MarkNtel Advisors recently published a detailed industry analysis of the Saudi Arabia Cards and Payments Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Saudi Arabia Cards and Payments Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Saudi Arabia Cards and Payments Market is estimated to grow at a CAGR of around 8.5% during the forecast period, 2025-30. 

Key Findings in Saudi Arabia Cards and Payments Market:

• Historical Analysis: 2020–2023
• Base Year: 2024
• Forecast Period: 2025–2030

Leading Market Players- 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,

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Saudi Arabia Cards and Payments Market?

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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What segments define the Saudi Arabia Cards and Payments Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?

By Type of Cards

• • Debit Cards
  • Fleet/Fuel Cards
  • ATM Cards
  • Prepaid Cards
  • Credit Cards

According to report, The Debit Cards segment held the largest share of the Saudi Arabia Cards and Payments Market in the historical years and is predicted to flourish during 2025-30, owing to the increasingly rising bankable population in the country.

By Type of Payment Instrument

• • Cards
  • Mobile Wallets
  • Credit Transfers
  • Cash
  • Debit Cards
  • Checks

According to report, The Customer Business (C2B) segment emerged as one of the dominant types of payments in the Saudi Arabia Cards and Payments Market. 

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

Explore the Complete Saudi Arabia Cards and Payments Market Analysis Report – https://www.marknteladvisors.com/research-library/saudi-arabia-cards-payments-market.html

Geographical Analysis: Saudi Arabia Cards and Payments Market

 By Region

• Central
• East
• West
• South

Saudi Arabia Cards and Payments Market Recent Development:

• In April 2024, The Saudi National Bank (SNB) partnered with Mastercard to introduce the Flexi credit card, allowing consumers in Saudi Arabia to make purchases in 4 interest free installments. This initiative marks the starter of the Mastercard Installments Program in the country, enhancing accessibility for a wide range of customers.
• In June 2024, In order to create a platform for Central Bank Digital Currencies (CBDCs) that would enable quicker and more affordable cross-border payments, Saudi Arabia joined Project mBridge. By consolidating many jurisdictions under a unified technology infrastructure, the project aims to enhance international transactions.
• In 2023, Saudi National Bank (SNB) and Japan-based card scheme JCB International have collaborated to enable the acceptance of JCB Cards across the Kingdom of Saudi Arabia via an extensive network comprising over 306,351 POS terminals and 3,088 ATMs. This partnership aims to provide convenience for JCB cardholders in the Middle East, enhancing their access to financial services within the SNB network.
• In 2023, Al Rajhi Banking & Investment Corp and American Express Saudi Arabia entered a strategic agreement, permitting American Express Card members to utilize Alrajhi Bank's ATM terminals for cash withdrawals. This collaboration expands American Express's network by over 4,500 ATM terminals, providing enhanced accessibility & convenience for its customers across the Kingdom.

Key Questions Addressed in This Study

• What are the primary factors driving the growth of the Saudi Arabia Cards and Payments Market?
• How is the Saudi Arabia Cards and Payments Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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