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Country Report

Financial Cards and Payments in

Financial Cards and Payments in the United Arab Emirates

Nov 2019

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Executive Summary

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Reward platforms and development of digital landscape strengthen card payments

Card payments continue to rise in the United Arab Emirates, with consumers using both cards as well as contactless payment methods to make payments more frequently and for smaller transactions. Economic indicators remain positive, with rising real GDP and low unemployment and inflation rates.

Digital platforms and payments growing in importance

Banks and payment system operators are partnering with fintech players to invest in digital initiatives, including payment platforms and loyalty platforms. E-banking is a key area of development as leading banks use technology to offer attractive services to their customers as well as reduce operational costs.

Central Bank planning to introduce a national integrated payments system by 2020

The Central Bank of the United Arab Emirates has announced that the country will have a new integrated payment system in place in 2020. It will build on the success of the e-dirham system and will contribute towards protecting the country's financial system.

Further consolidation could still be seen in the banking industry

There was major consolidation in the banking industry towards the end of the review period. Firstly, National Bank of Abu Dhabi and First Gulf Bank merged to create First Abu Dhabi Bank.

Digital payments to continue evolving

Financial cards are expected to continue to see steady growth over the forecast period, as the United Arab Emirates continues to attract expatriates from regional neighbouring countries and works to establish longer-term commitment and stays in the country by offering visas for retirees. Smart city initiatives by the government, aimed at ultimately having a cashless society, have improved the digital ecosystem in the country, with leading players such as Visa working to develop a local digital entrepreneurship culture and facilitating innovation in payment platforms.

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Overview

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in United Arab Emirates with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in United Arab Emirates, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in United Arab Emirates market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in United Arab Emirates?
What are the major operators and issuers in United Arab Emirates?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in United Arab Emirates, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in the United Arab Emirates - Industry Overview

EXECUTIVE SUMMARY

Reward platforms and development of digital landscape strengthen card payments

Digital platforms and payments growing in importance

Central Bank planning to introduce a national integrated payments system by 2020

Further consolidation could still be seen in the banking industry

Digital payments to continue evolving

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2014-2019
Table 2 Number of ATMs: Units 2014-2019
Table 3 Value Lost to Fraud 2014-2019
Table 4 Card Expenditure by Location 2019
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 6 Domestic versus Foreign Spend 2019

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 8 Financial Cards by Category: Number of Accounts 2014-2019
Table 9 Financial Cards Transactions by Category: Value 2014-2019
Table 10 Financial Cards by Category: Number of Transactions 2014-2019
Table 11 Consumer Payments by Category: Value 2014-2019
Table 12 Consumer Payments by Category: Number of Transactions 2014-2019
Table 13 M-Commerce by Category: Value 2014-2019
Table 14 M-Commerce by Category: % Value Growth 2014-2019
Table 15 Financial Cards: Number of Cards by Issuer 2014-2018
Table 16 Financial Cards: Number of Cards by Operator 2014-2018
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 20 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 21 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 22 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 23 Forecast Consumer Payments by Category: Value 2019-2024
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 25 Forecast M-Commerce by Category: Value 2019-2024
Table 26 Forecast M-Commerce by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources

Charge Cards in the United Arab Emirates - Category analysis

HEADLINES

PROSPECTS

Charge card numbers and transactions to continue declining over the forecast period

Commercial charge cards continue to face challenges

Introduction of VAT a further blow to personal charge cards

COMPETITIVE LANDSCAPE

American Express the dominant operator as well as a prominent issuer

Local residents offer American Express potential

Sharia-compliant charge cards offer interest-free transactions

CATEGORY DATA

Table 27 Charge Cards: Number of Cards in Circulation 2014-2019
Table 28 Charge Cards Transactions 2014-2019
Table 29 Charge Cards in Circulation: % Growth 2014-2019
Table 30 Charge Cards Transactions: % Growth 2014-2019
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2014-2019
Table 32 Commercial Charge Cards Transactions 2014-2019
Table 33 Commercial Charge Cards in Circulation: % Growth 2014-2019
Table 34 Commercial Charge Cards Transactions: % Growth 2014-2019
Table 35 Personal Charge Cards: Number of Cards in Circulation 2014-2019
Table 36 Personal Charge Cards Transactions 2014-2019
Table 37 Personal Charge Cards in Circulation: % Growth 2014-2019
Table 38 Personal Charge Cards Transactions: % Growth 2014-2019
Table 39 Charge Cards: Number of Cards by Issuer 2014-2018
Table 40 Charge Cards: Number of Cards by Operator 2014-2018
Table 41 Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 42 Charge Cards Payment Transaction Value by Operator 2014-2018
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2014-2018
Table 44 Commercial Charge Cards: Number of Cards by Operator 2014-2018
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2014-2018
Table 47 Personal Charge Cards: Number of Cards by Issuer 2014-2018
Table 48 Personal Charge Cards: Number of Cards by Operator 2014-2018
Table 49 Personal Charge Cards Transaction Value by Issuer 2014-2018
Table 50 Personal Charge Cards Transaction Value by Operator 2014-2018
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2019-2024
Table 52 Forecast Charge Cards Transactions 2019-2024
Table 53 Forecast Charge Cards in Circulation: % Growth 2019-2024
Table 54 Forecast Charge Cards Transactions: % Growth 2019-2024
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 56 Forecast Commercial Charge Cards Transactions 2019-2024
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2019-2024
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 60 Forecast Personal Charge Cards Transactions 2019-2024
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2019-2024
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2019-2024

Credit Cards in the United Arab Emirates - Category analysis

HEADLINES

PROSPECTS

Rewards helping to promote credit card usage

E-commerce and digitisation drive credit card spend

Al Etihad Credit Bureau offering its services via a mobile app

COMPETITIVE LANDSCAPE

First Abu Dhabi Bank and Mashreq Bank the leading credit card issuers

Visa and Mastercard developing new payment technology

India’s RuPay payment network begins issuing cards in the United Arab Emirates

CATEGORY DATA

Table 63 Credit Cards: Number of Cards in Circulation 2014-2019
Table 64 Credit Cards Transactions 2014-2019
Table 65 Credit Cards in Circulation: % Growth 2014-2019
Table 66 Credit Cards Transactions: % Growth 2014-2019
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 68 Commercial Credit Cards Transactions 2014-2019
Table 69 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 70 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 71 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 72 Personal Credit Cards Transactions 2014-2019
Table 73 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 74 Personal Credit Cards Transactions: % Growth 2014-2019
Table 75 Credit Cards: Number of Cards by Issuer 2014-2018
Table 76 Credit Cards: Number of Cards by Operator 2014-2018
Table 77 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 78 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 80 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 83 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 84 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 88 Forecast Credit Cards Transactions 2019-2024
Table 89 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 90 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 92 Forecast Commercial Credit Cards Transactions 2019-2024
Table 93 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 94 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 95 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 96 Forecast Personal Credit Cards Transactions 2019-2024
Table 97 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 98 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in the United Arab Emirates - Category analysis

HEADLINES

PROSPECTS

Continued influx of expats supports debit card growth, including supplementary debit cards

Digitisation driving debit card use

Debit cards to face competition from popularity of reward-based credit cards

COMPETITIVE LANDSCAPE

Leading debit card operator Visa looking to incorporate fintech in the United Arab Emirates

First Abu Dhabi Bank and Emirates NBD the leading debit card issuers

Banks jump on the digital and mobile payments train

CATEGORY DATA

Table 99 Debit Cards: Number of Cards in Circulation 2014-2019
Table 100 Debit Cards Transactions 2014-2019
Table 101 Debit Cards in Circulation: % Growth 2014-2019
Table 102 Debit Cards Transactions: % Growth 2014-2019
Table 103 Debit Cards: Number of Cards by Issuer 2014-2018
Table 104 Debit Cards: Number of Cards by Operator 2014-2018
Table 105 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 106 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 107 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 108 Forecast Debit Cards Transactions 2019-2024
Table 109 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 110 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in the United Arab Emirates - Category analysis

HEADLINES

PROSPECTS

Salary pre-paid cards account for a large share in this category

Travel pre-paid cards and gift cards offer potential

Digital platforms to offer opportunities in pre-paid cards

COMPETITIVE LANDSCAPE

Dubai Road & Transportation Authority dominates closed loop pre-paid cards

Bigger players in payroll management lead in pre-paid cards

Currency exchange houses well positioned in travel pre-paid cards

CATEGORY DATA

Table 111 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 112 Pre-paid Cards Transactions 2014-2019
Table 113 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 114 Pre-paid Cards Transactions: % Growth 2014-2019
Table 115 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 117 Open Loop Pre-paid Cards Transactions 2014-2019
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 119 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 120 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 121 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 122 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 132 Forecast Pre-paid Cards Transactions 2019-2024
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Megatrends

Country Report

Financial Cards and Payments in the United Arab Emirates

New Report Guarantee

Executive Summary

New Report Guarantee

Reward platforms and development of digital landscape strengthen card payments

Digital platforms and payments growing in importance

Central Bank planning to introduce a national integrated payments system by 2020

Further consolidation could still be seen in the banking industry

Digital payments to continue evolving

Overview

Why buy this report?

Samples (FAQs about samples):

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Table of Contents

Financial Cards and Payments in the United Arab Emirates - Industry Overview

EXECUTIVE SUMMARY

Reward platforms and development of digital landscape strengthen card payments

Digital platforms and payments growing in importance

Central Bank planning to introduce a national integrated payments system by 2020

Further consolidation could still be seen in the banking industry

Digital payments to continue evolving

MARKET INDICATORS

MARKET DATA

SOURCES

Charge Cards in the United Arab Emirates - Category analysis

HEADLINES

PROSPECTS

Charge card numbers and transactions to continue declining over the forecast period

Commercial charge cards continue to face challenges

Introduction of VAT a further blow to personal charge cards

COMPETITIVE LANDSCAPE

American Express the dominant operator as well as a prominent issuer

Local residents offer American Express potential

Sharia-compliant charge cards offer interest-free transactions

CATEGORY DATA

Credit Cards in the United Arab Emirates - Category analysis

HEADLINES

PROSPECTS

Rewards helping to promote credit card usage

E-commerce and digitisation drive credit card spend

Al Etihad Credit Bureau offering its services via a mobile app

COMPETITIVE LANDSCAPE

First Abu Dhabi Bank and Mashreq Bank the leading credit card issuers

Visa and Mastercard developing new payment technology

India’s RuPay payment network begins issuing cards in the United Arab Emirates

CATEGORY DATA

Debit Cards in the United Arab Emirates - Category analysis

HEADLINES

PROSPECTS

Continued influx of expats supports debit card growth, including supplementary debit cards

Digitisation driving debit card use

Debit cards to face competition from popularity of reward-based credit cards

COMPETITIVE LANDSCAPE

Leading debit card operator Visa looking to incorporate fintech in the United Arab Emirates

First Abu Dhabi Bank and Emirates NBD the leading debit card issuers

Banks jump on the digital and mobile payments train

CATEGORY DATA

Pre-Paid Cards in the United Arab Emirates - Category analysis

HEADLINES

PROSPECTS

Salary pre-paid cards account for a large share in this category

Travel pre-paid cards and gift cards offer potential

Digital platforms to offer opportunities in pre-paid cards

COMPETITIVE LANDSCAPE

Dubai Road & Transportation Authority dominates closed loop pre-paid cards

Bigger players in payroll management lead in pre-paid cards

Currency exchange houses well positioned in travel pre-paid cards

CATEGORY DATA

Store Cards in the United Arab Emirates - Category analysis

PROSPECTS

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