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UAE Cards & Payments: Opportunities and Risks to 2023 -
[March 27, 2020]

UAE Cards & Payments: Opportunities and Risks to 2023 -

The "UAE Cards & Payments: Opportunities and Risks to 2023" report has been added to'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:

  • Current and forecast values for each market in the Emirati cards and payments industry, including debit, credit, and charge cards.
  • Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the Emirati cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Market Insights

The UAE government is taking steps to further push the use of electronic payments in the country. One such initiative is the digital payments campaign conducted across October 21-25, 2019. As part of the campaign, 40 governmental and semi-governmental entities and a number of private entities only allowed consumers to make payments for over 1,100 services via mobile apps or web portals, instead of visiting service centers. The government allocated AED1.0m ($0.3m) for the campaign, which was offered as cashback to consumers upon making payments electronically. Earlier in 2017 the government conducted a similar campaign called A Day Without Service Centres.

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

  • Make strategic business decisions, using top-level historic and forecast market data, related to the Emirati cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Emirati cards and payments industry.
  • Assess the competitive dynamics in the Emirati cards and payments industry.
  • Gain insights into marketing strategies used for various card types in the UAE.
  • Gain insights into key regulations governing the Emirati cards and payments industry.

Key Topics Covered

  1. Card-based Payments
  2. E-commerce Payments
  3. Mobile Proximity Payments
  4. P2P Payments
  5. Bill Payments
  6. Alternative Payments
  7. Payment Innovations
  8. Payments Infrastructure & Regulation

Companies Mentioned

  • Abu Dhabi Commercial Bank
  • ADIB
  • Citibank
  • Commercial Bank of Dubai
  • Dubai Islamic Bank
  • Emirates Islamic
  • Emirates NBD
  • First Abu Dhabi Bank
  • HSBC
  • Mashreq Bank
  • National Bank of Abu Dhabi
  • Standard Chartered
  • and more!

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