GCC Financial Cards & Payments Market Size, Share, Trends, Analysis Future and forecast 2023-28

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Let’s Run Through the GCC Financial Cards & Payments Market Insights to Have a Clear View

The GCC Financial Cards & Payments Market is projected to grow at a CAGR of around 11.2% during the forecast period, i.e., 2023-28.

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Examining the Top Competitors of the GCC Financial Cards & Payments Market Size:

In this section, we will explore the GCC Financial Cards & Payments Market from a competitive perspective, providing information on company profiles, financials, resources, key initiatives, R&D investments, strengths, weaknesses, and more. Leading companies in the market often form partnerships & collaborations to engage in joint venture programs, facilitating efficient resource sharing & goal achievement. Now, let’s delve into the details & acquaint ourselves with these market players.

• Visa
• Mastercard
• American Express
• Citibank
• HSBC
• PayPal express checkout
• HDFC Bank
• Diners Club
• Barclays
• Hyperpay
• Others

A Comprehensive Overview of Geographical Diversity:

the GCC Financial Cards & Payments Market expands across:

• Saudi Arabia
• The UAE
• Qatar
• Bahrain
• Kuwait
• Oman

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Key Driver: Expanding E-commerce Industry Across the Region

The growing e-commerce industry across the GCC region has well-supported the financial cards and payments market in the historical years. The countries, such as the UAE, Saudi Arabia, Qatar, etc., have witnessed a significant surge in online retail sales due to high investments by the global retail players in the lucrative market GCC. For instance, in 2020, Carrefour and Lulu Group, two of the largest retailers in the Middle East, launched their online shopping portals in the UAE. The countries, including the UAE, Qatar, Kuwait, and Bahrain have almost 100% of the population with internet and mobile phone access.

Due to this, the transactional volume through payments made via financial cards, such as debit cards, prepaid cards, credit cards, etc., has increased considerably. According to the International Trade Administration (ITA), e-commerce sales in the UAE recorded USD3.9 billion in revenues during 2020, a jump of 53% from 2019. Moreover, the Dubai Chamber of Commerce and Industry forecasts e-commerce to generate USD8 billion in sales by the year 2025. Hence, it is expected that the ever-growing e-commerce market in the region would promulgate the demand for financial cards and payments in the forecast years.

GCC Financial Cards & Payments Market Segmentation Outline:

• By Type (Card [Credit Card, Debit Card, Charge Card, Prepaid Card])
• By Type of Payments (B2B, B2C, C2C, C2B [E-Commerce Shopping, Payments at POS Terminals, Others])
• By Type of Transactions (Domestic, Foreign)
• By Card Issuing Institution (Banking, Non-Banking)

Key Questions Addressed in the GCC Financial Cards & Payments Market Research Report:

• What is the estimated size, share, & CAGR of the GCC Financial Cards & Payments Market in the forecast period?
• What are the key trends projected to impact the GCC Financial Cards & Payments Market during 2023-28?
• What are the different segments & sub-segments considered in the GCC Financial Cards & Payments Market research study?
• Who are the key stakeholders and players participating in the GCC Financial Cards & Payments Market?
• What would be the demand for different types of products/services in the GCC Financial Cards & Payments Market through 2028?

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Note: The GCC Financial Cards & Payments Market can further be customized with multi-dimensional, deep-level, & high-quality insights as per the specific requirements of clients to help them garner the industry’s prospects, effortlessly encounter market challenges, adequately formulate different strategies, and make sound decisions to remain competitive in the market.

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