Market Overview: Saudi Arabia Cards & Payments Market

According to the latest report from MarkNtel Advisors, the Saudi Arabia Cards & Payments Market is projected to grow at a CAGR of around 8.40% during the forecast period, i.e., 2023-2028.  The market research firm is renowned for assessing business performance, product portfolios, operational segments, and developments, providing stakeholders with precise market projections and estimates through a rigorous research process. The report includes a SWOT analysis for ROI feasibility, economic conditions, statistics, and variables supporting strategic market forecasts. Stakeholders receive accurate market insights for informed decision-making.

Our Report on the Saudi Arabia Cards & Payments Market Offers Insights into The Following Segments

Clients seeking to invest in this market must be fully aware of its lucrative segments to leverage maximum gain. Keeping this in mind, our analyst has categorized the market into numerous segments, based on several factors. These segments are usually based on Product or Service Type, Applications, End-Users, and Others, further sub-categorized for extended benefits. Our report covers each sub-segment and also identifies the one that holds the largest share or has dominated the market in the historical period. 

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Growth Opportunity: Growing Collaboration Between Financial Institutions & Tech-based Companies

The zero tax policies on the salaries withdrawn & lucrative job opportunities are propelling the young talent to mitigate to Saudi Arabia, as a result, the population of expatriates has been on the rise for the past few years. According to the government of Saudi Arabia, the total population of expatriates in the country reached over 13.5 million in 2021. Hence, the aforesaid has resulted in a notable upsurge in foreign payments since individuals send some share of their salaries to their native hometown. These foreign transactions are possible via different cards offered by the companies such as Visa, Mastercard, etc., hence the companies have started collaborating with the national bank of Saudi Arabia to provide different cash reward points & engage more consumers

-By Type of Cards

  • Debit Cards
  • Fleet/Fuel Cards
  • ATM Cards
  • Prepaid Cards
  • Credit Cards

-By Type of Payment Instrument

  • Cards
  • Mobile Wallets
  • Credit Transfers
  • Cash
  • Debit Cards
  • Checks

-By Type of Payments

  • B2B
  • B2C
  • C2C
  • C2B

-By Transaction Type

  • Domestic
  • Foreign

-By Application

  • Food & Groceries
  • Health & Pharmacies
  • Travel & Tourism
  • Hospitality
  • Others (Media & Entertainment, etc.)

-By Institution Type

  • Financial
  • Non-Financial

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Other than such categorization, our reports also locate the geographical areas that are either dominating the market in terms of size or volume or seem promising for the future. Based on demographics, consumer behavior, market supply and demand, and how the market performed in the past few years, the geographical growth of the market among such as 

-By Region

  • Central
  • East
  • West
  • South

Leading Saudi Arabia Cards & Payments Market Players and Their Vision

The report identifies the major players within the market and comprehensively analyses their business approach, patterns, advancements, and factory setup to predict their market presence for the next five years. The data provided after meticulous research has the potential to make even new entrants stand out in the long run. With the right set of data and actionable insights, our research report provides a holistic overview of the market, facilitating investors or stakeholders to put a strong foothold in the Saudi Arabia Cards & Payments market. The major players profiled in the research report, along with their net worth and valuation in USD, are,

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  • American Express
  • Visa
  • Mastercard
  • Saudi British Bank
  • One Card
  • Citibank
  • Diners Club
  • Hyperpay
  • Banque Saudi Fransi.
  • Paypal
  • Others (Samba Financial Group, Alinma Bank, etc.)

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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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