Kuwaits Cards and Payments Industry Trend, Growth and Analysis

Kuwaits Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape Synopsis The report provides top-level market analysis, information and insights into Kuwait's cards and payments industry, including: Current and forecast values for each category of Kuwait's cards and payments industry, including debit cards, credit cards, charge cards and prepaid cards Comprehensive analysis of the industry’s market attractiveness and future growth areas Analysis of various market drivers and regulations governing Kuwait's cards and payments industry Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by banks and other institutions in the market Comprehensive analysis of consumer attitudes and buying preferences for cards The competitive landscape of Kuwait's cards and payments industry Executive summary The Kuwaiti card payments channel grew strongly in terms of transaction value during the review period (2009−2013). The card payments channel valued KWD16.0 billion (US$56.4 billion) in 2013, after registering a compound annual growth rate (CAGR) of 12.02%. Improved banking infrastructure and the increased installation of point of sale (POS) terminals in merchant outlets were the channel’s key growth factors. In terms of transaction value, debit cards accounted for a channel share of 60.0% in 2013, and situation which is expected to be maintained over the forecast period. Due to the emergence of contactless payment systems, enhanced security features and the convenience of electronic payments, Kuwait’s population has been encouraged to perform more card-based transactions. In 2013, the 3D password feature was added to credit cards by Ahli United Bank Kuwait, and helped to increase customer confidence for card-based transactions. To promote debit card usage, an integrated POS service is being installed across all Gulf Cooperation...