Discover insights into the Saudi Arabia Cards and Payments Market set to grow at CAGR of around 8.5% from 2024-30.

Latest Market Study report by MarkNtel Advisors: Leading market research company, Title “ Saudi Arabia Cards and Payments Market- 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)” and other forecast 2024-30”.

This thorough report takes a close look at the industry, covering important areas like the Saudi Arabia Cards and Payments Market Size, how much it's growing, its development, and the top companies involved. It explores what's pushing the market forward, using data from the past, present, and future, as well as new trends, updates in technology, key insights, recent changes, potential challenges, and other factors that will impact the industry's future direction.

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Saudi Arabia Cards and Payments Market Trends:

Rising Collaboration Between Financial Institutions & Tech-based Companies – The zero tax policies on the salaries withdrawn & lucrative job opportunities are propelling the young talent to mitigate to Saudi Arabia, as a result, the population of expatriates has been on the rise for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. 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 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.

Saudi Arabia Cards and Payments Industry Segmentation:

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
  • E-Commerce Payments
  • Payments at POS Terminals

By Transaction Type

• Domestic
• Foreign

By Application

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

By Institution Type

• Financial
• Non-Financial

By Region

• Central
• East
• West
• South

Dividing the Saudi Arabia Cards and Payments market into various sections gives a brief snapshot. It aids businesses in grasping customer preferences and their locations. By segmenting the market into smaller categories based on buying behaviors and geography, companies can enhance their business tactics. This overview provides a simple roadmap to comprehend the market better.

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Competitor Insight – Leading Saudi Arabia Cards and Payments Market Player

• Saudi National Bank SNB
• The Al Rajhi Bank
• Alawwal Bank
• Banque Saudi Fransi
• Riyad Bank
• Arab National Bank
• Bank Al Jazira
• Bank Al Bilad
• Saudi Investment Bank
• Alinma Bank

In this market competitor analysis section, we assess the performance of various companies relative to each other. We analyze their strong points and areas for improvement to grasp who is excelling and why. This enables us to discern which strategies are effective and what adjustments may be necessary to maintain competitiveness.

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