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

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


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Executive Summary

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 USD 5,333.3 (SAR20,000) to USD 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 USD 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.



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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

Figure 1: Saudi Arabia-Payment Instrument Shares by Transaction Value (%), 2011 vs 2015

Figure 2: Saudi Arabia-Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015

Figure 3: Saudi Arabia-E-Commerce Value (USD Billion), 2011-2020

Figure 4: Saudi Arabia-Total Population and Structure

Figure 5: Saudi Arabia-Economic Indicators

Figure 6: Saudi Arabia-Number of ATMs, POS Terminals and Number of Bank Branches

Figure 7: Saudi Arabia-Real Household Consumption and Outbound Tourist Expenditure

Figure 8: Saudi Arabia-Segmentation by Card Type, 2016

Figure 9: Saudi Arabia-Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2011-2020

Figure 10: Saudi Arabia-Volume and Value of Payment Card Transactions by Type (%), 2011-2020

Figure 11: Saudi Arabia-Debit Card Penetration and Number of Debit Cards in Circulation, 2011-2020

Figure 12: Saudi Arabia-Turnover Per Debit Card and Transaction Values by Channel, 2011-2020

Figure 13: Saudi Arabia-Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

Figure 14: Saudi Arabia-Pay Later Cards Penetration and Number of Pay Later Cards in Circulation, 2011-2020

Figure 15: Saudi Arabia-Turnover Per Pay Later Card and Transaction Values by Channel, 2011-2020

Figure 16: Saudi Arabia-Pay Later Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

Figure 17: Saudi Arabia-Pay Later Commercial vs Personal Cards, Transaction Volumes and Values (%), 2011-2020

Figure 18: Saudi Arabia-Number of Commercial Cards in Circulation, Transaction Value and Volume, 2011-2020

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 (USD 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 (USD 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 (USD 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 (USD 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 (USD 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 (USD 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 (USD 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 (USD 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 (USD 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 (USD Million), 2011-2020

Table 64: Saudi Arabia-Commercial Pay Later Card Transaction Volumes (Million), 2011-2020

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Al Rajhi Bank

The National Commercial Bank

Riyad Bank

Arab National Bank

The Saudi British Bank

Samba Financial Group

Visa

MasterCard

American Express

The cards and payments industry in Saudi ArtabiaFinancial cardsDebit cardsCredit cardsCharge cardsE-commerceAlternative payments

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