The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2020 is a new market research publication announced by Reportstack. This report provides top-level market analysis, information and insights into the Saudi Arabian cards and payments industry, including:Current and forecast values for each market in the Saudi Arabian cards and payments industry, including debit and pay later cards.Detailed insights into payment instruments including credit transfers, direct debits, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.E-commerce market analysis and payment types.Analysis of various market drivers and regulations governing the Saudi Arabian cards and payments industry.Detailed analysis of strategies adopted by banks and other institutions to market debit and pay later cards.Comprehensive analysis of consumer attitudes and buying preferences for cards.The competitive landscape in the Saudi Arabian cards and payments industry.
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ScopeIt provides current values for the Saudi Arabian cards and payments industry for 2015, and forecast figures to 2020.It details the different demographic, economic, infrastructural and business drivers affecting the Saudi Arabian cards and payments industry.It outlines the current regulatory framework in the industry.It details marketing strategies used by various banks and other institutions.
• This report provides a comprehensive analysis of the Saudi Arabian cards and payments industry.
Reasons to BuyUnderstand the key market trends and growth opportunities in the Saudi Arabian cards and payments industry.Assess the competitive dynamics in the Saudi Arabian cards and payments industry.Gain insights into marketing strategies used for various card types in Saudi Arabia.Gain insights into key regulations governing the Saudi Arabian cards and payments industry.
• Make strategic business decisions, using top-level historic and forecast market data, related to the Saudi Arabian cards and payments industry and each market within it.
Key HighlightsThe emergence of digital only banks is likely to further encourage a shift towards electronic payments in Saudi Arabia. Gulf International Bank launched the first digital-only bank, Meem, in Saudi Arabia in January 2015. Meem offers online and mobile banking only, with no physical branches. At present, Meem only targets retail banking customers.
• The Saudi Arabian Monetary Agency (Sama) has taken a number of initiatives to encourage electronic payments, including establishing a new electronic payment system, mada, and mandatory wage payments into bank accounts. It launched a modified Saudi Payment Network (Span) as mada in September 2015. Span links all ATMs and point-of-sale (POS) terminals across the country to a central payment switch, and the regulator expects the new system to increase the use of POS terminals. To encourage the use of the POS terminals, the daily purchase limit per card was increased from US$5,333.3 (SAR20,000) to US$16,000 (SAR60,000). Moreover, mada card users are provided with a value-added service, Purchase with Cashback, through which cardholders can request that merchants add extra amounts to purchase prices and receive the amounts in cash. Consumers can withdraw a maximum of US$106.7 (SAR400) per day on each card at merchant stores using this facility.
Al Rajhi Bank The National Commercial Bank Riyad Bank Arab National Bank The Saudi British Bank Samba Financial Group Visa MasterCard American Express
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