United Arab Emirates Prepaid Card and Digital Wallet Market Report 2022-2026: Banks are Building Partnerships with Digital Payment Providers to Launch Virtual 'Buy Now Pay Later' Prepaid Cards
DUBLIN, Aug. 2, 2022 /PRNewswire/ -- The 'United Arab Emirates Prepaid Card and Digital Wallet Business and Investment Opportunities Databook - Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend' report has been added to ResearchAndMarkets.com's offering.
The prepaid card market (value terms) in the United Arab Emirates (the UAE) increased at a CAGR of 9.4% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 13.1%, increasing from US$5.66 billion in 2022 to reach US$9.26 billion by 2026.
This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in United Arab Emirates. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.
Government initiatives are providing boost to the payroll cards market
Government backed the Wage Protection System (WPS) system, coupled with growing cash to card initiatives, and public-private-partnerships are driving the payroll cards market growth. For instance,
The publisher expects the enhanced payroll card will attract large, medium, and small corporates who would want to provide these flexibilities to their employees. Subsequently, this will increase the usage of these payroll cards, providing impetus to the growth of the overall prepaid card market in the UAE.
Banks are building partnerships with digital payments providers to launch virtual 'buy now pay later' prepaid cards in the UAE
With the popularity of buy-now, pay-later (BNPL) solutions in the UAE, partnerships are building up to gain market share.
Partnerships to launch limited-edition prepaid cards are rising
Banking providers are joining hands with payments and technology companies to launch limited-edition prepaid cards.
Payit collaborated with PLATX to collect payments via WhatsApp
The partnership will provide the customers with the first WhatsApp-based payment solution in the Middle East, likely to attract significant customers. Moreover, such an innovative solution for merchant partners, especially in the SME segment, is likely to generate high revenue in the medium to long run perspective.
United Arab Emirates Digital Wallet Market Size and Forecast
United Arab Emirates Digital Wallet Market Size and Forecast by Key Segments
United Arab Emirates Prepaid Card Industry Market Attractiveness
Market Share Analysis by Functional Attributes - Open Loop vs. Closed Loop, 2016 - 2025
Market Share Analysis by Prepaid Card Categories
United Arab Emirates Open Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
United Arab Emirates Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
United Arab Emirates Prepaid Card Consumer Usage Trends
United Arab Emirates General Purpose Prepaid Card Market Size and Forecast
United Arab Emirates Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location
United Arab Emirates Entertainment and Gaming Prepaid Card Market Size and Forecast
United Arab Emirates Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
United Arab Emirates Business and Administrative Expense Prepaid Card Market Size and Forecast
United Arab Emirates Payroll Prepaid Card Market Size and Forecast
United Arab Emirates Meal Prepaid Card Market Size and Forecast
United Arab Emirates Travel Forex Prepaid Card Market Size and Forecast
United Arab Emirates Transit and Tolls Prepaid Card Market Size and Forecast
United Arab Emirates Healthcare and Wellness Prepaid Card Market Size and Forecast
United Arab Emirates Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
United Arab Emirates Fuel Prepaid Cards Market Size and Forecast
United Arab Emirates Utilities, and Other Prepaid Cards Market Size and Forecast
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