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Learn moreNov 2020
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In 2020, credit card payments have been hit hard by severe restrictions on the operations of the travel and retail sectors during the COVID-19 lockdown and, in the case of travel, over an extended period. These are key sectors for credit card payments, so these restrictions have led to a fall in overall credit card payments despite a rise in online purchases and a shift towards online payments rather than cash on delivery.
Co-branded credit cards have suffered markedly from the impact of COVID-19 on the travel and hospitality sectors. However, many merchants have explored the potential for co-branded credit cards to strengthen consumer loyalty, especially in segments such as grocery retailers.
Visa remains the largest operator in credit cards thanks to its ever stronger relationships with the leading local banks in the United Arab Emirates. Visa has increased its focus on developing mobile financial services, and a great number of these services include developing payment capabilities for local issuers as well as merchants.
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Discover the latest market trends and uncover sources of future market growth for the Credit Card Transactions industry in United Arab Emirates with research from Euromonitor's team of in-country analysts.
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Euromonitor’s industry reports, including Credit Card Transactions in United Arab Emirates, originate from our database within our Consumer Finance market share and market size database
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