Bahrain Cards and Payments – Opportunities and Risks to 2027

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Bahrain Cards and Payments Market Report Overview

The Bahrain cards and payments market size is $11.5 billion in 2023. The market is expected to achieve a CAGR of more than 11% during 2023-2027. Cash usage is gradually declining in Bahrain. In contrast, payment card adoption is gradually rising, driven by the combined efforts of the government, private companies, and banks to encourage electronic payments. This is supported by the initiatives of the Central Bank of Bahrain (CBB) to boost electronic payments, including ensuring all point-of-sale (POS) terminals are EMV-compliant and mandating companies to pay wages electronically (via bank accounts and prepaid cards).

Bahrain Cards and Payments Market Outlook, 2023-2027 ($ Billion)

Bahrain Cards and Payments Market Outlook, 2023-2027 ($ Billion)

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The Bahrain Cards and Payments market research report provides a detailed analysis of market trends in the Bahrain cards and payments industry. It provides values and volumes for several key performance indicators in the industry including cards, cash, cards, credit transfers, direct debits, and cheques during the review period. The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values, and volumes during the review period and over the forecast period. It also offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report covers detailed regulatory policy and recent changes in the regulatory structure.

Market Size (2023) $11.5 billion
CAGR (2023-2027) >11%
Forecast Period 2023-2027
Historical Period 2019-2022
Key Payment Instruments ·        Cash

·        Cards

·        Credit Transfers

·        Mobile Wallets

·        Direct Debits

·        Cheques

Key Segments ·        Card-Based Payments

·        E-commerce Payments

·        Alternative Payments

Leading Players ·        VISA

·        Mastercard

·        BBK

·        Ahli United Bank

·        American Express

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Bahrain Cards and Payments Market Dynamics

Banks are launching innovative banking solutions to further increase banking penetration, which in turn boosts debit card holding. In December 2022, Al Salam Bank launched a digital self-service kiosk in Bahrain. The kiosk enables customers to perform a range of financial activities without intervention from the bank’s employees, including opening an account with the bank. As part of this process, the kiosk can also issue debit cards.

Alternative payment solutions are increasingly gaining a foothold in the market. Samsung Wallet is a digital wallet launched in Bahrain in October 2022. It enables consumers to conduct both online and in-store payments using Samsung phones. To make an in-store payment, users open the app, bring the phone in close contact with the POS terminal, and authenticate the transaction via iris, fingerprint, or PIN. As of May 2023, banks that support Samsung Wallet in Bahrain include BBK, Al Salam Bank, and KFH.

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Bahrain Cards and Payments Market Segmentation by Payment Instruments

As of 2023, credit transfer leads the way in terms of transaction value.

The key payment instruments in the Bahrain cards and payments market are cash, cards, credit transfers, mobile wallets, direct debits, and cheques. Credit transfers are widely used by businesses, government entities, and agencies for large-value transactions. Credit transfers are settled through the national real-time gross settlement system, typically on the same business day. The system can process multiple currencies.

Bahrain Cards and Payments Market Segments Analysis by Payment Instruments, 2023 (%)

Bahrain Cards and Payments Market Segments Analysis by Payment Instruments, 2023 (%)

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Bahrain Cards and Payments Market Segments

The key segments in the Bahrain cards and payments market are card-based payments, e-commerce payments, and alternative payments.

E-commerce Payments: Online shopping events such as Black Friday are contributing to ecommerce growth, as is the availability of buy now pay later services for online purchases. For example, buy now pay later provider Tabby enables users to convert online purchases into four interest-free installments at partner merchants.

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Bahrain Cards and Payments Market - Competitive Landscape

Some of the leading players in the Bahrain cards and payments market are:

  • VISA
  • Mastercard
  • BBK
  • Ahli United Bank
  • American Express

Bahrain Cards and Payments Market Analysis by Players, 2023

Bahrain Cards and Payments Market Analysis by Players, 2023

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Segments Covered in the Report

Bahrain Cards and Payments Instruments Outlook (Value, $ Billion, 2019-2027)

  • Cash
  • Cards
  • Credit Transfers
  • Mobile Wallets
  • Direct Debits
  • Cheques

Bahrain Cards and Payments Market Segments Outlook (Value, $ Billion, 2019-2027)

  • Card-Based Payments
  • E-commerce Payments
  • Alternative Payments

Scope

This report provides:

  • Top-level market analysis, information, and insights into the Bahrain cards and payments industry.
  • Current and forecast values for each market in the Bahrain cards and payments industry, including debit, credit, and charge cards.
  • Detailed insights into payment instruments including cards, cash, credit transfers, mobile wallets, direct debits, and cheques. It also includes an overview of the country’s key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the Bahrain cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Bahrain cards and payments industry.

Reasons to Buy

  • Make strategic business decisions, using top-level historical and forecast market data, related to the Bahrain cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Bahrain cards and payments industry.
  • Assess the competitive dynamics in the Bahrain cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Bahrain.
  • Gain insights into key regulations governing the Bahrain cards and payments industry.

NBB
Ahli United Bank
Bahrain Islamic Bank
BBK
Ithmaar Bank
Al Baraka Islamic Bank
Mastercard
Visa
American Express
BisB
HSBC
CBB

Table of Contents

Market Overview

Payment Instruments

Card-Based Payments

Ecommerce Payments

Alternative Payments

Payment Innovations

Job Analysis

Payment Infrastructure and Regulation

Appendix

Frequently asked questions

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