GCC Financial Cards & Payments Future Business Opportunities 2024-2030 | Visa, Mastercard, American Express, Citiban

According to recent findings, the GCC Financial Cards Payments Market is projected to grow at a CAGR of around 11.2% during the forecast period, i.e., 2024-30.

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GCC Financial Cards Payments Overview:

Factors such as the expanding e-commerce industry, regulatory changes in Islamic banking, growing international transaction volume, high internet penetration rate, and increasing requirements for credit facilities, among others, have stimulated the number of users of financial cards and payments in the Gulf region. The visionary efforts taken up by the governments of the UAE, Saudi Arabia, Qatar, etc., towards promoting digitalization in various sectors have increased the usage of facilities, such as mobile banking, internet banking, etc. Therefore, the rising utilization of these services has elevated the demand for financial cards and payments in the region.

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GCC Financial Cards Payments Outlook and Future Trends :

Digital Revolution Fintech Improvement – There is a rapid digital transformation, with a strong focus on fintech innovation across the GCC region. This, in turn, is creating a profitable trend for financial card providers to make individuals aware of advanced payment solutions, such as contactless payments, mobile banking services, and digital wallets. Moreover, these advanced technologies are meeting the surfacing demands of individuals businesses. Hence, driven by the inclusion of cutting-edge solutions, the GCC Financial Cards Payments Market is predicted to witness growth in the future years.

Global GCC Financial Cards Payments Segmentation Analysis:

By Type of Card

Credit Card
Debit Card
Charge Card
Prepaid Card

By Type of Payments

B2B
B2C
C2C
C2B
- E-Commerce Shopping
- Payments at POS Terminals
- Others

According to reports, Customer-to-business (C2B) segment witnessed sizeable growth over the historical period.

By Type of Transactions

Domestic
Foreign

By Card Issuing Institution

Banking
Non-Banking

By Country

Saudi Arabia
The UAE
Qatar
Bahrain
Kuwait

According to reports, The UAE is anticipated to acquire the largest market share during the forecast period. It owes principally to the country having numerous shopping complexes, the establishment of luxury brands, and plenty of things to shop for, encouraging the utilization of financial cards payments to make transactions conveniently.

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Some of the Market players in the Global GCC Financial Cards Payments are:

Visa
Mastercard
American Express
Citibank
HSBC
PayPal express checkout
HDFC Bank
Diners Club
Barclays
Hyperpay
Others.

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