. It profiles major banks in Saudi Arabia cards and payments industry.
Reasons To Buy
Make strategic business decisions, using top-level historic and forecast market data, related to Saudi Arabia cards and payments industry and each market within it. Understand the key market trends and growth opportunities in Saudi Arabia cards and payments industry. Assess the competitive dynamics in Saudi Arabia 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 cards and payments industry.
Key Highlights
To encourage the use of electronic payments, the Saudi Arabian Monetary Agency (SAMA) undertook a number of initiatives, including the establishment of its new electronic payment system 'mada', and mandatory wage payment into bank accounts. It launched its modified Saudi Payment Network (SPAN) as 'mada' in September 2015. SPAN links all the ATMs and point-of-sale (POS) terminals to a central payment switch across the country. The regulator expects that the new system will increase the use of POS terminals. To encourage the use of the POS terminals, the daily purchase limit was increased from US$5,333.3 (SAR20,000) to US$16,000 (SAR60,000). SAMA, in collaboration with the Ministry of Labor, launched the Wage Protection System (WPS) in June 2013. Under the law, employees' salaries were paid directly into bank accounts, from which they can withdraw with debit cards. WPS was implemented in phases depending on the number of employees an organization had. Initially, it was mandatory for companies with an employee base of more than 3,000, which was further reduced in phases to companies with 100 or more employees from November 2015. Technology adoption in the cards and payments industry achieved a new level in Saudi Arabia, when Riyad Bank issued the country's first contactless debit card - Riyad Bank Debit MasterCard - in May 2015. The card provides enhanced security and convenience, and is accepted across 35 million merchants globally. The card can be used for small value transactions of less than US$20 (SAR75) without the need to enter a PIN. With payment cards gaining in popularity among consumers, the introduction of contactless cards is likely to encourage card based payments even for low value transactions.
 Table of Contents
1 Definitions and Methodology 1.1 Definitions 1.2 Methodology 2 Key Facts and Events 3 Executive Summary 4 Payment Instruments 4.1 Current Payment Environment 5 E-Commerce 5.1 E-Commerce Market Analysis 6 Alternative Payments 6.1 Alternative Payment Instruments 6.1.1 Boku 6.1.2 Bango 6.1.3 T-Pay 6.1.4 M-Pesa 6.1.5 PayPal 6.1.6 Payfort 7 Regulations in the Cards and Payments Industry 7.1 Regulatory Framework 7.1.1 Payment systems 7.2 The Wage Protection Law 7.3 Anti-Money Laundering (AML) 7.4 Foreign Direct Investment (FDI) Regulations 8 Analysis of Cards and Payments Industry Drivers 8.1 Demographic Drivers 8.2 Economic Drivers 8.3 Infrastructure Drivers 8.4 Business Drivers 9 Market Segmentation and New Product Launches 9.1 Market Segmentation and Targeting 9.1.1 Consumer cards 9.1.2 Commercial cards 9.2 New Product Launches 10 Payment Cards 10.1 Payment Card Analysis 10.1.1 Volume and value of payment card transactions by type 10.1.2 Personal vs commercial cards 11 Debit Cards 11.1 Debit Card Market Analysis 11.1.1 Debit card transaction volumes and values by channel 11.1.2 Debit card scheme and issuer shares in terms of transaction value 11.1.3 Debit cards comparison 12 Credit Cards 12.1 Credit Card Market Analysis 12.1.1 Credit card transaction volumes and values by channel 12.1.2 Credit card scheme and issuer shares in terms of transaction value 12.1.3 Credit cards comparison 13 Charge Cards 13.1 Charge Card Market Analysis 13.1.1 Charge card transaction volumes and values by channel 13.1.2 Charge card scheme shares in terms of transaction value 13.1.3 Charge cards comparison 14 Commercial Cards 14.1 Commercial Card Market Analysis 14.1.1 Commercial cards comparison 15 Card Issuers 15.1 Al Rajhi Bank 15.2 The National Commercial Bank 15.3 Riyad Bank 15.4 Arab National Bank 15.5 The Saudi British Bank 16 Prepaid Cards 16.1 Prepaid Card Market Analysis 16.1.1 Prepaid cards comparison 17 Appendix 17.1 Tables 17.2 Contact Timetric 17.3 About Timetric 17.4 Timetric's Services 17.5 Disclaimer
List of Tables
Table 1: Key Definitions Table 2: Annual Average Exchange Rate Table 3: Saudi Arabia - Key Facts, 2014 Table 4: Regional Benchmarking of Saudi Arabia's Payment Cards, 2014 Table 5: Saudi Arabia - Mode of Entry of Foreign Banks Table 6: Cards for High-Income Consumers, 2015 Table 7: Co-branded Cards by Bank, 2015 Table 8: Cards for Travelers, 2015 Table 9: Cards for Shoppers, 2015 Table 10: Cards for Online Shoppers, 2015 Table 11: Cards for Unbanked Population, 2015 Table 12: Cards for Women, 2015 Table 13: Specialized Cards for Business Managers and Entrepreneurs, 2015 Table 14: Specialized Cards for SMEs, 2015 Table 15: Saudi Arabia - New Product Launches Table 16: Saudi Arabia - Debit Cards Comparison and Key Features, 2015 Table 17: Saudi Arabia - Gold Credit Cards Comparison and Key Features, 2015 Table 18: Saudi Arabia - Premium Credit Cards Comparison and Key Features, 2015 Table 19: Saudi Arabia - Charge Cards Comparison and Key Features, 2015 Table 20: Saudi Arabia - Commercial Cards Comparison and Key Features, 2015 Table 21: Saudi Arabia - Prepaid Cards Comparison and Key Features, 2015 Table 22: Saudi Arabia - Payment Instrument Transaction Values (SAR Billion), 2010-2014 Table 23: Saudi Arabia - Payment Instrument Transaction Values (US$ Billion), 2010-2014 Table 24: Saudi Arabia - Payment Instrument Transaction Volumes (Million), 2010-2014 Table 25: Saudi Arabia - Number of Payment Cards in Circulation by Type (Million), 2010-2019 Table 26: Saudi Arabia - Volume of Payment Card Transactions by Type (Million), 2010-2019 Table 27: Saudi Arabia - Value of Payment Card Transactions by Type (SAR Billion), 2010-2019 Table 28: Saudi Arabia - Value of Payment Card Transactions by Type (US$ Billion), 2010-2019 Table 29: Saudi Arabia - Personal and Commercial Card Transaction Volumes (Million), 2010-2019 Table 30: Saudi Arabia - Personal and Commercial Card Transaction Values (SAR Billion), 2010-2019 Table 31: Saudi Arabia - Personal and Commercial Card Transaction Values (US$ Billion), 2010-2019 Table 32: Saudi Arabia - Number of Debit Cards in Circulation (Million), 2010-2019 Table 33: Saudi Arabia - Debit Card Transaction Volumes and Frequency by Channel, 2010-2019 Table 34: Saudi Arabia - Debit Card Total and Average Transaction Values by Channel, 2010-2019 Table 35: Saudi Arabia - Debit Card Total and Average Transaction Values by Channel, 2010-2019 Table 36: Saudi Arabia - Number of Debit Cards in Circulation by Scheme (Million), 2010-2014 Table 37: Saudi Arabia - Debit Card Transaction Values by Scheme (SAR Billion), 2010-2014 Table 38: Saudi Arabia - Debit Card Transaction Values by Scheme (US$ Billion), 2010-2014 Table 39: Saudi Arabia - Debit Card Transaction Values by Issuer (SAR Billion), 2010-2014 Table 40: Saudi Arabia - Debit Card Transaction Values by Issuer (US$ Billion), 2010-2014 Table 41: Saudi Arabia - Number of Credit Cards in Circulation (Million), 2010-2019 Table 42: Saudi Arabia - Credit Card Transaction Volumes and Frequency by Channel, 2010-2019 Table 43: Saudi Arabia - Credit Card Total and Average Transaction Values by Channel, 2010-2019 Table 44: Saudi Arabia - Credit Card Total and Average Transaction Values by Channel, 2010-2019 Table 45: Saudi Arabia - Number of Credit Cards in Circulation by Scheme (Thousand), 2010-2014 Table 46: Saudi Arabia - Credit Card Transaction Values by Scheme (SAR Billion), 2010-2014 Table 47: Saudi Arabia - Credit Card Transaction Values by Scheme (US$ Billion), 2010-2014 Table 48: Saudi Arabia - Pay Later Card Transaction Values by Issuer (SAR Billion), 2010-2014 Table 49: Saudi Arabia - Pay Later Card Transaction Values by Issuer (US$ Billion), 2010-2014 Table 50: Saudi Arabia - Credit Card Balances Outstanding by Issuer (SAR Billion), 2010-2014 Table 51: Saudi Arabia - Credit Card Balances Outstanding by Issuer (US$ Billion), 2010-2014 Table 52: Saudi Arabia - Number of Charge Cards in Circulation (Thousand), 2010-2019 Table 53: Saudi Arabia - Charge Card Transaction Volumes and Frequency by Channel, 2010-2019 Table 54: Saudi Arabia - Charge Card Total and Average Transaction Values by Channel, 2010-2019 Table 55: Saudi Arabia - Charge Card Total and Average Transaction Values by Channel, 2010-2019 Table 56: Saudi Arabia - Number of Charge Cards in Circulation by Scheme (Thousand), 2010-2014 Table 57: Saudi Arabia - Charge Card Transaction Values by Scheme (SAR Billion), 2010-2014 Table 58: Saudi Arabia - Charge Card Transaction Values by Scheme (US$ Million), 2010-2014 Table 59: Saudi Arabia - Number of Commercial Cards in Circulation (Thousand), 2010-2019 Table 60: Saudi Arabia - Commercial Card Transaction Values (SAR Billion), 2010-2019 Table 61: Saudi Arabia - Commercial Card Transaction Values (US$ Million), 2010-2019 Table 62: Saudi Arabia - Number of Prepaid Cards in Circulation (Million), 2010-2019 Table 63: Saudi Arabia - Prepaid Cards Transaction Value (SAR Billion), 2010-2019 Table 64: Saudi Arabia - Prepaid Cards Transaction Value (US$ Million), 2010-2019


List of Figures
Figure 1: Saudi Arabia - Payment Instrument Shares by Transaction Value (%), 2010 and 2014 Figure 2: Saudi Arabia - Payment Instrument Shares by Transaction Volume (%), 2010 and 2014 Figure 3: Saudi Arabia - E-Commerce Value (US$ Million), 2010-2019 Figure 4: Saudi Arabia - Total Population and Structure, 2010-2019 Figure 5: Saudi Arabia - Economic Indicators, 2010-2019 Figure 6: Saudi Arabia - Number of ATMs, POS Terminals and Bank Branches, 2010-2019 Figure 7: Saudi Arabia - Retail Sales and Real Household Final Consumption Expenditure, 2010-2014 Figure 8: Saudi Arabia - Segmentation by Card Type, 2015 Figure 9: Saudi Arabia - Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2010-2019 Figure 10: Saudi Arabia - Volume and Value of Payment Card Transactions by Type (%), 2010-2019 Figure 11: Saudi Arabia - Personal and Commercial Card, Transaction Volumes and Values (%), 2010-2019 Figure 12: Saudi Arabia - Growth in Debit Card Transaction Values and Number of Debit Cards in Circulation, 2010-2019 Figure 13: Saudi Arabia - Debit Card Transaction Volumes and Values by Channel, 2010-2019 Figure 14: Saudi Arabia - Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014 Figure 15: Saudi Arabia - Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010-2019 Figure 16: Saudi Arabia - Credit Card Transaction Volumes and Values by Channel, 2010-2019 Figure 17: Saudi Arabia - Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014 Figure 18: Saudi Arabia - Growth in Charge Card Transaction Values and Number of Charge Cards in Circulation, 2010-2019 Figure 19: Saudi Arabia - Charge Card Transaction Volumes and Values by Channel, 2010-2019 Figure 20: Saudi Arabia - Charge Card Scheme Shares in Terms of Transaction Value (%), 2014 Figure 21: Saudi Arabia - Number of Commercial Cards in Circulation and Transaction Value, 2010-2019 Figure 22: Saudi Arabia - Number of Prepaid Cards in Circulation and Transaction Value, 2010-2019

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