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The Cards and Payments Industry in Oman: Emerging Trends and Opportunities to 2020

Published By :

Timetric

Published Date : Aug 2016

Category :

Banking

No. of Pages : 45 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Oman: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Omani cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including direct debits, check payments, payment cards and credit transfers during the review period (20112015).

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 (20162020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetrics 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
Timetrics 'The Cards and Payments Industry in Oman: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Omani cards and payments industry, including:

Current and forecast values for each market in the Omani cards and payments industry, including debit card and credit cards.

Detailed insights into payment instruments including direct debit, credit transfers, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.

E-commerce market analysis.

Analysis of various market drivers and regulations governing the Omani cards and payments industry.

Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape in the Omani cards and payments industry.

Scope
This report provides a comprehensive analysis of the Omani cards and payments industry.

It provides current values for the Omani cards and payments industry for 2015, and forecast figures to 2020.

It details the different demographic, economic, infrastructural and business drivers affecting the Omani 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 Omani cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the Omani cards and payments industry.

Assess the competitive dynamics in the Omani cards and payments industry.

Gain insights into marketing strategies used for various card types in Oman.

Gain insights into key regulations governing the Omani cards and payments industry.

Key Highlights
To capitalize on the rising preference for Sharia-compliant banking and payment services among Omanis, banks are increasingly offering Sharia-compliant credit cards. In December 2015, Bank Nizwa collaborated with MasterCard to launch a range of Sharia-compliant credit cards. Similarly, in November 2014, Al Hilal Islamic Banking Services launched a Sharia-compliant Visa credit card which is available in Signature and Platinum variants. Cardholders are offered various value-added benefits such as unlimited access to more than 500 airport lounges around the world, a 24-hour concierge service, up to 25% discount at restaurants and free medical referrals.

The central bank issued a circular in November 2015, allowing non-banking financial companies (NBFCs) to issue white-labeled credit cards in collaboration with domestic banks. NBFCs can brand white labeled cards as their own cards, without investing in the necessary infrastructure. While banks are responsible for administration and settlement processes, NBFCs are responsible for branding and marketing of these cards. This move helps serve those consumers who do not have access to formal financial institutions to obtain credit. This move is anticipated to push the growth of the credit card market.

The central bank issued an advisory note in May 2014, requesting Omani residents and businesses to opt for non-cash payments and increase the use of ATMs and Cash Deposit Machines (CDMs) for routine transactions such as cash withdrawals, deposits and salary payments. This move was aimed at increasing the efficiency of the payment system by urging customers to use the existing banking infrastructure for electronic transactions. The shift towards non-cash transactions is anticipated to raise the use of debit cards.
Table of Contents
1 DEFINITIONS AND METHODOLOGY
1.1 Definitions
1.2 Methodology
2 KEY FACTS AND HIGHLIGHTS
3 EXECUTIVE SUMMARY
4 PAYMENT INSTRUMENTS
5 E-COMMERCE AND ALTERNATIVE PAYMENTS
5.1 E-Commerce Market and Payment Methods
5.2 Alternative Payment Solutions
5.2.1 PayPal
5.2.2 CashU
5.2.3 Ooredoo Charge to Mobile
5.2.4 Fortumo
6 REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY
6.1 Regulatory Framework
6.2 Anti-Money Laundering (AML)
6.3 Foreign Direct Investment (FDI) Regulations
7 ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS
8 PAYMENT CARDS
9 DEBIT CARDS
9.1 Debit Cards Market Analysis
9.2 Debit Card Scheme and Issuer Shares
9.3 Debit Cards Comparison
10 PAY LATER CARDS
10.1 Pay Later Cards Market Analysis
10.2 Pay Later Card Scheme and Issuer Shares
10.3 Pay Later Cards Comparison
11 APPENDIX
11.1 Tables
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetrics Services
11.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Oman Key Facts, 2015
Table 4: Regional Benchmarking of Omans Payment Cards, 2015
Table 5: Oman Mode of Entry of Foreign Banks
Table 6: Oman Debit Cards Comparison and Key Features, 2016
Table 7: Oman Gold Credit Cards Comparison and Key Features, 2016
Table 8: Oman Premium Credit Cards Comparison and Key Features, 2016
Table 9: Oman Payment Instrument Transaction Values (OMR Billion), 20112015
Table 10: Oman Payment Instrument Transaction Values (US$ Billion), 20112015
Table 11: Oman Payment Instrument Transaction Volumes (Million), 20112015
Table 12: Oman Number of Payment Cards in Circulation by Type (Million), 20112020
Table 13: Oman Volume of Payment Card Transactions by Type (Million), 20112020
Table 14: Oman Value of Payment Card Transactions by Type (OMR Billion), 20112020
Table 15: Oman Value of Payment Card Transactions by Type (US$ Billion), 20112020
Table 16: Oman Number of Debit Cards in Circulation (Million), 20112020
Table 17: Oman Debit Card Transaction Volumes and Frequency by Channel, 20112020
Table 18: Oman Debit Card Total and Average Transaction Values by Channel, 20112020
Table 19: Oman Debit Card Total and Average Transaction Values by Channel, 20112020
Table 20: Oman Number of Debit Cards in Circulation by Scheme (Million), 20112015
Table 21: Oman Debit Card Transaction Values by Scheme (OMR Billion), 20112015
Table 22: Oman Debit Card Transaction Values by Scheme (US$ Billion), 20112015
Table 23: Oman Debit Card Transaction Values by Issuer (OMR Million), 20112015
Table 24: Oman Debit Card Transaction Values by Issuer (US$ Billion), 20112015
Table 25: Oman Number of Pay Later Cards in Circulation (Thousand), 20112020
Table 26: Oman Pay Later Card Transaction Volumes and Frequency by Channel, 20112020
Table 27: Oman Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 28: Oman Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 29: Oman Number of Pay Later Cards in Circulation by Scheme (Thousand), 20112015
Table 30: Oman Pay Later Card Transaction Values by Scheme (OMR Million), 20112015
Table 31: Oman Pay Later Card Transaction Values by Scheme (US$ Million), 20112015
Table 32: Oman Pay Later Card Transaction Values by Issuer (OMR Million), 20112015
Table 33: Oman Pay Later Card Transaction Values by Issuer (US$ Million), 20112015
Table 34: Oman Personal and Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 35: Oman Personal and Commercial Pay Later Card Transaction Values (OMR Million), 20112020
Table 36: Oman Personal and Commercial Pay Later Card Transaction Values (US$ Million),
Table 37: Oman Number of Commercial Pay Later Cards in Circulation (Thousand), 20112020
Table 38: Oman Commercial Pay Later Card Transaction Volumes (Thousand), 20112020
Table 39: Oman Commercial Pay Later Card Transaction Values (OMR Million), 20112020
Table 40: Oman Commercial Pay Later Card Transaction Values (US$ Million), 20112020

List of Figures
Figure 1: Oman Payment Instrument Shares by Transaction Value (%), 2011 vs. 2015
Figure 2: Oman Payment Instrument Shares by Transaction Volume (%), 2011 vs. 2015
Figure 3: Oman E-Commerce Value,
Figure 4: Oman Population
Figure 5: Oman Economic Indicators
Figure 6: Oman ATMs and POS Terminals
Figure 7: Oman Household Consumption
Figure 8: Oman Growth in Payment Cards Transaction Values and Number of Cards in Circulation by Type, 20112020
Figure 9: Oman Debit Card Penetration and Turnover Per Card
Figure 10: Oman Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 11: Oman Pay Later Cards Penetration and Turnover Per Card
Figure 12: Oman Pay Later Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

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