Fast Market Research

New Market Research Report: Saudi Arabia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

New Financial Services market report from Timetric: "Saudi Arabia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape"

 

Boston, MA -- (ReleaseWire) -- 06/18/2014 -- The Saudi Arabian economy was largely resilient to the global financial crisis, mainly due to a sound banking and financial system. The system was well capitalized with domestic banks maintaining a capital adequacy ratio of 17.9% at the end of 2013, as a result of which credit was easily available to corporate sectors. Consequently, business activity was vibrant and confidence was high, which reflected positively on employment levels, income and the overall card payments channel.
The Saudi Arabian card payments channel grew at a healthy pace, 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 17.2 million cards in 2009 to 26.8 million in 2013, at a review-period compound annual growth rate (CAGR) of 11.75%. Over the forecast period (2014-2018), the card payments channel is anticipated to register a CAGR of 8.66%, to reach 42.2 million cards in 2018.
In terms of transaction value, the card payments channel increased from SAR489.2 billion (US$130.5 billion) in 2009 to SAR863.9 billion (US$230.4 billion) in 2013, at a review-period CAGR of 15.28%. The card payments channel is anticipated to increase further from SAR936.7 billion (US$249.8 billion) in 2014 to SAR1.2 trillion (US$308.7 billion) in 2018, representative of a forecast-period CAGR of 5.44%.
While the debit cards category occupied the largest channel share of 57.7% in 2013, in terms of the number of cards in circulation, the prepaid and credit card categories are eroding the share of the debit cards category, which is anticipated to decrease to 52.3% in 2018. With government efforts to attract the non-banked population into the country's banking system, domestic and foreign banks are issuing prepaid cards in large numbers. In 2013, the number of prepaid cards in circulation was 8.3 million, and is anticipated to reach 16.4 million by 2018.
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 35.71%, rising from SAR1.8 billion (US$468.1 million) in 2009 to SAR6.0 billion (US$1.6 billion) in 2013.

View Full Report Details and Table of Contents

Report Highlights

- The Saudi Arabian card payments channel grew at a healthy pace, 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 17.2 million cards in 2009 to 26.8 million in 2013, at a review-period compound annual growth rate (CAGR) of 11.75%. Over the forecast period (2014-2018), the card payments channel is anticipated to register a CAGR of 8.66%, to reach 42.2 million cards in 2018.

Companies Mentioned in this Report: Al Rajhi Bank, The Saudi British Bank, Samba Financial Group, Riyad Bank, The National Commercial Bank, Arab National Bank, MasterCard, Visa, American Express, Diners Club

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Financial Services research reports at Fast Market Research

You may also be interested in these related reports:

- Argentina's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Emerging Opportunities in Austria's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
- Poland's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- The Czech Republic's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Spain's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Germany's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Hungary's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- China's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- India's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Canada's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape