Saudi Arabia Cards and Payments Market Growth and Its Opportunity for Industry Stakeholders

Sep 25, 2024 - 14:59

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Saudi Arabia Cards and Payments Market Growth and Its Opportunity for Industry Stakeholders

This comprehensive Saudi Arabia Cards and Payments Market report by “MarkNtel Advisors: Leading Market research Company” offers valuable insights into the current and future market landscape, providing clarity on potential challenges and strategies for optimal brand positioning. It features detailed market segmentation, in-depth analysis of key market players, emerging trends in consumer behavior and supply chain dynamics, and opportunities in new geographical markets. With the insights from this report, you can manage your marketing strategies for goods and services more effectively.

According to recent market analysis report, the Saudi Arabia Cards and Payments Market size is expected to grow at a CAGR of 8.5% during the forecast period of 2024 to 2030.

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Saudi Arabia Cards and Payments Market Trend

Integration of Smart Touchless Technologies Gaining Traction – Owing to the rising technological advancements, financial service providers & financial institutions comprising commercial banks & other investment banks are integrating new touchless technologies in credit cards, debit cards, fleet cards, etc., to improve the user experience. These touchless technologies enable consumers to complete touch-free transactions with systems, thereby meeting health & safety requirements.

To make the end-user experience seamless, companies like Visa & Master card are launching products such as tap-to-go cards designed using these touchless technologies, making payment simple & preferable by consumers. Also, the significant adoption of the new innovative tech in the financial sector as well as by the consumers is gaining traction, further augmenting the Saudi Arabia Cards and Payments Market expansion in the coming years.

Market Segment Highlights:

By Type of Cards

Debit Cards
Fleet/Fuel Cards
ATM Cards
Prepaid Cards
Credit Cards

The Debit Cards segment held the largest share of the Saudi Arabia Cards and Payments Market in the historical years and is predicted to flourish during 2024-30, owing to the increasingly rising bankable population in the country. End-users now prefer cards for payments due to the additional benefits they provide, like reward points, cashback offers, etc., and enhanced security.

By Type of Payment Instrument

Cards
Mobile Wallets
Credit Transfers
Cash
Debit Cards
Checks

By Type of Payments

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

By Transaction Type

Domestic
Foreign

By Application

Food & Groceries
Health & Pharmacies
Travel & Tourism
Hospitality
Others (Media & Entertainment, etc.)

By Institution Type

Financial
Non-Financial

By Region

Central
East
West
South

Explore the Full Report with Charts, Table of Contents, and List of Figures - https://www.marknteladvisors.com/research-library/saudi-arabia-cards-payments-market.html

Saudi Arabia Cards and Payments Market Competition Analysis:

Some of the top Cards and Payments companies operating in the Saudi Arabia market are Saudi National Bank SNB, The Al Rajhi Bank, Alawwal Bank, Banque Saudi Fransi, Riyad Bank, Arab National Bank, Bank Al Jazira, Bank Al Bilad, Saudi Investment Bank, Alinma Bank, and others.

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Insights offered by MarkNtel Advisors comprise in-depth information on regional & country-based trends emerging in the industry. The team studies & compiles the prospects, ensuring consistency in reports.

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