Saudi Arabia Financial Cards and Payments Analysis Report 2024: Significant Increase in Transactions as the Government Advocates for Digital Payment Solutions – Forecast Through 2029
The report meticulously examines the market landscape for various types of financial cards, encompassing ATM cards, smart cards, credit cards, debit cards, charge cards, prepaid cards, and store cards. It delves deep into the key market players, including both issuers and operators, while presenting valuable insights into the total number of cards in circulation, transaction counts, and the value of these transactions. Additionally, this study offers a strategic analysis highlighting sector forecasts and emerging trends shaping the financial card market.
A pivotal driver behind the expanding use of card payments is the Saudi government's aggressive push toward a cashless economy. This initiative actively encourages consumers to transition from traditional cash transactions to electronic payment methods. Historically, cash has been the dominant form of payment in Saudi Arabia; however, its popularity is waning as many consumers embrace financial cards for their everyday transactions.
Data coverage: Examination of market sizes (both historical and forecasted), company shares, brand distribution, and detailed distribution statistics.
Reasons to Purchase This Report:
- Gain an in-depth understanding of the Financial Cards and Payments market, including its current state and future prospects.
- Identify growth sectors and key factors driving innovation and transformation within the market.
- Understand the competitive landscape and familiarize yourself with the influential players and leading brands in the industry.
- Utilize five-year forecasts to better assess anticipated market developments and strategic opportunities.
Key Topics Covered:
- An overview of financial cards and payments in 2024
- Key trends shaping the industry in 2024
- Overview of the competitive landscape
- The future outlook for financial cards and payments
MARKET INDICATORS
- Growth in the number of POS terminals: 2019-2024
- Trends in ATM availability: 2019-2024
- Financial losses attributed to fraud: 2019-2024
- Card expenditure patterns by location in 2024
- Composition of financial cards in circulation by type: 2019-2024
- Breakdown of domestic versus foreign spending in 2024
MARKET DATA
- Detailed analysis of financial cards by category, including the number of cards in circulation from 2019 to 2024
- Insights on financial card accounts and transaction values by category over the same period
- Consumer payments are categorized by value and transaction counts, illustrating trends from 2019 to 2024
- M-commerce statistics highlighting value and growth rates from 2019 to 2024
- Forecast data projecting the growth of financial cards from 2024 to 2029 across various categories
DEBIT CARDS IN SAUDI ARABIA
KEY DATA FINDINGS: An overview of market dynamics for debit cards
2024 DEVELOPMENTS: Discussion on the continued dominance of debit cards amidst rising living costs and the impact of the Saudization initiative along with increased female employment
PROSPECTS AND OPPORTUNITIES: How economic optimism and strategic alliances will bolster the demand for debit cards
CATEGORY DATA
- Analysis of debit cards in circulation from 2019 to 2024
- Trends in debit card transactions and growth rates
- Detailed statistical breakdown of debit cards by issuer and operator
CREDIT CARDS IN SAUDI ARABIA
KEY DATA FINDINGS: Insights into the escalating adoption of credit cards due to diverse offerings and advanced payment solutions
2024 DEVELOPMENTS: Examination of banks’ lucrative offers that enhance consumer appeal for credit cards
PROSPECTS AND OPPORTUNITIES: An exploration of the potential threat posed by Buy Now Pay Later (BNPL) solutions and how innovative partnerships are fostering seamless digital payment experiences
This detailed report not only charts the current landscape but also forecasts significant shifts in the financial payments sector in Saudi Arabia, driven by a transformation towards digital solutions.
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