Developing Trends In The Saudi Arabia Cards And Payment Market Outlook: Ken Research


The Saudi Arabia Cards and Payments Market has effectively observed the steady growth due to the increasing transaction volume, number of transaction and cards in the circulation. The transaction of the debit card volume increased at a rate quicker than the credit cards, even though both the modelled single digit growth rate. In addition, the number of the debit cards in the movement is much more than the credit cards in the circulation. Not only has this, the Saudi Arabia Cards and Payments Industry witnessed to be at the growth stage as the more regions across the Saudi Arabia are establishing the open banking system initiatives where the banking systems are being start to the third party service merchants. As more organizations are set to inflow the market, margins, are predicted to decrease which is fueling the consolidation along the value chain and from the several other markets. The movement to the real time payment processing is fostering modern payment service merchants to establish the value added services in addition to the payment.


The Saudi Arabia Credit Cards Market have been sectored based on the consumer entities such as personal credit cards and commercial credit cards. The number of personal credit cards in the circulation observed an effective growth during the forecasted period more positively. It is anticipated that the personal credit card market by transaction volume increased at a five year CAGR during the reviewed period. According to the research, it is anticipated that in the market of cards and payments in the Saudi Arabia there are so many active players which recently functioning more significantly for leading the highest market growth and dominating the high value of market share during the short span of time while increasing the offers on the usage of credit cards, establishing an e-commerce platform for the payments, and studying the strategies and policies of the government which further benefitted for ruling the business more smoothly includes National Commercial Bank, Saudi Arabia British Bank, SAMBA Financial Service, Riyad Bank, Al Rajhi Bank, Arab National Bank and several others.

Although, the foremost parameters based on the which the financial institutions participate with each other involve the technological advancement in financial technology, physical card fluctuations, reward point program, trustworthiness program, merchant discounts, annual preservation charge, interest rates and several others. However, the competition within the Saudi Arabia Cards and Payments Market has been abstemiously concentrated, with nearby 13 banks functioning under the credit cards and debit cards market. Foremost operators in the space are MasterCard, Visa and American Express. The market competition is on the basis of transaction volume and quantity of credit / debit cards in movement.

Nonetheless, the potential players in the Saudi Arabia Payments Industry are effectively studying the competitor’s strategy for expanding the premises and implementing the strategies of the joint ventures, mergers and acquisitions and partnerships which further benefitted for enlarging the business premises and generating the high amount of revenue.

The effective rise in the demand for Islamic cards due to its shariah acquiescence and entrance of E-commerce giants for instance, Souq, Cobone, Haraj and AliExpress are cooperatively predicted to foster the payment cards market in Saudi Arabia. Therefore, in the coming years, it is anticipated that the market of cards and payments in Saudi Arabia will increase more positively over the near future.

For more information, refer to below link:

Saudi Arabia Cards and Payments Market

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