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Emerging Opportunities in the Kuwaits Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Published By :

Timetric

Published Date : Mar 2013

Category :

Banking

No. of Pages : 79 Pages

Synopsis

The report provides market analysis, information and insights into Kuwaits cards and payments industry, including:
  • Current and forecast values for each segment of Kuwaits cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industrys market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Kuwaits cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling prepaid cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Kuwaits cards and payments industry
Summary

Kuwaits cards industry as a whole grew moderately at a CAGR of 3.59% during the review period, primarily driven by the prepaid card category. Slow growth was mainly a result of the global economic crisis, which caused a decline in demand for oil and non-oil based exports and resulted in decreased rates of lending. During the review period (2008-2012), prepaid cards occupied the largest share in the overall cards and payments industry, and in volume terms recorded a CAGR of 37.83%. Charge cards grew at a CAGR of 4.02% over the same period, followed by debit cards with a CAGR of 2.58%.

The overall card industry is expected to grow at a CAGR of 4.44% over the forecast period (2013-2017), driven primarily by the prepaid cards category, which is expected to grow at a CAGR of 19.94%. The credit cards category is also expected to grow at a CAGR of 3.2% during the forecast period, while debit cards are expected to record a CAGR of 2.76%, and charge cards a CAGR of 3.59%.

Scope

  • This report provides a comprehensive analysis of Kuwaits cards and payments industry
  • It provides current values for Kuwaits cards and payments industry for 2012 and forecast figures for 2017
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Kuwaits cards and payments industry
  • It outlines the current regulatory framework in the industry
  • It details the marketing strategies used by various bankers and other institutions
  • It profiles the major banks in Kuwaits cards and payments industry
Reasons To Buy

  • Make strategic business decisions using historic and forecast market data related to Kuwaits cards and payments industry and each industry within it
  • Understand the key market trends and growth opportunities within Kuwaits cards and payments industry
  • Assess the competitive dynamics in Kuwaits cards and payments industry
  • Gain insights into the marketing strategies used for selling various types of cards in Kuwait
  • Gain insights into key regulations governing Kuwaits cards and payments industry
Key Highlights

  • Kuwaits cards industry as a whole grew moderately at a CAGR of 3.59% during the review period, primarily driven by the prepaid card category. 
  • In terms of value, the industry is expected to grow at a CAGR of 10.91% over the forecast period, from KWD17.2 billion (US$61.4 billion) in 2013 to KWD26.0 billion (US$93.0 billion) in 2017. 
  • Prepaid cards held the largest market share in the overall cards and payments industry during the review period.
  • Near Field Communication (NFC) technology is increasingly being adopted by payment network providers, service providers, merchants and mobile network operators in Kuwait.
  • The growing market for online trade in Kuwait is one of the primary factors responsible for the expansion of the countrys cards and payments industry.
  • The growing number of domestic and international tourists has created a demand for travel cards in the country, and many leading banks and card providers have issued travel cards targeting these consumers.
Table of Content

1 Executive Summary

2 Market Attractiveness and Future Prospects for the Cards and Payments Industry

3 Analysis of Kuwaiti Cards and Payments Market Drivers
3.1 Infrastructure Drivers
3.1.1 Migration to EMV cards
3.1.2 Emergence of Contactless and NFC technology enabled payments
3.1.3 M-Net mobile payments solution
3.1.4 Increasing number of internet users
3.1.5 Growing Number of POS terminals
3.1.6 Growing Number of ATMs
3.2 Business Drivers
3.2.1 Retail Industry
3.2.2 Growing E-commerce
3.2.3 Outbound business and leisure travel and tourism
3.3 Other Drivers
3.3.1 GDP growth
3.3.2 Stable inflation rate
3.3.3 Consumer confidence index
3.3.4 Consumer spending habits
3.4 Card Fraud Statistics
3.5 Regulatory Framework
3.5.1 Anti-Money Laundering (AML)
3.5.2 Guidelines regarding credit cards issued by local and Islamic banks

4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.2 Retail Segment
4.2.1 Targeting high net worth individuals (HNWIs)
4.2.2 Cards targeted at outbound leisure tourists
4.2.3 Cards targeted at niche segments
4.3 Corporate Segment
4.3.1 Businesses and departments
4.4 Consumer Preference
4.4.1 Price
4.4.2 Services
4.4.3 Convenience
4.5 Online Buying Behavior

5 Competitive Landscape and Industry Dynamics
5.1 Market Share Analysis by Payment Channels
5.1.1 Overview of payment channels
5.1.2 Credit transfer
5.1.3 Card payments
5.1.4 Check payments
5.2 Debit Cards
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards

6 Strategies Adopted by Key Operators
6.1 Market entry strategies
6.2 Marketing / Product Strategy
6.2.1 Credit cards
6.2.2 Prepaid cards
6.3 Pricing Strategies

7 Market Size and Growth Potential of the Payment Cards Industry
7.1 Market Share Analysis by Type of Card
7.2 Total Market Size and Forecast of the Card Industry
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Cards Market Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Prepaid Cards Market Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 Analysis by segments - open and closed-loop cards
7.4.3 Analysis by transaction value
7.5 Charge Cards Market Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by transaction volume
7.5.4 Frequency of use
7.6 Credit Card Category Size and Forecast
7.6.1 Analysis by number of cards
7.6.2 Analysis by transaction value
7.6.3 Analysis by transaction volume
7.6.4 Other key performance indicators

8 Company Profiles, Product, and Marketing Strategies
8.1 National Bank of Kuwait
8.1.1 Strategies
8.2 Kuwait Finance House
8.2.1 Strategies
8.2.2 Kuwait Finance House key financial indicators
8.3 Commercial Bank of Kuwait
8.3.1 Strategies
8.3.2 Commercial Bank of Kuwait key financial indicators

9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.4 Disclaimer

List of Table


Table 1: Kuwait Non-Cash Payment Channels (KWD Million), 2008-2012
Table 2: Kuwait Cards Industry by Type of Card (Thousands), 2008-2017
Table 3: Kuwait Cards Industry Size by Number of Cards (Thousands), 2008-2017
Table 4: Kuwait Cards Industry Size by Transaction Value (KWD Million), 2008-2017
Table 5: Kuwait Cards Industry Size by Transaction Value (US$ Million), 2008-2017
Table 6: Kuwait Cards Industry Size by Transaction Volume (Million), 2008-2017
Table 7: Kuwait Debit Card Category Size (Thousands), 2008-2017
Table 8: Kuwait Debit Card Category Size (KWD Million), 2008-2017
Table 9: Kuwait Debit Card Category Size (US$ Million), 2008-2017
Table 10: Kuwait Debit Card Category Size by Transaction Volume (Million), 2008-2017
Table 11: Kuwait Debit Card Category Size by Frequency of Use (Transaction/Card/Year), 2008-2017
Table 12: Kuwait Prepaid Card Category Size by Volume of Cards (Thousands), 2008-2017
Table 13: Kuwait Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousands), 2008-2017
Table 14: Kuwait Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousands), 2008-2017
Table 15: Kuwait Prepaid Cards Category Size by Transaction Value (KWD Million), 2008-2017
Table 16: Kuwait Prepaid Cards Category Size by Transaction Value (US$ Million), 2008-2017
Table 17: Kuwait Charge Card Category Size by Volume of Cards (Thousands), 2008-2017
Table 18: Kuwait Charge Card Category Size by Transaction Value (KWD Million), 2008-2017
Table 19: Kuwait Charge Card Category Size by Transaction Value (US$ Million), 2008-2017
Table 20: Kuwait Charge Card Category Size by Transaction Volume (Million), 2008-2017
Table 21: Kuwait Charge Card Category Size by Frequency of Use (Transaction/Card/Year), 2008-2017
Table 22: Kuwait Credit Card Category Size by Number of Cards (Thousands), 2008-2017
Table 23: Kuwait Credit Card Category Size by Transaction Value (KWD Million), 2008-2017
Table 24: Kuwait Credit Card Category Size by Transaction Value (US$ Million), 2008-2017
Table 25: Kuwait Credit Card Category Size by Transaction Volume (Million), 2008-2017
Table 26: Kuwait Credit Card Category Size by Frequency of Use, 2008-2017
Table 27: Kuwait Credit Card Category Size by Average Transaction Value (KWD), 2008-2017
Table 28: Kuwait Credit Card Category Size by Average Transaction Value (US$), 2008-2017
Table 29: Kuwait Finance House Key Financial Indicators, 2010-2011
Table 30: Commercial Bank of Kuwait Key Financial Indicators, 2010-2011

List of Chart


Figure 1: Current and Future Prospects of Various Cards in Kuwait
Figure 2: Growth Potential of Kuwait Cards and Payments Industry by Area of Use
Figure 3: Kuwaits Cards and Payments Industry Drivers
Figure 4: Number of Internet Users in Kuwait (Million), 2008-2012
Figure 5: Number of POS Terminals in Kuwait (Thousand), 2008-2017
Figure 6: Number of ATMs in Kuwait (Thousand), 2008-2017
Figure 7: Retail Sales (KWD Billion), 2008-2012
Figure 8: Gulf Corporation Council (GCC) Countries Business to Customer (B2C) E-Sales (US$ Million), 2011
Figure 9: Expenditure on Outbound Travel and Tourism in Kuwait (KWD Billion), 2008-2012
Figure 10: GDP Growth Rate (%), 2008-2017
Figure 11: Kuwait Inflation (Annual Change of CPI) (%), 2008-2017
Figure 12: Consumer Confidence Index of GCC Countries, 2012
Figure 13: Kuwait Card Fraud Value (KWD Million), 2008-2012
Figure 14: Central Bank of Kuwaits AML Guidelines
Figure 15: Credit Card Guidelines
Figure 16: Kuwaiti Cards and Payments Industry Segmentation by Card Type
Figure 17: Cards for Premium Customers in Kuwait
Figure 18: Cards Offered for travel and tourism in Kuwait
Figure 19: Consumer Preferences by Card Type
Figure 20: Share of Non-Cash Payment Channels in Kuwait (%), 2012
Figure 21: Kuwait Credit Transfer Transaction Volume ( Million), 2008-2012
Figure 22: Value and Growth of Cards Payments in Kuwait (KWD Million), 2008-2012
Figure 23: Kuwait Value and Growth of Check Payment (KWD Million), 2008-2012
Figure 24: Kuwait Debit Cards Market Share by Issuing Banks (%), 2011
Figure 25: Kuwait Debit Cards Market Share by Scheme (%), 2011
Figure 26: Kuwait Credit Cards Market Share by Bank (%), 2011
Figure 27: Kuwait Credit Cards Market Share by Scheme (%), 2011
Figure 28: Kuwait Charge Cards Market Share by Scheme (%), 2011
Figure 29: Regulations for opening a foreign bank branch in Kuwait
Figure 30: Kuwait Marketing Strategies Based on Card Type
Figure 31: Rewards and discounts offered by Kuwait Finance House
Figure 32: Travel Insurance Offered by the National Bank of Kuwait
Figure 33: Co-Branded Cards Offered in Kuwait
Figure 34: Travel Cards Offered in Kuwait
Figure 35: Gift Cards Offered in Kuwait
Figure 36: Credit Card Pricing Strategy of Various Service Providers
Figure 37: Kuwait Cards Industry by Type of Card (%), 2008-2017
Figure 38: Kuwait Cards Industry Size by Number of Cards (Thousands), 2008-2017
Figure 39: Kuwait Cards Industry Size by Transaction Value (KWD Million), 2008-2017
Figure 40: Kuwait Cards Industry Size by Transaction Volume (Million), 2008-2017
Figure 41: Kuwait Debit Card Category Size (Thousands), 2008-2017
Figure 42: Kuwait Debit Card Category Size (KWD Million), 2008-2017
Figure 43: Kuwait Debit Card Category Size by Transaction Volume (Million), 2008-2017
Figure 44: Kuwait Debit Card Category Size by Frequency of Use (Transaction/Card/Year), 2008-2017
Figure 45: Debit Card Usage ATMs and POS Terminals (Thousands), 2008-2017
Figure 46: Kuwait Prepaid Card Category Size by Volume of Cards (Thousands), 2008-2017
Figure 47: Kuwait Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousands), 2008-2017
Figure 48: Kuwait Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousands), 2008-2017
Figure 49: Kuwait Prepaid Cards Category Size by Transaction Value (KWD Million), 2008-2017
Figure 50: Kuwait Charge Card Category Size by Volume of Cards (Thousands), 2008-2017
Figure 51: Kuwait Charge Card Category Size by Transaction Value (KWD Million), 2008-2017
Figure 52: Kuwait Charge Card Category Size by Transaction Volume (Million), 2008-2017
Figure 53: Kuwait Charge Card Category Size by Frequency of Use (Transaction/Card/Year),
Figure 54: Kuwait Credit Card Category Size by Number of Cards (Thousands), 2008-2017
Figure 55: Kuwait Credit Card Category Size by Transaction Value (KWD Million), 2008-2017
Figure 56: Kuwait Credit Card Category Size by Transaction Volume (Million), 2008-2017
Figure 57: Kuwait Credit Card Category Size by Frequency of Use, 2008-2017
Figure 58: Kuwait Credit Card Category Size by Average Transaction Value (KWD), 2008-2017
Figure 59: Cards Offered by the National Bank of Kuwait
Figure 60: Cards Offered by Kuwait Finance House
Figure 61: Cards Offered by Commercial Bank of Kuwait

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