Payments in the UAE Market 2017–By Identifying the Key Market Segments Poised for Strong Growth in Future

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SUMMARY

WiseGuyReports published new report, titled “Payments in the UAE 2017: What Consumers Want”

"Payments in the UAE 2017: What Consumers Want", report examines the consumer payments market in the UAE, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.
The UAE payments market is defined by a high reliance on cash among consumers, with cash accounting for 84.6% of the total payment transaction volume in 2017. This was primarily because consumers in the UAE see cash as a quicker and safer payment option over which they have more control. However, card payments are gradually increasing, supported by government financial inclusion programs, promotional campaigns by financial institutions, and the adoption of newer payment technologies.

In terms of transaction volume and value, debit cards will continue to dominate the overall payment card market. However, their usage is mostly confined to cash withdrawals at ATMs. Pay-later cards will remain the preferred card for payments at POS terminals. Growth in the Emirati payment card market will be largely driven by credit cards and charge cards, with their growth rates outreaching pay-now cards throughout the forecast period.

It provides in-depth analysis of the following –

- Analyzes consumer attitudes to financial services by lifestage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in India are deploying these tools to meet customer needs.
- Explores the online payment market in India by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

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Scope

- The government introduced the Wage Protection System (WPS) in January 2009, requiring all wage payments to be made through a bank, bureau de change, or other authorized financial institution.
- In August 2009, the Roads and Transport Authority launched prepaid cards in Dubai for e-ticketing on different modes of transport such as buses, water buses, trams, and metros.
- The Smart Dubai plan was introduced by the government in March 2014. It focuses on increasing the range of online services available, and helps citizens familiarize themselves with electronic services and online payments.

Key points to buy

- Understand the key facts and figures in the consumer payments market in the UAE.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiments towards various payment tools in the Indian market and use this knowledge to inform product design.

Table of Contents

Market Overview
Megatrends
Card-based Payments
E-commerce Payments
Alternative Payments
Payments Infrastructure & Regulation
Appendix

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Release ID: 266158