2022 Financial Cards and Payments in the United Arab Emirates Market Report: Five-year Forecasts to Assess How the Market is Predicted to Develop
Dublin, Feb. 09, 2023 (GLOBE NEWSWIRE) — The “Financial Cards and Payments in the United Arab Emirates” report has been added to ResearchAndMarkets.com’s offering.
The Financial Cards and Payments in United Arab Emirates report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards.
It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
2021 witnessed strong economic recovery in the United Arab Emirates, led by a surge in consumer spending following pent-up demand during the pandemic and the reopening of hospitality and resumption of leisure activities.
Naturally, increased consumer expenditure resulted in further usage of both debit and credit cards.
Product coverage: Financial Cards in Circulation, M-Commerce, Transactions.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Financial Cards and Payments market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Key Topics Covered:
FINANCIAL CARDS AND PAYMENTS IN THE UNITED ARAB EMIRATES
EXECUTIVE SUMMARY
- Financial cards and payments in 2022: The big picture
- 2022 key trends
- Alternative financial service providers grow in popularity
- Competitive landscape
- What next for financial cards and payments?
MARKET INDICATORS
MARKET DATA
DISCLAIMER
SOURCES
DEBIT CARDS IN THE UNITED ARAB EMIRATES
KEY DATA FINDINGS
2022 DEVELOPMENTS
- Debit card growth stabilises
- Expansion of contactless capability increases volume transactions
- First paperless direct debit in United Arab Emirates launched
PROSPECTS AND OPPORTUNITIES
- Instalment plan expansion could fuel further growth
- Payment through alternative smart solutions
- Debit cards to be outpaced by credit card growth
CATEGORY DATA
CREDIT CARDS IN THE UNITED ARAB EMIRATES
KEY DATA FINDINGS
2022 DEVELOPMENTS
- Credit card transactions continue to increase in 2022
- Higher credit card limits and reliance on cash advance continue
- Digital-only cards grow in popularity
PROSPECTS AND OPPORTUNITIES
- Digital payment methods to help fuel credit card growth
- Digital loyalty cards partner with credit card providers
- Higher interest rates may hinder stronger credit card growth over forecast period
CATEGORY DATA
CHARGE CARDS IN THE UNITED ARAB EMIRATES
KEY DATA FINDINGS
2022 DEVELOPMENTS
- Number of charge cards in circulation registers further dip in 2022
- Intensifying competition offered by fintech payment solutions
- Commercial segment remains driving force behind charge cards
PROSPECTS AND OPPORTUNITIES
- Merchant acceptance will remain a challenge over forecast period
- Mid-income consumers an untapped market for charge cards
- High charge card fees a factor limiting stronger uptake
CATEGORY DATA
PRE-PAID CARDS IN THE UNITED ARAB EMIRATES
KEY DATA FINDINGS
2022 DEVELOPMENTS
- Recovery in spending following impact of pandemic fuels gift card growth
- Closed loop pre-paid cards registers fastest growth within financial cards
- Ramping up of digitalisation in United Arab Emirates to benefit pre-paid cards
PROSPECTS AND OPPORTUNITIES
- Further development of fintech could support growth of pre-paid cards
- Trust around e-commerce is improving but fraud concerns remain relevant
- Open loop pre-paid cards to continue to be outperformed by closed loop
CATEGORY DATA
STORE CARDS IN THE UNITED ARAB EMIRATES
- 2022 DEVELOPMENTS
For more information about this report visit https://www.researchandmarkets.com/r/ovqdb8
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