Saudi Arabia Prepaid Card and Digital Wallet Databook 2024 - Saudi Fintech Firms are Scaling their Business Across the Region with the Launch of a Card Issuance Service - ResearchAndMarkets.com

The "Saudi Arabia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook - Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

The prepaid card market in Saudi Arabia has exhibited robust growth, reflected by a compound annual growth rate (CAGR) of 6.8% during the period from 2019 to 2023. This upward trend is anticipated to continue, with projections suggesting an 8.8% CAGR from 2024 to 2028, expecting the market to surge to US$11.30 billion by the end of the forecast period. Factors spearheading this expansion include strategic partnerships and the proliferation of financial technology solutions focused on digital payments.

Strategic Partnerships and Competitive Landscape

Strategic collaborations between payment solution providers are reinforcing the growth of the market. These alliances are bringing forth innovative prepaid card offerings, thereby enriching the competitive landscape. Furthermore, regional fintech companies are entering the market with novel prepaid card and digital wallet services, contributing to the industry's vigorous expansion.

Consumer Behavior and Digital Wallet Adoption

An analysis of consumer behavior and retail spending patterns shows a shift towards digital payment methods, with a notable increase in transactions through digital wallets. The data indicates a widening acceptance of digital payment platforms across various consumer segments, including retail and corporate sectors.

Regional Expansion and Product Offerings

Regional fintech players are scaling their operations, capitalizing on the burgeoning demand for digital payment solutions in the Kingdom and across the broader region. The entry of new services in the prepaid card issuance domain reflects a strategic initiative to leverage the shifting landscape toward a card-based economy. This is evident through the introduction of various services such as virtual cards, card personalization, and integrated loyalty programs.

Implications on the Prepaid Payment Instruments Landscape

The engagement in the card issuance sector and the development of super apps tailored for the Saudi market serve to enhance the utility and convenience for consumers, including the significant expatriate population in the Kingdom. These advancements are expected to significantly contribute to the growth of the prepaid card and digital wallet market in Saudi Arabia.

The data presented offers comprehensive insights into the market dynamics of prepaid cards and digital wallets, elucidating the size, structure, and consumer trends that are pivotal in understanding the market's trajectory for stakeholders and investors within the digital payments ecosystem.

Report Scope

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Saudi Arabia.

With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics:

• Saudi Arabia Prepaid Payment Instrument Market Size and Forecast
• Saudi Arabia Digital Wallet Market Size and Forecast
• Saudi Arabia Digital Wallet Market Size and Forecast by Key Segments
• Saudi Arabia Digital Wallet Spend by Key Retail Categories
• Saudi Arabia Prepaid Card Industry Market Attractiveness
• Market Share Analysis by Functional Attributes - Open Loop vs. Closed Loop
• Saudi Arabia Open Loop Prepaid Card Future Growth Dynamics
• Saudi Arabia Closed Loop Prepaid Card Future Growth Dynamics
• Saudi Arabia Prepaid Card Market Share by Key Players
• Saudi Arabia Prepaid Card Consumer Usage Trends
• Saudi Arabia Prepaid Card Spend by Key Retail Categories
• Saudi Arabia General Purpose Prepaid Card Market Size and Forecast
• Saudi Arabia Gift Card Market Size and Forecast
• Gift Card Market Size and Forecast by Functional Attribute
• Gift Card Market Size and Forecast by Consumer Segments
• Gift Card Market Share Analysis by Retail Categories
• Gift Card Market Share Analysis by Gifting Occasion
• Gift Card Market Share Analysis by Purchase Location
• Saudi Arabia Entertainment and Gaming Prepaid Card Market Size and Forecast
• Saudi Arabia Teen and Campus Prepaid Card Market Size and Forecast
• Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
• Saudi Arabia Business and Administrative Expense Prepaid Card Market Size and Forecast
• Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
• Saudi Arabia Payroll Prepaid Card Market Size and Forecast
• Payroll Prepaid Card Market Size and Forecast by Consumer Segments
• Saudi Arabia Meal Prepaid Card Market Size and Forecast
• Meal Prepaid Card Market Size and Forecast by Consumer Segments
• Saudi Arabia Travel Forex Prepaid Card Market Size and Forecast
• Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
• Saudi Arabia Transit and Tolls Prepaid Card Market Size and Forecast
• Saudi Arabia Healthcare and Wellness Prepaid Card Market Size and Forecast
• Saudi Arabia Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
• Saudi Arabia Fuel Prepaid Cards Market Size and Forecast
• Saudi Arabia Utilities, and Other Prepaid Cards Market Size and Forecast
• Saudi Arabia Virtual Prepaid Card Industry Market Attractiveness
• Saudi Arabia Virtual Prepaid Card Market Size and Future Growth Dynamics by Key Categories

For more information about this report visit https://www.researchandmarkets.com/r/ffcq6c

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606108644/en/