Saudi Arabia Cards and Payments Market Gears Up for Impressive 8.5% CAGR Surge in 2024-2030.

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Saudi Arabia Cards and Payments Market
Saudi Arabia Cards and Payments Market

In-Depth Analysis of the Saudi Arabia Cards and Payments Market: 2024-2030 Forecasts

MarkNtel Advisors has recently released an in-depth study on the Saudi Arabia Cards and Payments Market, covering historical data, current market trends, marketing strategies, technological advancements, upcoming technologies, emerging opportunities, and technical advancements in the relevant industry.

How big is the Keyword Industry?

The Saudi Arabia Cards and Payments Market size is projected to grow at a CAGR of around 8.5% during the forecast period, i.e., 2024-30.

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Who are the top players in the Saudi Arabia Cards and Payments Market?

  • 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

Saudi Arabia Cards and Payments Market 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

View Full Report [Including Description + TOC] – https://www.marknteladvisors.com/research-library/saudi-arabia-cards-payments-market.html

Regional/ Countries Insight:

  • Central
  • East
  • West
  • South

What are the primary market drivers influencing the growth of Saudi Arabia Cards and Payments Market?

Saudi Arabia Cards and Payments Market Driver:

Growing Digital Adoption by Medium-scale & Large-scale Enterprises to Augment the Market – Saudi Arabia is an oil-rich country, and to diversify its financial resources, the government has laid down plans such as investment in construction projects, facilitation of public-private partnerships, and adoption of technologies to improve the digital infrastructure. Also, the country’s government has introduced Vision 2030, which aims to promote the adoption of digital payments, including e-wallets, credit cards, and debit cards, to enhance the country’s digital economy. Thus, this government-led vision has led medium-scale enterprises like prominent fast food outlets, hotels, etc., to accept digital payments via cards & wallets.

Further, the bankable population of Saudi Arabia has also expanded over the past few years. As a result, the surge in consumers opting for conventional digital payment methods is enhancing. According to the King Khalid Foundation, in 2022, 72% of the population in Saudi Arabia possessed bank accounts. Therefore, the growing bankable population & the digital adoption by different sectors are amplifying the demand for cards & payment in Saudi Arabia.

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Gain a Competitive Edge with Market Research Report

  1. The Saudi Arabia Cards and Payments Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
  2. Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
  3. The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
  4. Apart from market trends and projections, the Saudi Arabia Cards and Payments Market Report assists in assessing and mitigating risks associated with entering or operating in the market
  5. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.

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