United Arab Emirates (UAE) Cards and Payments – Opportunities and Risks to 2026

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UAE Cards And Payments Market Overview

The UAE cards and payments market size was valued at $119.8 billion in 2022 and is expected to achieve a CAGR of more than 8% during 2022-2026. The payments landscape in the UAE is dominated by cash, which accounted for more than 64% of overall payment transaction volume in 2022e

UAE Cards and Payments Market Outlook, 2022-2026 ($ Billion)

UAE Cards and Payments Market Outlook, 2022-2026 ($ Billion)

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The UAE cards and payments market research report provides detailed analysis of market trends in the UAE’ cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry including credit transfers, cash, cards, direct debits and cheques during the review-period.

Market Size (2022) $119.8 billion
CAGR >8%
Forecast Period 2022-2026
Historical Period 2018-2021
Key Payment Instruments Cards, Credit Transfers, Cash, and Direct Debits
Key Segments Card-Based Payments, Merchant Acquiring, Ecommerce Payments, In-Store Payments, Buy Now Pay Later, Mobile Payments, P2p Payments, Bill Payments, and Alternative Payments.
Leading Players Emirates NBD, Dubai Islamic Bank, FAB, ADIB, Emirates Islamic, ADCB, RAKBANK, HSBC, and Mashreq Bank, among others

UAE Cards and Payments Market Dynamics

The introduction of contactless payments for public transport will further drive payment card growth. In February 2022, Visa partnered with Transport Authority – Government of Ajman to offer contactless Visa card payments for bus fares in the city of Ajman.

In-store purchases have recovered from the adverse impact of COVID-19. To boost spending, retailers are focusing on offering convenient in-store shopping experiences. In August 2022, Virgin Megastore launched self-checkout stores that allow customers to scan product barcodes via the MishiPay Scan and Go app.

UAE Cards and Payments Market Segmentation by Payment Instruments

The key payment instruments in the UAE cards and payments market are cards, credit transfers, cheques, cash, and direct debits. In 2022, cash was the major payment instrument in terms of transaction volume in the UAE cards and payments market.

UAE Cards and Payments Market Analysis by Payment Instruments, 2022 (%)

UAE Cards and Payments Market Analysis by Payment Instruments, 2022 (%)

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UAE Cards and Payments Market Segments

The key segments in the UAE cards and payments market are card-based payments, merchant acquiring, ecommerce payments, in-store payments, buy now pay later, mobile payments, p2p payments, bill payments, and alternative payments.

Alternative payment solutions are being introduced in the UAE. Samsung Wallet was launched in the UAE in November 2022. It enables users to make contactless in-store payments while also supporting online payments. Users can store payment card and loyalty card details within the mobile wallet. Users can scan the front of a card with the app or enter the card details manually. To make a payment, users open Samsung Wallet on their mobile phone and select a saved card. Payments can be authenticated by fingerprint on the home menu.

UAE Cards and Payments Market - Competitive Landscape

Some of the leading players in the UAE cards and payments market are Emirates NBD, Dubai Islamic Bank, FAB, ADIB, Emirates Islamic, ADCB, RAKBANK, HSBC, and Mashreq Bank, among others.

Segments Covered in the Report

UAE Cards and Payments Instruments Outlook (Value, $ Billion, 2018-2026)

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

UAE Cards and Payments Market Segments Outlook (Value, $ Billion, 2018-2026)

  • Card-Based Payments
  • Merchant Acquiring
  • Ecommerce Payments
  • In-Store Payments
  • Buy Now Pay Later
  • Mobile Payments
  • P2P Payments
  • Bill Payments
  • Alternative Payments

Scope

This report provides top-level market analysis, information and insights into the Norwegian cards and payments industry, including:

  • Current and forecast values for each market in UAE’s cards and payments industry, including debit, credit and charge cards.
  • Detailed insights into payment instruments including cards, credit transfers, direct debits, cash, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
  • Ecommerce market analysis.
  • Analysis of various market drivers and regulations governing the Norwegian cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

Reasons to Buy

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

Emirates NBD
Dubai Islamic Bank
FAB
ADIB
Emirates Islamic
ADCB
RAKBANK
HSBC
Mashreq Bank
Standard Chartered
Commercial Bank of Dubai
Citibank
Apple Pay
Google Pay
PayPal
Samsung Pay
Payit
eWallet
Noon Pay
empay
Klip
Beam Wallet
PayBy
Noqodi
American Express
Visa
Mastercard
Diners Club.

Table of Contents

Executive Summary

Market Overview

Payment Instruments

Card-Based Payments

Ecommerce Payments

In-Store Payments

Buy Now Pay Later

Mobile Payments

P2P Payments

Bill Payments

Alternative Payments

Payment Innovations

Job Analysis

Payment Infrastructure and Regulation

Appendix

Frequently asked questions

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