Emerging Opportunities in Cards and Payments Industry in Oman

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Emerging Opportunities in Cards and Payments Industry in Oman

  1. 1. Emerging Opportunities in Omans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape Synopsis The report provides market analysis, information and insights into Oman’s cards and payments market, including: Current and forecast values for each category of Oman’s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards Comprehensive analysis of the industry’s market attractiveness and future growth areas Analysis of various market drivers and regulations governing Oman’s cards and payments industry Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market Comprehensive analysis of consumer attitudes and their buying preferences for cards Competitive landscape of Oman’s cards and payments industry Executive summary Steady economic growth, a rise in the volume of the banked population and improvements in payment infrastructure drove the growth of Oman’s card payments channel during the review period (2008–2012). In terms of the volume of cards in circulation, Oman’s card payments channel posted a review-period CAGR of 14.26%. This was mainly driven by growth in the credit and charge card categories. The total volume of cards in circulation increased from 1.9 million cards in 2008 to 3.3 million in 2012. Over the forecast period (2013–2017), the card payments channel is forecast to grow at a CAGR of 5.22%, from 3.6 million cards in 2013 to 4.4 million in 2017. Although cash continues to be an important part of the overall payments system, it is increasingly being displaced by the card payments channel. To capitalize on consumer preferences, banks and card issuers have adopted various marketing strategies to encourage customers to increase card payments. Common strategies include offers, product discounts, reward points and insurance coverage. Banks are also rewarding their customers through monthly raffle draws. One such innovative program is HSBC’s Mandoos Savings scheme under which its cardholders are rewarded certain cash prizes for maintaining a minimum balance on their saving accounts. Scope This report provides a comprehensive analysis of Oman’s cards and payments industry It provides current values for Oman’s cards and payments industry for 2012 and forecast figures for 2017 It details the different macroeconomic, infrastructural, consumer and business drivers affecting Oman’s cards and payments industry It outlines the current regulatory framework in the industry It details the marketing strategies used by various bankers and other institutions It profiles the major banks in Oman’s cards and payments industry Reasons to buy Make strategic business decisions using historic and forecast market data related to Oman’s cards and payments industry and each market within it Understand the key market trends and growth opportunities within Oman’s cards and payments industry Assess the competitive dynamics in Oman’s cards and payments industry Gain insights into the marketing strategies used for selling various types of cards in Oman Gain insights into key regulations governing Oman’s cards and payments industry Emerging Opportunities in Omans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Lan
  2. 2. Key highlights In terms of the volume of cards in circulation, Oman’s card payments channel recorded a CAGR of 14.26% during the review period. In terms of transaction value, the channel increased from OMR2.4 billion (US$6.3 billion) in 2008 to OMR3.6 billion (US$9.4 billion) in 2012. The volume of POS terminals grew at a review-period CAGR of 16.11%, from 5.1 million point-of-sale (POS) terminals in 2008 to 9.2 million in 2012. The increased acceptance of cards at merchant outlets and an overall shift towards card payments through POS terminals resulted in an increased transaction volume. Oman’s rising volume of internet users is attracting a greater volume of broadband service providers; this has led to an increase competition and a reduction in prices. In 2012, 4G services were launched. E-payments are gaining momentum as broadband is made available at lower prices. Although cash continues to be an important part of the overall payments system, it is increasingly being displaced by the card payments channel. To capitalize on consumer preferences, banks and card issuers have adopted various marketing strategies to encourage customers to increase card payments. Common strategies include offers, product discounts, reward points and insurance coverage. table Of Contents 1 Executive Summary 2 Market Attractiveness And Future Prospects Of The Cards And Payments Industry 3 Analysis Of Oman Cards And Payments Industry Drivers 3.1 Infrastructure Drivers 3.1.1 Increasing Volume Of Internet Users 3.1.2 Interconnected Payment Infrastructure Driving The Card Usage 3.1.3 Contactless Technology 3.1.4 Growing Volume Of Atms 3.1.5 Increasing Volume Of Pos Terminals 3.2 Business Drivers 3.2.1 Growing Retail Sector Encouraging Retail Mall Expansion 3.2.2 E-commerce Gaining Momentum Due To Favorable Economic Conditions 3.2.3 Growth In Mobile Commerce 3.3 Consumer Drivers 3.3.1 Increasing Disposable Income 3.3.2 Consumer Confidence To Drive Card Payments 3.3.3 Urbanization 3.4 Macroeconomic Drivers 3.4.1 Stable Gdp Growth 3.4.2 Increasing Per Capita Income 3.4.3 Declining Unemployment Rate With Increased Government Spending Emerging Opportunities in Omans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Lan
  3. 3. 3.5 Card Fraud Statistics 3.6 Regulatory Framework 4 Emerging Consumer Attitudes And Trends 4.1 Market Segmentation And Targeting 4.1.1 Retail Segment 4.1.2 Corporate Segment 4.2 Consumer Preference 4.2.1 Price 4.2.2 Services 4.2.3 Convenience 5 Competitive Landscape And Industry Dynamics 5.1 Overview Of Payment Channels 5.1.1 Check Payments 5.1.2 Credit Transfers 5.1.3 Card Payments 5.2 Debit Cards Category Share 5.2.1 By Bank 5.2.2 By Scheme 5.3 Credit Cards Category Share 5.3.1 By Bank 5.3.2 By Scheme 6 Strategies Adopted By Key Operators 6.1 Marketing And Product Strategy 6.1.1 Debit Cards 6.1.2 Credit Cards 6.1.3 Prepaid Cards 6.2 Pricing Strategies 7 Size And Growth Potential Of Card Payments Channel 7.1 Category Share Analysis By Type Of Cards 7.2 Total Channel Size And Forecast Of Card Payments Channel 7.2.1 Analysis By Volume Of Cards 7.2.2 Analysis By Transaction Value 7.2.3 Analysis By Transaction Volume 7.3 Debit Cards Category Size And Forecast 7.3.1 Analysis By Volume Of Cards Emerging Opportunities in Omans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Lan
  4. 4. 7.3.2 Analysis By Transaction Value 7.3.3 Analysis By Transaction Volume 7.3.4 Other Key Performance Indicators 7.4 Charge Card Category Size And Forecast 7.4.1 Analysis By Volume Of Cards 7.4.2 Analysis By Transaction Value 7.4.3 Analysis By Volume Of Transactions 7.4.4 Analysis By Frequency Of Use 7.5 Credit Cards Category Size And Forecast 7.5.1 Analysis By Volume Of Cards 7.5.2 Analysis By Transaction Value 7.5.3 Analysis By Transaction Volume 7.5.4 Other Key Performance Indicators 8 Company Profiles, Product, And Marketing Strategies 8.1 Bank Muscat 8.1.1 Key Financials 8.1.2 Card Portfolio 8.1.3 Strategies 8.2 National Bank Of Oman 8.2.1 Key Financials 8.2.2 Card Portfolio 8.2.3 Strategies 8.3 Bankdhofar 8.3.1 Key Financials 8.3.2 Card Portfolio 8.3.3 Strategies 8.4 Oman Arab Bank 8.4.1 Key Financials 8.4.2 Card Portfolio 8.4.3 Strategies 8.5 Hsbc Bank Oman S.a.o.g 8.5.1 Key Financials 8.5.2 Card Portfolio 8.5.3 Strategies 9 Appendix 9.1 Methodology 9.2 Contact Timetric 9.3 About Timetric 9.4 Timetric’s Services Emerging Opportunities in Omans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Lan
  5. 5. 9.5 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Emerging Opportunities in Omans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Lan

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