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Published: Jun, 2016 | Pages:
65 | 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 2020' report provides detailed analysis of market trends in the Saudi Arabian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, cash transactions, direct debits and credit transfers during the review period (2011-2015). The report also analyzes various payment card markets 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 (2016-2020). It also offers information on the country's competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.
Summary
Timetric's 'The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Saudi Arabian cards and payments industry, including: Current and forecast values for each market in the Saudi Arabian cards and payments industry, including debit and pay later cards. Detailed insights into payment instruments including credit transfers, direct debits, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments. E-commerce market analysis and payment types. Analysis of various market drivers and regulations governing the Saudi Arabian cards and payments industry. Detailed analysis of strategies adopted by banks and other institutions to market debit and pay later cards. Comprehensive analysis of consumer attitudes and buying preferences for cards. The competitive landscape in the Saudi Arabian cards and payments industry.
Scope
This report provides a comprehensive analysis of the Saudi Arabian cards and payments industry. It provides current values for the Saudi Arabian cards and payments industry for 2015, and forecast figures to 2020. It details the different demographic, economic, infrastructural and business drivers affecting the Saudi Arabian cards and payments industry. It outlines the current regulatory framework in the industry. It details marketing strategies used by various banks and other institutions.
Reasons To Buy
Make strategic business decisions, using top-level historic and forecast market data, related to the Saudi Arabian cards and payments industry and each market within it. Understand the key market trends and growth opportunities in the Saudi Arabian cards and payments industry. Assess the competitive dynamics in the Saudi Arabian cards and payments industry. Gain insights into marketing strategies used for various card types in Saudi Arabia. Gain insights into key regulations governing the Saudi Arabian cards and payments industry.
Key Highlights
The Saudi Arabian Monetary Agency (Sama) has taken a number of initiatives to encourage electronic payments, including establishing a new electronic payment system, mada, and mandatory wage payments into bank accounts. It launched a modified Saudi Payment Network (Span) as mada in September 2015. Span links all ATMs and point-of-sale (POS) terminals across the country to a central payment switch, and the regulator expects the new system to increase the use of POS terminals. To encourage the use of the POS terminals, the daily purchase limit per card was increased from US$5,333.3 (SAR20,000) to US$16,000 (SAR60,000). Moreover, mada card users are provided with a value-added service, Purchase with Cashback, through which cardholders can request that merchants add extra amounts to purchase prices and receive the amounts in cash. Consumers can withdraw a maximum of US$106.7 (SAR400) per day on each card at merchant stores using this facility. Sama launched the Wage Protection System (WPS) in collaboration with the Ministry of Labor in June 2013. Under the law, employees' salaries are paid directly into their bank accounts, from which they can withdraw cash and make payments at POS terminals using debit cards. WPS was implemented in phases depending on organizations' employee counts. Initially, it was mandatory for companies with an employee base of more than 3,000; this figure was reduced in phases to companies with 100 or more employees from November 2015. The emergence of digital only banks is likely to further encourage a shift towards electronic payments in Saudi Arabia. Gulf International Bank launched the first digital-only bank, Meem, in Saudi Arabia in January 2015. Meem offers online and mobile banking only, with no physical branches. At present, Meem only targets retail banking customers.
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 PayPal 6.1.2 M-Pesa 6.1.3 Payfort 6.1.4 Boku 6.1.5 Bango 6.1.6 T-Pay 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 Cards Market Analysis 10.1.1 Volume and value of payment card transactions by type 11 Debit Cards 11.1 Debit Card Market Analysis 11.1.1 Turnover per debit card and transaction values by channel 11.1.2 Debit card scheme and issuer shares in terms of transaction value 11.1.3 Debit cards comparison 12 Pay Later Cards 12.1 Pay Later Cards Market Analysis 12.1.1 Turnover per pay later card and transaction values by channel 12.1.2 Pay later card scheme and issuer shares in terms of transaction value 12.1.3 Pay later cards comparison 13 Commercial Pay Later Cards 13.1 Commercial Pay Later Cards Market Analysis 13.1.1 Commercial cards comparison 14 Card Issuers 14.1 Al Rajhi Bank 14.2 The National Commercial Bank 14.3 Riyad Bank 14.4 Arab National Bank 14.5 The Saudi British Bank 15 Appendix 15.1 Tables 15.2 Contact Timetric 15.3 About Timetric 15.4 Timetric's Services 15.5 Disclaimer
List of Tables
Table 1: Key Definitions Table 2: Annual Average Exchange Rate Table 3: Saudi Arabia- Key Facts, 2015 Table 4: Regional Benchmarking of Saudi Arabia's Payment Cards, 2015 Table 5: Saudi Arabia- Mode of Entry of Foreign Banks Table 6: Cards for High-Income Consumers, 2016 Table 7: Cards for Shoppers, 2016 Table 8: Cards for Online Shoppers, 2016 Table 9: Cards for Travelers, 2016 Table 10: Cards for Women, 2016 Table 11: Cards for Business Managers and Entrepreneurs, 2016 Table 12: Specialized Cards for SMEs, 2016 Table 13: Saudi Arabia- New Product Launches Table 14: Saudi Arabia- Debit Cards Comparison and Key Features, 2016 Table 15: Saudi Arabia- Gold Credit Cards Comparison and Key Features, 2016 Table 16: Saudi Arabia- Premium Credit Cards Comparison and Key Features, 2016 Table 17: Saudi Arabia- Charge Cards Comparison and Key Features, 2016 Table 18: Saudi Arabia- Commercial Cards Comparison and Key Features, 2016 Table 19: Saudi Arabia- Payment Instrument Transaction Values (SAR Billion), 2011-2015 Table 20: Saudi Arabia- Payment Instrument Transaction Values (US$ Billion), 2011-2015 Table 21: Saudi Arabia- Payment Instrument Transaction Volumes (Million), 2011-2015 Table 22: Saudi Arabia- Number of Payment Cards in Circulation by Type (Million), 2011-2020 Table 23: Saudi Arabia- Volume of Payment Card Transactions by Type (Million), 2011-2020 Table 24: Saudi Arabia- Value of Payment Card Transactions by Type (SAR Billion), 2011-2020 Table 25: Saudi Arabia- Value of Payment Card Transactions by Type (US$ Billion), 2011-2020 Table 26: Saudi Arabia- Number of Debit Cards in Circulation (Million), 2011-2020 Table 27: Saudi Arabia- Debit Card Transaction Volumes and Frequency by Channel, 2011-2020 Table 28: Saudi Arabia- Debit Card Total and Average Transaction Values by Channel, 2011-2020 Table 29: Saudi Arabia- Debit Card Total and Average Transaction Values by Channel, 2011-2020 Table 30: Saudi Arabia- Number of Debit Cards in Circulation by Scheme (Million), 2011-2015 Table 31: Saudi Arabia- Debit Card Transaction Values by Scheme (SAR Billion), 2011-2015 Table 32: Saudi Arabia- Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015 Table 33: Saudi Arabia- Debit Card Transaction Values by Issuer (SAR Billion), 2011-2015 Table 34: Saudi Arabia- Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015 Table 35: Saudi Arabia- Number of Pay Later Cards in Circulation (Million), 2011-2020 Table 36: Saudi Arabia- Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020 Table 37: Saudi Arabia- Pay Later Card Total and Average Transaction Values by Channel, 2011-2020 Table 38: Saudi Arabia- Pay Later Card Total and Average Transaction Values by Channel, 2011-2020 Table 39: Saudi Arabia- Number of Pay Later Cards in Circulation By Scheme (Thousand), 2011-2015 Table 40: Saudi Arabia- Pay Later Card Transaction Values By Scheme (SAR Billion), 2011-2015 Table 41: Saudi Arabia- Pay Later Card Transaction Values By Scheme (US$ Million), 2011-2015 Table 42: Saudi Arabia- Pay Later Card Transaction Values by Issuer (SAR Billion), 2011-2015 Table 43: Saudi Arabia- Pay Later Card Transaction Values by Issuer (US$ Billion), 2011-2015 Table 44: Saudi Arabia- Number of Credit Cards in Circulation (Million), 2011-2020 Table 45: Saudi Arabia- Credit Card Transaction Volumes and Frequency by Channel, 2011-2020 Table 46: Saudi Arabia- Credit Card Total and Average Transaction Values by Channel, 2011-2020 Table 47: Saudi Arabia- Credit Card Total and Average Transaction Values by Channel, 2011-2020 Table 48: Saudi Arabia- Number of Credit Cards in Circulation by Scheme (Million), 2011-2015 Table 49: Saudi Arabia- Credit Card Transaction Values by Scheme (SAR Billion), 2011-2015 Table 50: Saudi Arabia- Credit Card Transaction Values by Scheme (US$ Billion), 2011-2015 Table 51: Saudi Arabia- Number of Charge Cards in Circulation (Thousand), 2011-2020 Table 52: Saudi Arabia- Charge Card Transaction Volumes and Frequency by Channel, 2011-2020 Table 53: Saudi Arabia- Charge Card Total and Average Transaction Values by Channel, 2011-2020 Table 54: Saudi Arabia- Charge Card Total and Average Transaction Values by Channel, 2011-2020 Table 55: Saudi Arabia- Number of Charge Cards in Circulation by Scheme (Thousand), 2011-2015 Table 56: Saudi Arabia- Charge Card Transaction Values by Scheme (SAR Million), 2011-2015 Table 57: Saudi Arabia- Charge Card Transaction Values by Scheme (US$ Million), 2011-2015 Table 58: Saudi Arabia- Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020 Table 59: Saudi Arabia- Personal and Commercial Pay Later Card Transaction Values (SAR Billion), 2011-2020 Table 60: Saudi Arabia- Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020 Table 61: Saudi Arabia- Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020 Table 62: Saudi Arabia- Commercial Pay Later Card Transaction Values (SAR Million), 2011-2020 Table 63: Saudi Arabia- Commercial Pay Later Card Transaction Values (US$ Million), 2011-2020 Table 64: Saudi Arabia- Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
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