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UAE Cards and Payments Market Report- Opportunities and Risks to 2024 | Samsung Pay, Google Pay, Apple Pay

ReportsnReports added UAE Cards and Payments Market Research Report created by Report Consultant, which offers detailed insights, revenue details, and other information regarding the global market, and the various trends, drivers, restraints, opportunities, and market till 2028. UAE Cards and Payments Market Report offers detailed information regarding the leading key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions and mergers, and market footprint. UAE Cards and Payments Market also provides a comparative analysis of the market dynamics pre and post Covid19 outbreak.

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Top Company Profile Analysis in this Report-

Emirates NBD

Dubai Islamic Bank

First Abu Dabhi Bank

ADIB

Emirates Islamic

Rakbank

Visa

Mastercard

American Express

Diners Club

PayPal

Noon Pay

empay

Klip

Samsung Pay

Google Pay

Apple Pay

PayBy

Emirates NBD Pay

Beam Wallet

eWallet

Payit

UAE Cards and Payments Market Report provides detailed analysis of market trends in the Emirati cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2016-20e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modelling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This report provides top-level market analysis, information and insights into the UAE cards and payments industry, including –
– Current and forecast values for each market in the Emirati cards and payments industry, including debit, credit and charge cards.
– Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing the Emirati cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

Scope of this Report-
– To promote the use of electronic payments and eliminate the circulation of cash, in November 2020 the government of Dubai, including Smart Dubai and the Dubai Department of Finance, developed the Dubai Cashless Framework Report, with an objective to enable all transactions in Dubai to be made through cashless platforms across all sectors. As part of this initiative, a ‘Cashless Dubai Working Group’ – comprising departments such as Smart Dubai, Dubai Department of Finance, the Supreme Legislation Committee, Dubai Economy, Dubai Police, Dubai Economic Security Centre, Dubai Chamber and Dubai Tourism and Commerce Marketing – has been set up and assigned the responsibility of launching initiatives across sectors to create the infrastructure for eliminating the use of cash.
– Immediate Payment Instructions (IPI) is an instant payment system launched by the Central Bank of the UAE that enables instant payments between bank accounts. The system was built on the existing UAE Funds Transfer System (UAEFTS) platform and was launched in June 2019. The service only supports transfers between United Arab Emirates dirham-denominated accounts held in the UAE. IPI settles funds in near-real time, with recipient banks required to credit amounts to their customers no more than 60 seconds after a payment is received. It operates 24/7, 365 days a year.
– Payment companies and merchants are increasingly focusing on innovation. In November 2020, the French supermarket chain Carrefour launched a self-checkout service called ‘Scan & Go” in the UAE. It enables customers to use their smartphones to shop for their products, thereby avoiding long queues at the store checkout counter. To use this service, customers need to download the MAF Carrefour app and select the ‘Scan & Go’ option in it. While shopping, customers need to scan the product barcode using the app’s codescanner, review their shopping list and select ‘Pay & Go’ option. Consumers can pay through two ways – either directly from the app using a debit/credit card or Apple Pay or paying in cash to the cashier in the store.

Reasons to Buy this Report-
– Make strategic business decisions, using top-level historic and forecast market data, related to the Emirati cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the Emirati cards and payments industry.
– Assess the competitive dynamics in the Emirati cards and payments industry.
– Gain insights into marketing strategies used for various card types in the UAE.
– Gain insights into key regulations governing the Emirati cards and payments industry.

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Table of Contents
Growth Prospects
Macroeconomic Insights
Survey Insights
Competitor Update
Appendix

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