GlobalData’s "The Cards and Payments Industry in Bahrain: Emerging Trends and Opportunities to 2021", report provides detailed analysis of market trends in the Bahraini cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, payment cards and checks during the review period (2012-2016). Read More

GlobalData’s ‘Bahrain Cards and Payments – Opportunities and Risks to 2025' report provides detailed analysis of market trends in the Bahraini cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, direct debits, cheques, and credit transfers during the review-period (2017-21e). Read More

The Middle East and Africa Real Time Payments Market is projected to witness substantial growth over the forecast period 2023-2033, registering a CAGR of 13.70%. The market is driven by increasing adoption of digital payments, growing smartphone penetration, and government initiatives to promote financial inclusion. Favorable regulatory frameworks, coupled with rising consumer demand for instant and seamless payments, further contribute to market expansion. Key market players include VISA Inc., Saudi Digital Payment Company, Fawry, Alphabet Inc., Fiserve Inc., Mastercard Inc., CIB Bank, ACI Worldwide Inc., Paypal Holdings Inc., Samsung Corporation, and Denarii Cash. The market is segmented by type of payment into P2P and P2B, and by region into the Middle East and Africa. Saudi Arabia, United Arab Emirates, Israel, Qatar, Kuwait, Oman, Bahrain, Jordan, and Lebanon constitute the key markets in the Middle East. Recent developments include: February 2022 - Accenture has been selected by the Central Bank of the UAE (CBUAE) to lead a consortium of companies to help execute its National Payment Systems Strategy. In collaboration with SIA, now part of Nexi Group, and G42, Accenture aims to build and operate the National Instant Payment Platform (IPP) in the country., August 2021 - Turkish taxi firm, Taxi 724 piloted a software POS (sPOS) solution provided by Payneer Technology. The new technology will enable NFC enabled Android devices to make contactless payments through an app, it will be accompanied by a prepaid card, for making digital payments.. Key drivers for this market are: Increased Smartphone Penetration, Falling Reliance on Traditional Banking; Ease of Convenience. Potential restraints include: , Stringent Regulations in the Payments Industry. Notable trends are: Increased Smartphone Penetration to Drive the Market Growth.

The credit card penetration in the United Arab Emirates was forecast to continuously decrease between 2024 and 2029 by in total 0.4 percentage points. According to this forecast, in 2029, the credit card penetration will have decreased for the sixth consecutive year to 28.44 percent. The penetration rate refers to the share of the total population who use credit cards.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the credit card penetration in countries like Bahrain and Iran.