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The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2019

The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2019


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Executive Summary

Timetrics The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2019 report provides detailed analysis of market trends in Saudi Arabia cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (2010-2014).

The report also analyzes various payment cards market 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 (2015-2019). It also offers information on the countrys competitive landscape, including 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 detailed regulatory policies, recent changes in regulatory structure and profiles of card issuers operating in the country.

Summary

Timetrics The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2019 report provides top-level market analysis, information and insights into Saudi Arabia cards and payments industry, including:

Current and forecast values for each market in Saudi Arabia cards and payments industry, including debit card, credit and charge cards. It also includes detailed analysis of the prepaid card market.

Detailed insights into payment instruments including credit transfers, cash transactions, checks, direct debits and payment cards. It also, includes an overview of the countrys key alternative payment instruments.

E-commerce market analysis and online payment types.

Analysis of various market drivers and regulations governing Saudi Arabia cards and payments industry.

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

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape of Saudi Arabia cards and payments industry.

Scope

This report provides a comprehensive analysis of Saudi Arabia cards and payments industry.

It provides current values for Saudi Arabia cards and payments industry for 2014, and forecast figures to 2019.

It details the different demographic, economic, infrastructural and business drivers affecting Saudi Arabia cards and payments industry.

It outlines the current regulatory framework in the industry.

It details marketing strategies used by various banks and other institutions.

It profiles major banks in Saudi Arabia cards and payments industry.

Reasons To Buy

Make strategic business decisions, using top-level historic and forecast market data, related to Saudi Arabia cards and payments industry and each market within it.

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

Assess the competitive dynamics in Saudi Arabia cards and payments industry.

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

Gain insights into key regulations governing Saudi Arabia cards and payments industry.

Key Highlights

To encourage the use of electronic payments, the Saudi Arabian Monetary Agency (SAMA) undertook a number of initiatives, including the establishment of its new electronic payment systemmada, and mandatory wage payment into bank accounts. It launched its modified Saudi Payment Network (SPAN) asmada in September 2015. SPAN links all the ATMs and point-of-sale (POS) terminals to a central payment switch across the country. The regulator expects that the new system will increase the use of POS terminals. To encourage the use of the POS terminals, the daily purchase limit was increased from USD5,333.3 (SAR20,000) to USD16,000 (SAR60,000).

SAMA, in collaboration with the Ministry of Labor, launched the Wage Protection System (WPS) in June 2013. Under the law, employees salaries were paid directly into bank accounts, from which they can withdraw with debit cards. WPS was implemented in phases depending on the number of employees an organization had. Initially, it was mandatory for companies with an employee base of more than 3,000, which was further reduced in phases to companies with 100 or more employees from November 2015.

Technology adoption in the cards and payments industry achieved a new level in Saudi Arabia, when Riyad Bank issued the countrys first contactless debit card- Riyad Bank Debit MasterCard- in May 2015. The card provides enhanced security and convenience, and is accepted across 35 million merchants globally. The card can be used for small value transactions of less than USD20 (SAR75) without the need to enter a PIN. With payment cards gaining in popularity among consumers, the introduction of contactless cards is likely to encourage card based payments even for low value transactions.

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 Boku

6.1.2 Bango

6.1.3 T-Pay

6.1.4 M-Pesa

6.1.5 PayPal

6.1.6 Payfort

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 Card Analysis

10.1.1 Volume and value of payment card transactions by type

10.1.2 Personal vs commercial cards

11 Debit Cards

11.1 Debit Card Market Analysis

11.1.1 Debit card transaction volumes and values by channel

11.1.2 Debit card scheme and issuer shares in terms of transaction value

11.1.3 Debit cards comparison

12 Credit Cards

12.1 Credit Card Market Analysis

12.1.1 Credit card transaction volumes and values by channel

12.1.2 Credit card scheme and issuer shares in terms of transaction value

12.1.3 Credit cards comparison

13 Charge Cards

13.1 Charge Card Market Analysis

13.1.1 Charge card transaction volumes and values by channel

13.1.2 Charge card scheme shares in terms of transaction value

13.1.3 Charge cards comparison

14 Commercial Cards

14.1 Commercial Card Market Analysis

14.1.1 Commercial cards comparison

15 Card Issuers

15.1 Al Rajhi Bank

15.2 The National Commercial Bank

15.3 Riyad Bank

15.4 Arab National Bank

15.5 The Saudi British Bank

16 Prepaid Cards

16.1 Prepaid Card Market Analysis

16.1.1 Prepaid cards comparison

17 Appendix

17.1 Tables

17.2 Contact Timetric

17.3 About Timetric

17.4 Timetrics Services

17.5 Disclaimer

Figure 1: Saudi Arabia- Payment Instrument Shares by Transaction Value (%), 2010 and 2014

Figure 2: Saudi Arabia- Payment Instrument Shares by Transaction Volume (%), 2010 and 2014

Figure 3: Saudi Arabia- E-Commerce Value (USD Million), 2010-2019

Figure 4: Saudi Arabia- Total Population and Structure, 2010-2019

Figure 5: Saudi Arabia- Economic Indicators, 2010-2019

Figure 6: Saudi Arabia- Number of ATMs, POS Terminals and Bank Branches, 2010-2019

Figure 7: Saudi Arabia- Retail Sales and Real Household Final Consumption Expenditure, 2010-2014

Figure 8: Saudi Arabia- Segmentation by Card Type, 2015

Figure 9: Saudi Arabia- Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2010-2019

Figure 10: Saudi Arabia- Volume and Value of Payment Card Transactions by Type (%), 2010-2019

Figure 11: Saudi Arabia- Personal and Commercial Card, Transaction Volumes and Values (%), 2010-2019

Figure 12: Saudi Arabia- Growth in Debit Card Transaction Values and Number of Debit Cards in Circulation, 2010-2019

Figure 13: Saudi Arabia- Debit Card Transaction Volumes and Values by Channel, 2010-2019

Figure 14: Saudi Arabia- Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 15: Saudi Arabia- Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010-2019

Figure 16: Saudi Arabia- Credit Card Transaction Volumes and Values by Channel, 2010-2019

Figure 17: Saudi Arabia- Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 18: Saudi Arabia- Growth in Charge Card Transaction Values and Number of Charge Cards in Circulation, 2010-2019

Figure 19: Saudi Arabia- Charge Card Transaction Volumes and Values by Channel, 2010-2019

Figure 20: Saudi Arabia- Charge Card Scheme Shares in Terms of Transaction Value (%), 2014

Figure 21: Saudi Arabia- Number of Commercial Cards in Circulation and Transaction Value, 2010-2019

Figure 22: Saudi Arabia- Number of Prepaid Cards in Circulation and Transaction Value, 2010-2019

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Saudi Arabia- Key Facts, 2014

Table 4: Regional Benchmarking of Saudi Arabias Payment Cards, 2014

Table 5: Saudi Arabia- Mode of Entry of Foreign Banks

Table 6: Cards for High-Income Consumers, 2015

Table 7: Co-branded Cards by Bank, 2015

Table 8: Cards for Travelers, 2015

Table 9: Cards for Shoppers, 2015

Table 10: Cards for Online Shoppers, 2015

Table 11: Cards for Unbanked Population, 2015

Table 12: Cards for Women, 2015

Table 13: Specialized Cards for Business Managers and Entrepreneurs, 2015

Table 14: Specialized Cards for SMEs, 2015

Table 15: Saudi Arabia- New Product Launches

Table 16: Saudi Arabia- Debit Cards Comparison and Key Features, 2015

Table 17: Saudi Arabia- Gold Credit Cards Comparison and Key Features, 2015

Table 18: Saudi Arabia- Premium Credit Cards Comparison and Key Features, 2015

Table 19: Saudi Arabia- Charge Cards Comparison and Key Features, 2015

Table 20: Saudi Arabia- Commercial Cards Comparison and Key Features, 2015

Table 21: Saudi Arabia- Prepaid Cards Comparison and Key Features, 2015

Table 22: Saudi Arabia- Payment Instrument Transaction Values (SAR Billion), 2010-2014

Table 23: Saudi Arabia- Payment Instrument Transaction Values (USD Billion), 2010-2014

Table 24: Saudi Arabia- Payment Instrument Transaction Volumes (Million), 2010-2014

Table 25: Saudi Arabia- Number of Payment Cards in Circulation by Type (Million), 2010-2019

Table 26: Saudi Arabia- Volume of Payment Card Transactions by Type (Million), 2010-2019

Table 27: Saudi Arabia- Value of Payment Card Transactions by Type (SAR Billion), 2010-2019

Table 28: Saudi Arabia- Value of Payment Card Transactions by Type (USD Billion), 2010-2019

Table 29: Saudi Arabia- Personal and Commercial Card Transaction Volumes (Million), 2010-2019

Table 30: Saudi Arabia- Personal and Commercial Card Transaction Values (SAR Billion), 2010-2019

Table 31: Saudi Arabia- Personal and Commercial Card Transaction Values (USD Billion), 2010-2019

Table 32: Saudi Arabia- Number of Debit Cards in Circulation (Million), 2010-2019

Table 33: Saudi Arabia- Debit Card Transaction Volumes and Frequency by Channel, 2010-2019

Table 34: Saudi Arabia- Debit Card Total and Average Transaction Values by Channel, 2010-2019

Table 35: Saudi Arabia- Debit Card Total and Average Transaction Values by Channel, 2010-2019

Table 36: Saudi Arabia- Number of Debit Cards in Circulation by Scheme (Million), 2010-2014

Table 37: Saudi Arabia- Debit Card Transaction Values by Scheme (SAR Billion), 2010-2014

Table 38: Saudi Arabia- Debit Card Transaction Values by Scheme (USD Billion), 2010-2014

Table 39: Saudi Arabia- Debit Card Transaction Values by Issuer (SAR Billion), 2010-2014

Table 40: Saudi Arabia- Debit Card Transaction Values by Issuer (USD Billion), 2010-2014

Table 41: Saudi Arabia- Number of Credit Cards in Circulation (Million), 2010-2019

Table 42: Saudi Arabia- Credit Card Transaction Volumes and Frequency by Channel, 2010-2019

Table 43: Saudi Arabia- Credit Card Total and Average Transaction Values by Channel, 2010-2019

Table 44: Saudi Arabia- Credit Card Total and Average Transaction Values by Channel, 2010-2019

Table 45: Saudi Arabia- Number of Credit Cards in Circulation by Scheme (Thousand), 2010-2014

Table 46: Saudi Arabia- Credit Card Transaction Values by Scheme (SAR Billion), 2010-2014

Table 47: Saudi Arabia- Credit Card Transaction Values by Scheme (USD Billion), 2010-2014

Table 48: Saudi Arabia- Pay Later Card Transaction Values by Issuer (SAR Billion), 2010-2014

Table 49: Saudi Arabia- Pay Later Card Transaction Values by Issuer (USD Billion), 2010-2014

Table 50: Saudi Arabia- Credit Card Balances Outstanding by Issuer (SAR Billion), 2010-2014

Table 51: Saudi Arabia- Credit Card Balances Outstanding by Issuer (USD Billion), 2010-2014

Table 52: Saudi Arabia- Number of Charge Cards in Circulation (Thousand), 2010-2019

Table 53: Saudi Arabia- Charge Card Transaction Volumes and Frequency by Channel, 2010-2019

Table 54: Saudi Arabia- Charge Card Total and Average Transaction Values by Channel, 2010-2019

Table 55: Saudi Arabia- Charge Card Total and Average Transaction Values by Channel, 2010-2019

Table 56: Saudi Arabia- Number of Charge Cards in Circulation by Scheme (Thousand), 2010-2014

Table 57: Saudi Arabia- Charge Card Transaction Values by Scheme (SAR Billion), 2010-2014

Table 58: Saudi Arabia- Charge Card Transaction Values by Scheme (USD Million), 2010-2014

Table 59: Saudi Arabia- Number of Commercial Cards in Circulation (Thousand), 2010-2019

Table 60: Saudi Arabia- Commercial Card Transaction Values (SAR Billion), 2010-2019

Table 61: Saudi Arabia- Commercial Card Transaction Values (USD Million), 2010-2019

Table 62: Saudi Arabia- Number of Prepaid Cards in Circulation (Million), 2010-2019

Table 63: Saudi Arabia- Prepaid Cards Transaction Value (SAR Billion), 2010-2019

Table 64: Saudi Arabia- Prepaid Cards Transaction Value (USD Million), 2010-2019

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Al Rajhi Bank

The National Commercial Bank

Arab National Bank

Riyad Bank

The Saudi British Bank

Samba Financial Group

American Express

Visa

MasterCard

Diners Club

The Cards And Payments Industry In Saudi Arabia, Financial Cards, Debit Cards, Credit Cards, Charge Cards, Prepaid Cards, Emv Cards, E-commerce, Alternative Payments


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