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UAE Cards & Payments: Opportunities and Risks to 2023 - ResearchAndMarkets.comThe "UAE Cards & Payments: Opportunities and Risks to 2023" report has been added to ResearchAndMarkets.com's offering. UAE Cards & Payments: Opportunities and Risks to 2023 provides detailed analysis of market trends in the Emirati cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2015-19e). The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2019e-23f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes. The report brings together the publisher's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure. The report provides top-level market analysis, information and insights into the Emirati cards and payments industry, including:
Market Insights
Competition in the country's digital banking space is heating up following the launch of several digital-only banks. In 2017, various banks introduced digital-only offerings targeted at tech-savvy millennials in the UAE. The list includes CBD's CBD Now, Emirates NBD's Liv., and Mashreq Bank's Mashreq Neo. To attract new customers, Liv. conducted a campaign from April to August 2019 for customers who used their Liv. app or debit card and signed up for new products. 20 finalists were shortlisted to determine the ultimate winner, who was rewarded with a private island and a AED100,000 cash prize. The bank gained over 44,000 new customers during the promotional period. Banks are also shifting their focus towards SMEs, launching digital-only banks targeted at such businesses. In September 2019, Emirates NBD launched E20, a digital-only bank for entrepreneurs and SMEs. Mashreq Bank also launched digital-only bank NeoBiz for SMEs. To boost the e-commerce market, the Dubai eCommerce Strategy was approved by the Dubai Executive Council in September 2019. The strategy aims to increase e-commerce's contribution to the UAE's GDP by attracting more foreign direct investments in the e-commerce sector; reducing the cost of e-commerce operations by 20% (including storage, customs fees, VAT, and transportation); and speeding up customs clearance. Meanwhile, Dubai CommerCity - a joint venture between Dubai Airport Freezone Authority and wasl Asset Management Group - is the UAE's first dedicated e-commerce free zone, designed to provide government, administrative, customs, and logistics services to e-commerce companies. The first phase of the project is set to complete by the end of 2020. Reasons to Buy
Key Topics Covered
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/79ugyi View source version on businesswire.com: https://www.businesswire.com/news/home/20200327005174/en/ |