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Summary

GlobalData’s "The Cards and Payments Industry in Saudi Arabia: Emerging trends and opportunities to 2020", report provides detailed analysis of market trends in the Saudi cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cash, direct debit, payment cards, and cheques during the review period (2012-2016).

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 (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

The report provides top-level market analysis, information and insights into the Saudi cards and payments industry, including -
- Current and forecast values for each market in the Saudi cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including credit transfers, cheques, cash, direct debit, and payment cards. 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 Saudi cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope

- To encourage electronic payments, SAMA has taken a number of initiatives, including establishing a new electronic payment system called Mada and introducing mandatory wage payments into bank accounts. It launched a modified payments network in September 2015 linking all ATMs and point-of-sale (POS) terminals across the country to a central payment switch, with the aim of boosting electronic payments. To encourage the use of POS terminals, the daily purchase limit per card was increased from $5,333 (SAR20,000) to $15,998 (SAR60,000). Moreover, Mada card users can receive a maximum of $106.70 (SAR400) cashback from merchants per day on each card.
- To drive contactless payments, SAMA launched a contactless payment service called Mada Atheer in November 2016. The service permits Mada card holders to conduct low-value transactions by waving the card at POS terminals. During the trial conducted from January 2016 750,000 Mada Atheer-enabled Mada cards were issued and more than 50,000 Atheer-supporting POS terminals were launched in Saudi Arabia.
- To provide convenient payments for online transactions, in April 2016 SAMA introduced an e-payment service called the SADAD Account, providing a direct link between banks and online merchants. The service enables consumers to facilitate online payments by directly debiting their SADAD Account and transferring the amount to the merchant’s account. Upon opening a SADAD Account with a participating bank, consumers are provided with a username and password that can be used when shopping at member stores. At the time of writing NCB, Samba Financial Group, Riyad Bank, Saudi British Bank (SABB), AlJazira Bank, Al Rajhi Bank, Arab National Bank (ANB), and Saudi Investment Bank (SAIB) are offering the service.

Reasons to buy

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

Table of Contents
EXECUTIVE SUMMARY 2
1.1. Market overview 2
1.2. Key facts 4
1.3. Top five industry events 5
2. PAYMENT INSTRUMENTS 11
2.1. Current payment environment 11
3. E-COMMERCE AND ALTERNATIVE PAYMENTS 13
3.1. E-commerce market analysis 13
3.2. Alternative payment solutions 15
3.2.1. PayPal 15
3.2.2. PayFort 15
3.2.3. Boku 15
3.2.4. Paysafecard 16
3.2.5. Bango 16
3.2.6. T-Pay 16
3.2.7. M-Pesa 16
4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 17
4.1. Regulatory framework 17
4.1.1. Payment systems 17
4.1.2. The Wage Protection Law 18
4.2. Anti-money laundering 18
4.3. Foreign direct investment (FDI) regulations 19
5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 20
6. PAYMENT CARDS 23
7. DEBIT CARDS 25
7.1. Debit cards market analysis 25
7.2. Competition in the debit cards market 27
7.3. Debit card comparison 28
8. PAY-LATER CARDS 29
8.1. Pay-later cards market analysis 29
8.2. Competition in the pay-later cards market 31
8.3. Pay-later cards comparison 33
9. APPENDIX 35
9.1. Abbreviations and acronyms 35
9.2. Supplementary data 36
9.3. Definitions 47
9.4. Methodology 49
9.5. Bibliography 51
9.6. Further reading 51

List of Tables
Table 1: Saudi Arabia: key facts, 2016 4
Table 2: Saudi Arabia: regional benchmarking of payment cards, 2016 4
Table 3: Saudi Arabia: mode of entry of foreign banks 19
Table 4: Saudi Arabia: debit card comparison and key features, 2016 28
Table 5: Saudi Arabia: Gold credit cards comparison and key features, 2016 33
Table 6: Saudi Arabia: Premium credit cards comparison and key features, 2016 33
Table 7: Saudi Arabia: charge credit cards comparison and key features, 2016 34
Table 8: Saudi Arabia: payment instrument transaction values (SARbn), 2012-16 36
Table 9: Saudi Arabia: payment instrument transaction values ($bn), 2012-16 36
Table 10: Saudi Arabia: payment instrument transaction volumes (millions), 2012-16 36
Table 11: Saudi Arabia: payment cards in circulation by type (millions), 2012-20f 36
Table 12: Saudi Arabia: volume of payment card transactions (millions), 2012-20f 37
Table 13: Saudi Arabia: value of payment card transactions (SARbn), 2012-20f 37
Table 14: Saudi Arabia: value of payment card transactions ($bn), 2012-20f 37
Table 15: Saudi Arabia: debit cards in circulation (millions), 2012-20f 37
Table 16: Saudi Arabia: debit card transaction volumes, 2012-20f 38
Table 17: Saudi Arabia: debit card transaction values (SAR), 2012-20f 38
Table 18: Saudi Arabia: debit card transaction values ($), 2012-20f 38
Table 19: Saudi Arabia: debit cards in circulation by scheme (millions), 2012-16 39
Table 20: Saudi Arabia: debit card transaction values by scheme (SARbn), 2012-16 39
Table 21: Saudi Arabia: debit card transaction values by scheme ($bn), 2012-16 39
Table 22: Saudi Arabia: debit card transaction values by issuer (SARbn), 2012-16 39
Table 23: Saudi Arabia: debit card transaction values by issuer ($bn), 2012-16 40
Table 24: Saudi Arabia: pay-later cards in circulation (millions), 2012-20f 40
Table 25: Saudi Arabia: pay-later card transaction volumes, 2012-20f 40
Table 26: Saudi Arabia: pay-later card transaction values (SAR), 2012-20f 40
Table 27: Saudi Arabia: pay-later card transaction values ($), 2012-20f 41
Table 28: Saudi Arabia: pay-later cards in circulation by scheme (000s), 2012-16 41
Table 29: Saudi Arabia: pay-later card transaction values by scheme (SARbn), 2012-16 41
Table 30: Saudi Arabia: pay-later card transaction values by scheme ($bn), 2012-16 41
Table 31: Saudi Arabia: pay-later card transaction values by issuer (SARm), 2012-16 42
Table 32: Saudi Arabia: pay-later card transaction values by issuer ($m), 2012-16 42
Table 33: Saudi Arabia: credit cards in circulation (millions), 2012-20f 42
Table 34: Saudi Arabia: credit card transaction volumes, 2012-20f 42
Table 35: Saudi Arabia: credit card transaction values (SAR), 2012-20f 43
Table 36: Saudi Arabia: credit card transaction values ($), 2012-20f 43
Table 37: Saudi Arabia: credit cards in circulation by scheme (000s), 2012-16 43
Table 38: Saudi Arabia: credit card transaction values by scheme (SARbn), 2012-16 44
Table 39: Saudi Arabia: credit card transaction values by scheme ($bn), 2012-16 44
Table 40: Saudi Arabia: charge cards in circulation (000s), 2012-20f 44
Table 41: Saudi Arabia: charge card transaction volumes, 2012-20f 44
Table 42: Saudi Arabia: charge card transaction values (SAR), 2012-20f 45
Table 43: Saudi Arabia: charge card transaction values ($), 2012-20f 45
Table 44: Saudi Arabia: charge cards in circulation by scheme (000s), 2012-16 45
Table 45: Saudi Arabia: charge card transaction values by scheme (SARm), 2012-16 45
Table 46: Saudi Arabia: charge card transaction values by scheme ($m), 2012-16 46
Table 47: Key definitions 47

List of Figures
Figure 1: Saudi Arabia: payment instrument shares by transaction value (%), 2012 vs 2016 11
Figure 2: Saudi Arabia: payment instrument shares by transaction volume (%), 2012 vs 2016 12
Figure 3: Saudi Arabia: e-commerce market value, 2012-20f 13
Figure 4: Saudi Arabia: population and economic indicators 20
Figure 5: Saudi Arabia: ATMs, POS terminals and household consumption 21
Figure 6: Saudi Arabia: payment cards transaction value and cards in circulation, 2012-20f 23
Figure 7: Saudi Arabia: debit card penetration and turnover per card 25
Figure 8: Saudi Arabia: debit cards scheme and issuer transaction value share, 2016 27
Figure 9: Saudi Arabia: pay-later card penetration and turnover per card 29
Figure 10: Saudi Arabia: pay-later cards scheme and issuer transaction value share, 2016 31

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