Market Research Reports, Inc. has announced the addition of “The United Arab Emirates’ Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” research report to their website http://www.marketresearchreports.com
Lewes, DE -- (SBWIRE) -- 07/17/2014 -- 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.
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
- 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.
Spanning over 105 pages,“ The United Arab Emirates’ Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” report covering the Analysis of Market Environment, Key Trends and Drivers, Cards and Payments Industry Share Analysis, Regulatory Framework and Card Fraud Statistics, Emerging Consumer Attitudes and Trends, Analysis of Card Payments and Growth Prospects, Analysis of Credit Card Payments and Growth Prospects, Analysis of Debit Card Payments and Growth Prospects, Analysis of Charge Card Payments and Growth Prospects, Analysis of Prepaid Card Payments and Growth Prospects, Merchant Acquiring, Appendix. The report covered 10 companies - Abu Dhabi Commercial Bank, Dubai Islamic Bank, Emirates National Bank of Dubai, Mashreq Bank, HSBC UAE, Citibank UAE, MasterCard, Visa, American Express, Diners Club
See Table of contents & Purchase this publication at: http://www.marketresearchreports.com/timetric/united-arab-emirates%E2%80%99-cards-and-payments-industry-emerging-opportunities-trends-size
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