The UAE card payments channel is anticipated to register a CAGR of over 8% by 2018, according to a new study on ASDReports

Tuesday 15 July 2014, Amsterdam

Report description overview:

The new report, now available on ASDReports: The United Arab Emirates’ Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape provides top-level market analysis, information and insights on the UAE cards and payments industry, including current and forecast values for each category of the UAE cards and payments industry, including debit cards, credit cards, charge cards and prepaid cards. You will gain a detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by banks and other institutions in the market.

The difference:

• Make strategic business decisions using top-level historic and forecast market data related to The United Arab Emirates’ cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities within the United Arab Emirates’ cards and payments industry.
• Gain insights in to the marketing strategies used for selling various card types in the United Arab Emirates.

Report highlights:

The UAE government’s initiative to promote cashless transactions, the growing popularity of payment cards based on traditional Islamic principles, the introduction of contactless technology, and the retail, e-commerce and tourism industries growth all contributed to the expansion of the UAE card payments channel in volume and value terms during the review period.
The government’s objectives to monitor and regulate workers’ rights, as well as help a large segment of the unbanked population into the banking system, supported the growth of the category. Payroll cards are becoming increasingly prevalent in the UAE, driven by the government-mandated wages protection system (WPS). This is an initiative to safeguard the payment of foreign and domestic workers’ wages via transfers through selected financial institutions and exchange houses.

The government’s G2 e-dirham card, a prepaid card launched in May 2009, provides an electronic platform for the payment and collection of government and non-government services such as fees, bills, fines, internet and mobile phone payments. The system provides top-up facilities through various accredited and outlet channels, including the National Bank of Abu Dhabi ATMs, direct debits and mobile phone payments.