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Emerging Opportunities in the UAEs 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 : 89 Pages

Synopsis

The report provides market analysis, information and insights into the UAEs cards and payments industry, including:
  • Current and forecast values for each segment of the UAEs 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 the UAEs 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 the UAEs cards and payments industry
Summary

The UAE is an open economy with a high per capita income and annual trade surplus. It is a federation of seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al- Khaimah, Sharjah and Umm al-Quwain, formed on December 2, 1971. The government transformed the economy by forming a business environment which directly benefits the economic growth of the country. 

Such efforts have seen the UAE rapidly emerge as an important hub for international trade, finance and tourism which has attracted large inflows of foreign direct investment (FDI) and expatriate workers. Moreover, successful efforts at economic diversification have reduced the portion of GDP as a proportion of oil and gas output to 25%. 

The cards and payments industry grew at a CAGR of 7.18% during the review period and was primarily driven by the prepaid card category. It is expected to grow at a CAGR of 5.55% over the forecast period. During the review period, prepaid cards occupied the largest share in the overall cards and payments industry, and recorded a CAGR of 13.33%. Debit cards grew at a CAGR of 8.19% followed by charge cards which grew at a CAGR of 5.62% during the same period. Credit cards grew marginally, at a CAGR of 0.92%.

Scope

  • This report provides a comprehensive analysis of the UAEs cards and payments industry
  • It provides current values for the UAEs cards and payments industry for 2012 and forecast figures for 2017
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting the UAEs 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 the UAEs cards and payments industry
Reasons To Buy

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

  • The UAE's card industry as a whole grew significantly at a CAGR of 7.18% during the review period, primarily driven by the debit and prepaid card categories. 
  • The overall card industry is expected to grow at a CAGR of 5.56% over the forecast period, driven primarily by the prepaid cards category, which is expected to grow at a CAGR of 9.45%. 
  • As banking customers become more sophisticated, banks are looking to differentiate their product offerings, and card customization is gaining attention.
  • Contactless and NFC payments are also being rolled out extensively across the UAE.
  • The growing market for online trade in the UAE is one of the primary factors responsible for the expansion of the countrys cards and payments industry.
Table of Content

1 Executive Summary

2 Market Attractiveness and Future Prospects of Cards and Payments Industry

3 Analysis of the UAE Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 Migration to EMV cards
3.1.2 Adaption of smart cards
3.1.3 ICT based mobile payments for government services
3.1.4 Emergence of NFC and contactless technology
3.1.5 Dubai Metro launches prepaid card
3.1.6 Innovative iVestor prepaid card
3.1.7 Growing Number of POS
3.1.8 Growing number of ATMs
3.2 Business Drivers
3.2.1 Growing retail industry
3.2.2 Growth in e-commerce
3.2.3 Growth in mobile commerce
3.2.4 Outbound business and leisure travel and tourism
3.3 Other Growth Drivers
3.3.1 Consumer confidence index
3.3.2 GDP growth
3.3.3 Inflation rate
3.4 Card Fraud Statistics
3.5 Regulatory Framework
3.5.1 UAE mandates the migration to EMV Chip and PIN
3.5.2 Provisions for use of credit cards
3.5.3 UAE mandates the use of IBANs

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 niche segments
4.2.3 Cards targeted at outbound leisure tourists
4.3 Corporate Segment
4.3.1 Businesses and departments
4.3.2 Cards offered for outbound business travelers
4.4 Consumer Preference
4.4.1 Price
4.4.2 Services
4.4.3 Convenience
4.5 Online Buying Behaviour
4.6 Preferred Payment Methods

5 Competitive Landscape and Industry Dynamics
5.1 Market Share Analysis by Payment Channels
5.1.1 Overview of payment channels
5.1.2 Cards payments
5.1.3 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 Players
6.1 Market Entry Strategies
6.2 Marketing and Product Strategy
6.2.1 Credit cards
6.2.2 Debit cards
6.2.3 Charge cards
6.3 Pricing Strategies

7 Market Size and Growth Potential of Payment Card Industry
7.1 Market Share Analysis by Type of Card
7.2 Total Market Size and Forecast of 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 Card Category 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 Card Category 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 Card 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 Abu Dhabi Commercial Bank
8.1.1 Strategies
8.1.2 Abu Dhabi Commercial Bank key financial
8.2 Dubai Islamic Bank
8.2.1 Strategies
8.2.2 Dubai Islamic Bank key financial
8.3 Emirates National Bank of Dubai
8.3.1 Strategies

9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.3.1 Timetrics approach
9.4 Services
9.5 Disclaimer

List of Table


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

List of Chart


Figure 1: Current and Future Prospects of Various Cards in the UAE
Figure 2: Growth Potential of the UAE Cards and Payments Industry by Area of Use
Figure 3: The UAE Cards and Payments Industry Drivers
Figure 4: Number of POS Terminals in the UAE (Thousands), 2008

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