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The United Arab Emirates (UAE) Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

Published By :

Timetric

Published Date : Jul 2014

Category :

Banking

No. of Pages : 105 Pages

Synopsis

The report provides top-level market analysis, information and insights on the UAE cards and payments industry, including:

  • Current and forecast values for each category of the UAE cards and payments industry, including debit cards, credit cards, charge cards and prepaid cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing the UAE cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by banks and other institutions in the market
  • Comprehensive analysis of consumer attitudes and buying preferences for cards
  • The competitive landscape of the UAE cards and payments industry

Executive summary

The UAE card payments channel grew both in terms of volume and value during the review period (2009−2013). In terms of the number of cards in circulation, the channel increased from 10.3 million in 2009 to 18.2 million in 2013, at a review-period compound annual growth rate (CAGR) of 15.31%. Over the forecast period (2014−2018), the card payments channel is anticipated to register a CAGR of 8.57%, to reach 28.4 million cards in 2018. 
In terms of transaction value, the card payments channel increased from AED226.5 billion (US$61.7 billion) in 2009 to AED487.6 billion (US$132.8 billion) in 2013, at a review-period CAGR of 21.13%. The card payments channel is anticipated to increase further from AED529.2 billion (US$144.1 billion) in 2014 to AED673.9 billion (US$183.5 billion) in 2018, at a forecast-period CAGR of 6.23%.

The UAE government’s initiative to promote cashless transactions, the growing popularity of payment cards based on traditional Islamic principles, the introduction of contactless technology, and the retail, e-commerce and tourism industries growth all contributed to the expansion of the UAE card payments channel in volume and value terms during the 
review period.

The UAE’s well-developed telecommunications infrastructure allowed it to record one of the highest mobile penetration rates in the Middle East and North Africa (MENA) region in 2013. Banks such as Dubai Islamic Bank (DIB), Emirates NBD, and Abu Dhabi Commercial Bank (ADCB) partnered with merchants and online retailers to provide secure payment facilities, enabling customers to pay via mobile phone or online. Mobile payments (m-payments) grew from AED86.2 million (US$23.5 million) in 2009 to AED1.8 billion (US$477.2 million) in 2013 at a CAGR of 112.35% and are anticipated to reach AED11.1 billion (US$3.0 billion) in 2018, at a forecast-period CAGR of 38.05%.

E-commerce is increasing as a result of improvements in telecommunication infrastructure, payment and security systems, and an increased consumer willingness to shop online. E-commerce registered a review-period CAGR of 32.71%, rising from AED5.6 billion (US$1.5 billion) in 2009 to AED17.5 billion (US$4.8 billion) in 2013.

In line with an increase in number of outbound travelers, outbound travel expenditure 
among the retail and corporate segments increased from AED59.8 billion (US$16.3 billion) in 2009 to AED65.0 billion (US$17.7 billion) in 2013, and is anticipated to increase further over the forecast period to reach AED99.1 billion (US$27.0 billion) in 2018, fuelling the growth of travel cards.

Scope

  • This report provides a comprehensive analysis of the UAE cards and payments industry.
  • It provides current values for the UAE cards and payments industry for 2013, and forecast figures for 2018.
  • It details the different economic, infrastructural and business drivers affecting the UAE cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details the marketing strategies used by various banks and other institutions.
  • It profiles the major banks in the UAE cards and payments industry.

Reasons to buy

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

Key highlights

  • The UAE card payments channel grew both in terms of volume and value during the review period (2009−2013). In terms of the number of cards in circulation, the channel increased from 10.3 million in 2009 to 18.2 million in 2013, at a review-period compound annual growth rate (CAGR) of 15.31%. Over the forecast period (2014−2018), the card payments channel is anticipated to register a CAGR of 8.57%, to reach 28.4 million cards in 2018.
  • In terms of transaction value, the card payments channel increased from AED226.5 billion (US$61.7 billion) in 2009 to AED487.6 billion (US$132.8 billion) in 2013, at a review-period CAGR of 21.13%. The card payments channel is anticipated to increase further from AED529.2 billion (US$144.1 billion) in 2014 to AED673.9 billion (US$183.5 billion) in 2018, at a forecast-period CAGR of 6.23%.
  • The UAE government’s initiative to promote cashless transactions, the growing popularity of payment cards based on traditional Islamic principles, the introduction of contactless technology, and the retail, e-commerce and tourism industries growth all contributed to the expansion of the UAE card payments channel in volume and value terms during the review period.
  • The UAE’s well-developed telecommunications infrastructure allowed it to record one of the highest mobile penetration rates in the Middle East and North Africa (MENA) region in 2013. Banks such as Dubai Islamic Bank (DIB), Emirates NBD, and Abu Dhabi Commercial Bank (ADCB) partnered with merchants and online retailers to provide secure payment facilities, enabling customers to pay via mobile phone or online. Mobile payments (m-payments) grew from AED86.2 million (US$23.5 million) in 2009 to AED1.8 billion (US$477.2 million) in 2013 at a CAGR of 112.35% and are anticipated to reach AED11.1 billion (US$3.0 billion) in 2018, at a forecast-period CAGR of 38.05%.
  • E-commerce is increasing as a result of improvements in telecommunication infrastructure, payment and security systems, and an increased consumer willingness to shop online. E-commerce registered a review-period CAGR of 32.71%, rising from AED5.6 billion (US$1.5 billion) in 2009 to AED17.5 billion (US$4.8 billion) in 2013.
  • In line with an increase in number of outbound travelers, outbound travel expenditure among the retail and corporate segments increased from AED59.8 billion (US$16.3 billion) in 2009 to AED65.0 billion (US$17.7 billion) in 2013, and is anticipated to increase further over the forecast period to reach AED99.1 billion (US$27.0 billion) in 2018, fuelling the growth of travel cards.
Table of Content

1 Executive Summary

2 Analysis of Market Environment, Key Trends and Drivers
2.1 Payment Infrastructure and Emerging Technology
2.1.1 Rising internet penetration
2.1.2 Growing mobile payments
2.1.3 Automated teller machines (ATMs)
2.1.4 Point-of-sale (POS) terminals
2.2 Business Drivers
2.2.1 Growth in retail industry
2.2.2 Growth in e-commerce
2.2.3 E-dirham card for payment of government services
2.3 Economic Drivers
2.3.1 GDP growth
2.3.2 GDP per capita
2.3.3 Inflation

3 Cards and Payments Industry Share Analysis
3.1 Industry Overview
3.1.1 Check payments
3.1.2 Card transactions

4 Regulatory Framework and Card Fraud Statistics
4.1 Regulatory Framework
4.1.1 Overview
4.1.2 Anti-money laundering and terrorism financing (AML/CTF)
4.1.3 Foreign direct investment (FDI) regulations
4.2 Card Fraud Statistics
4.2.1 Card-not-present fraud
4.2.2 Lost or stolen card
4.2.3 Counterfeit card fraud
4.2.4 Card ID theft

5 Emerging Consumer Attitudes and Trends
5.1 Industry Segmentation and Targeting
5.1.1 Retail segment
5.1.2 Corporate segment
5.2 Travel and Tourism Spending
5.2.1 Outbound tourist trips
5.2.2 Outbound tourist spending

6 Analysis of Card Payments and Growth Prospects
6.1 Channel Share Analysis by Card Category
6.2 Size of and Forecast for the Card Payments Channel
6.2.1 Analysis by number of cards in circulation
6.2.2 Analysis by transaction value

7 Analysis of Credit Card Payments and Growth Prospects
7.1 Overall Category Size and Forecast
7.1.1 Analysis by number of cards in circulation
7.1.2 Analysis by transaction value
7.1.3 Analysis by transaction volume
7.2 Transaction Share Analysis by Channel
7.2.1 Analysis by transaction value
7.2.2 Analysis by transaction volume
7.3 Personal Credit Cards Segment Size and Forecast
7.3.1 Analysis by number of cards in circulation
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.4 Commercial Credit Cards Segment Size and Forecast
7.4.1 Analysis by number of cards in circulation
7.4.2 Analysis by transaction value
7.4.3 Analysis by transaction volume
7.5 Competitive Landscape
7.5.1 Scheme share analysis
7.5.2 Issuer share analysis

8 Analysis of Debit Card Payments and Growth Prospects
8.1 Overall Category Size and Forecast
8.1.1 Analysis by number of cards in circulation
8.1.2 Analysis by transaction value
8.1.3 Analysis by transaction volume
8.2 Transaction Share Analysis by Channel
8.2.1 Analysis by transaction value
8.2.2 Analysis by transaction volume
8.3 Competitive Landscape
8.3.1 Scheme share analysis
8.3.2 Issuer share analysis

9 Analysis of Charge Card Payments and Growth Prospects
9.1 Overall Category Size and Forecast
9.1.1 Analysis by number of cards in circulation
9.1.2 Analysis by transaction value
9.1.3 Analysis by transaction volume
9.2 Transaction Share Analysis by Channel
9.2.1 Analysis by transaction value
9.2.2 Analysis by transaction volume
9.3 Personal Charge Cards Segment Size and Forecast
9.3.1 Analysis by number of cards in circulation
9.3.2 Analysis by transaction value
9.3.3 Analysis by transaction volume
9.4 Commercial Charge Cards Segment Size and Forecast
9.4.1 Analysis by number of cards in circulation
9.4.2 Analysis by transaction value
9.4.3 Analysis by transaction volume
9.5 Competitive Landscape
9.5.1 Scheme share analysis

10 Analysis of Prepaid Card Payments and Growth Prospects
10.1 Overall Category Size and Forecast
10.1.1 Analysis by number of cards in circulation
10.1.2 Analysis by transaction value
10.2 Open-Loop Prepaid Cards Segment Size and Forecast
10.2.1 Analysis by number of cards in circulation
10.2.2 Analysis by transaction value
10.3 Closed-Loop Prepaid Cards Segment Size and Forecast
10.3.1 Analysis by number of cards in circulation
10.3.2 Analysis by transaction value

11 Merchant Acquiring

12 Company Profiles of Card Issuers
12.1 Abu Dhabi Commercial Bank
12.1.1 Key financials
12.1.2 Card portfolio
12.1.3 Strategies
12.2 Dubai Islamic Bank (DIB)
12.2.1 Key financials
12.2.2 Card portfolio
12.2.3 Strategies
12.3 Emirates National Bank of Dubai
12.3.1 Key financials
12.3.2 Card portfolio
12.3.3 Strategies
12.4 Mashreq Bank
12.4.1 Key financials
12.4.2 Card portfolio
12.4.3 Strategies
12.5 HSBC UAE
12.5.1 Key financials
12.5.2 Card portfolio
12.5.3 Strategies

13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric’s Services
13.5 Definitions
13.6 Disclaimer

List of Table

Table 1: The UAE Payment Channels (AED Billion), 2009–2013
Table 2: Number of Foreign Banks in the UAE, 2012 and 2013
Table 3: Market Entry Strategies of Foreign Banks
Table 4: The UAE Card Fraud (AED Million), 2009–2013
Table 5: The UAE Cards for High-Income Customers
Table 6: The UAE Travel Cards
Table 7: The UAE Co-branded Cards
Table 8: The UAE Cards for Women
Table 9: The UAE Cards for Online Shoppers
Table 10: The UAE Cards Offered for Corporate Travelers
Table 11: The UAE Card Payments Channel by Card Category (Thousand), 2009–2018
Table 12: The UAE Card Payments Channel Size by Volume of Cards (Million), 2009–2018
Table 13: The UAE Card Payments Channel Size by Transaction Value (AED Billion), 2009–2018
Table 14: The UAE Card Payments Channel Size by Transaction Value (US$ Billion), 2009–2018
Table 15: The UAE Credit Cards Category Size by Volume of Cards (Million), 2009–2018
Table 16: The UAE Credit Cards Category Size by Transaction Value (AED Billion), 2009–2018
Table 17: The UAE Credit Cards Category Size by Transaction Value (US$ Billion), 2009–2018
Table 18: The UAE Credit Cards Category Size by Transaction Volume (Million), 2009–2018
Table 19: The UAE Personal Credit Cards Segment Size by Volume of Cards (Million), 2009–2018
Table 20: The UAE Personal Credit Cards Segment Size by Transaction Value (AED Billion), 2009–2018
Table 21: The UAE Personal Credit Cards Segment Size by Transaction Value (US$ Billion), 2009–2018
Table 22: The UAE Personal Credit Cards Segment Size by Transaction Volume (Million), 2009–2018
Table 23: The UAE Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009–2018
Table 24: The UAE Commercial Credit Cards Segment Size by Transaction Value (AED Million), 2009–2018
Table 25: The UAE Commercial Credit Cards Segment Size by Transaction Value (US$ Million), 2009–2018
Table 26: The UAE Commercial Credit Cards Segment Size by Transaction Volume (Thousand), 2009–2018
Table 27: The UAE Debit Cards Category Size by Volume of Cards (Million), 2009–2018
Table 28: The UAE Debit Cards Category Size by Transaction Value (AED Billion), 2009–2018
Table 29: The UAE Debit Cards Category Size by Transaction Value (US$ Billion), 2009–2018
Table 30: The UAE Debit Cards Category Size by Transaction Volume (Million), 2009–2018
Table 31: The UAE Charge Cards Category Size by Volume of Cards (Thousand), 2009–2018
Table 32: The UAE Charge Cards Category Size by Transaction Value (AED Million), 2009–2018
Table 33: The UAE Charge Cards Category Size by Transaction Value (US$ Million), 2009–2018
Table 34: The UAE Charge Cards Category Size by Transaction Volume (Million), 2009–2018
Table 35: The UAE Personal Charge Cards Segment Size by Volume of Cards (Thousand), 2009–2018
Table 36: The UAE Personal Charge Cards Segment Size by Transaction Value (AED Billion), 2009–2018
Table 37: The UAE Personal Charge Cards Segment Size by Transaction Value (US$ Million), 2009–2018
Table 38: The UAE Personal Charge Cards Segment Size by Transaction Volume (Million), 2009–2018
Table 39: The UAE Commercial Charge Cards Segment Size by Volume of Cards (Thousand), 2009–2018
Table 40: The UAE Commercial Charge Cards Segment Size by Transaction Value (AED Million), 2009–2018
Table 41: The UAE Commercial Charge Cards Segment Size by Transaction Value (US$ Million), 2009–2018
Table 42: The UAE Commercial Charge Cards Segment Size by Transaction Volume (Thousand), 2009–2018
Table 43: The UAE Prepaid Cards Category Size by Volume of Cards (Million), 2009–2018
Table 44: The UAE Prepaid Cards Category Size by Transaction Value (AED Billion), 2009–2018
Table 45: The UAE Prepaid Cards Category Size by Transaction Value (US$ Billion), 2009–2018
Table 46: The UAE Open-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2009–2018
Table 47: The UAE Open-Loop Prepaid Cards Segment Size by Transaction Value (AED Billion), 2009–2018
Table 48: The UAE Open-Loop Prepaid Cards Segment Size by Transaction Value (US$ Billion), 2009–2018
Table 49: The UAE Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009–2018
Table 50: The UAE Closed-Loop Prepaid Cards Segment Size by Transaction Value (AED Billion), 2009–2018
Table 51: The UAE Closed-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009–2018
Table 52: ADCB – Key Financial Indicators (AED Million), Year Ending December, 2012–2013
Table 53: ADCB – Card Portfolio and Key Features
Table 54: DIB – Key Financial Indicators (AED Million), Year Ending December, 2012–2013
Table 55: DIB – Card Portfolio and Key Features
Table 56: Emirates NBD – Key Financial Indicators (AED Million), Year Ending December, 2012–2013
Table 57: Emirates NBD – Card Portfolio and Key Features
Table 58: Mashreq Bank – Key Financial Indicators (AED Million), Year Ending December, 2012–2013
Table 59: Mashreq Bank – Card Portfolio and Key Features
Table 60: HSBC UAE – Key Financial Indicators (US$ Million), Year Ending December, 2012–2013
Table 61: HSBC UAE – Card Portfolio and Key Features
Table 62: Key Definitions

List of Chart

Figure 1: Benchmarking the UAE Card Payments Channel Against Other Regional Markets
Figure 2: Growth of Various Card Categories in the UAE (%), 2009–2018
Figure 3: The UAE Internet Penetration, 2009–2018
Figure 4: The UAE Value of M-Payments (AED Million), 2009–2018
Figure 5: The UAE ATM Volume and Penetration, 2009–2018
Figure 6: The UAE POS Volume and Penetration, 2009–2018
Figure 7: The UAE Value of Retail Sales (AED Billion), 2009–2018
Figure 8: The UAE E-Commerce Value (AED Billion), 2009–2013
Figure 9: The UAE Real GDP Growth (%), 2009–2018
Figure 10: The UAE Nominal GDP Per Capita (US$), 2009–2018
Figure 11: The UAE Consumer Price Inflation Rate (%), 2009–2018
Figure 12: The UAE Shares of Different Payment Channels (%), 2009 and 2013
Figure 13: Shares of Card Fraud in the UAE (%), 2009 and 2013
Figure 14: The UAE Card-Not-Present Fraud Value (AED Million), 2009–2013
Figure 15: The UAE Lost or Stolen Card Fraud Value (AED Million), 2009–2013
Figure 16: The UAE Counterfeit Card Fraud Value (AED Million), 2009–2013
Figure 17: The UAE Card ID Theft Value (AED Million), 2009–2013
Figure 18: The UAE Cards and Payments Industry Segmentation by Card Type
Figure 19: The UAE Volume of Outbound Business Tourist Trips (Thousand), 2009–2018
Figure 20: The UAE Volume of Outbound Tourist Trips (Thousand), 2009–2018
Figure 21: The UAE Outbound Tourist Spending (AED Billion), 2009–2018
Figure 22: The UAE Card Payments Channel by Card Category (%), 2009–2018
Figure 23: The UAE Card Payments Channel Size by Volume of Cards (Million), 2009–2018
Figure 24: The UAE Card Payments Channel Size by Transaction Value (AED Billion), 2009–2018
Figure 25: The UAE Credit Cards Category Volume and Penetration, 2009–2018
Figure 26: The UAE Credit Cards Category Size by Volume of Cards (Million), 2009–2018
Figure 27: The UAE Credit Cards Category Size by Transaction Value (AED Billion), 2009–2018
Figure 28: The UAE Credit Cards Category Size by Transaction Volume (Million), 2009–2018
Figure 29: The UAE Credit Cards Category Transaction Value Share Analysis by Channel (AED Billion), 2009–2018
Figure 30: The UAE Credit Cards Category Transaction Volume Share Analysis by Channel (Million), 2009–2018
Figure 31: The UAE Personal Credit Cards Segment Size by Volume of Cards (Million), 2009–2018
Figure 32: The UAE Personal Credit Cards Segment Size by Transaction Value (AED Billion), 2009–2018
Figure 33: The UAE Personal Credit Cards Segment Size by Transaction Volume (Million), 2009–2018
Figure 34: The UAE Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009–2018
Figure 35: The UAE Commercial Credit Cards Segment Size by Transaction Value (AED Million), 2009–2018
Figure 36: The UAE Commercial Credit Cards Segment Size by Transaction Volume (Thousand), 2009–2018
Figure 37: The UAE Credit Cards Category Share by Scheme (%), 2013
Figure 38: The UAE Credit Cards Category Share by Issuer (%), 2013
Figure 39: The UAE Debit Cards Category Volume and Penetration, 2009–2018
Figure 40: The UAE Debit Cards Category Size by Volume of Cards (Million), 2009–2018
Figure 41: The UAE Debit Cards Category Size by Transaction Value (AED Billion), 2009–2018
Figure 42: The UAE Debit Cards Category Size by Transaction Volume (Million), 2009–2018
Figure 43: The UAE Debit Cards Category Transaction Value Share Analysis by Channel (AED Billion), 2009–2018
Figure 44: The UAE Debit Cards Category Transaction Volume Share Analysis by Channel (Million), 2009–2018
Figure 45: The UAE Debit Cards Category Share by Scheme (%), 2013
Figure 46: The UAE Debit Cards Category Share by Issuer (%), 2013
Figure 47: The UAE Charge Cards Category Volume and Penetration, 2009–2018
Figure 48: The UAE Charge Cards Category Size by Volume of Cards (Thousand), 2009–2018
Figure 49: The UAE Charge Cards Category Size by Transaction Value (AED Million), 2009–2018
Figure 50: The UAE Charge Cards Category Size by Transaction Volume (Million), 2009–2018
Figure 51: The UAE Charge Cards Category Transaction Value Share Analysis by Channel (AED Million), 2009–2018
Figure 52: The UAE Charge Cards Category Transaction Volume Share Analysis by Channel (Thousand), 2009–2018
Figure 53: The UAE Personal Charge Cards Segment Size by Volume of Cards (Thousand), 2009–2018
Figure 54: The UAE Personal Charge Cards Segment Size by Transaction Value (AED Billion), 2009–2018
Figure 55: The UAE Personal Charge Cards Segment Size by Transaction Volume (Million), 2009–2018
Figure 56: The UAE Commercial Charge Cards Segment Size by Volume of Cards (Thousand), 2009–2018
Figure 57: The UAE Commercial Charge Cards Segment Size by Transaction Value (AED Million), 2009–2018
Figure 58: The UAE Commercial Charge Cards Segment Size by Transaction Volume (Thousand), 2009–2018
Figure 59: The UAE Charge Cards Category Share by Scheme (%), 2013
Figure 60: The UAE Prepaid Cards Category Volume and Penetration, 2009–2018
Figure 61: The UAE Prepaid Cards Category Size by Volume of Cards (Million), 2009–2018
Figure 62: The UAE Prepaid Cards Category Size by Transaction Value (AED Billion), 2009–2018
Figure 63: The UAE Open-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2009–2018
Figure 64: The UAE Open-Loop Prepaid Cards Segment Size by Transaction Value (AED Billion), 2009–2018
Figure 65: The UAE Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009–2018
Figure 66: The UAE Closed-Loop Prepaid Cards Segment Size by Transaction Value (AED Billion), 2009–2018

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