Saudi Arabia Cards and Payments Market Analysis and Forecast, 2024-2030

According to the latest market research report title “Saudi Arabia Cards and Payments Market Saudi Arabia Cards and Payments Market- By Type of Cards (Debit Cards, Fleet/Fuel Cards, ATM Cards, Prepaid Cards, Credit Cards), By Type of Payment Instrument (Cards, Mobile Wallets , Credit Transfers, Cash, Debit Cards, Checks), By Type of Payments (B2B, B2C, C2C, C2B), By Transaction Type (Domestic, Foreign), By Application (Food & Groceries, Health & Pharmacies, Travel & Tourism, Hospitality, Othersz), By Institution Type Financial, Non-Financial, and others–Forecast to 2030″, published by MarkNtel Advisors, The Saudi Arabia Cards and Payments Market is estimated to grow at a CAGR of around 8.5% during the forecast period, 2024-30.

The data present in the report exhibit from the historic years (2019-22) and the base year (2023) to put together estimations for the forecast period (2024-30). In the study, our researchers put together reliable, unbiased, and accurate data to enlighten investors about fluctuations in the industry & anticipations on what to expect in the future. Since the industry is dynamic and highly fragmented, this report enables the prominent players to make strategic moves associated with their investments in the coming years.

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Saudi Arabia Cards and Payments Market Driver:

Growing Digital Adoption by Medium-scale & Large-scale Enterprises to Augment the Market – Saudi Arabia is an oil-rich country, and to diversify its financial resources, the government has laid down plans such as investment in construction projects, facilitation of public-private partnerships, and adoption of technologies to improve the digital infrastructure. Also, the country’s government has introduced Vision 2030, which aims to promote the adoption of digital payments, including e-wallets, credit cards, and debit cards, to enhance the country’s digital economy. Thus, this government-led vision has led medium-scale enterprises like prominent fast food outlets, hotels, etc., to accept digital payments via cards & wallets.

Further, the bankable population of Saudi Arabia has also expanded over the past few years. As a result, the surge in consumers opting for conventional digital payment methods is enhancing. According to the King Khalid Foundation, in 2022, 72% of the population in Saudi Arabia possessed bank accounts. Therefore, the growing bankable population & the digital adoption by different sectors are amplifying the demand for cards & payment in Saudi Arabia.

Saudi Arabia Cards and Payments Market Segmentation

The Saudi Arabia Cards and Payments Market is highly robust and fragmented into numerous segments;

By Type of Cards

-Debit Cards

-Fleet/Fuel Cards

-ATM Cards

-Prepaid Cards

-Credit Cards

By Type of Payment Instrument


-Mobile Wallets

-Credit Transfers


-Debit Cards


By Type of Payments





–E-Commerce Payments

–Payments at POS Terminals

By Transaction Type



By Application

-Food & Groceries

-Health & Pharmacies

-Travel & Tourism


-Others (Media & Entertainment, etc.)

By Institution Type



By Region





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Key Players Operating in the Saudi Arabia Cards and Payments Market: –

-Saudi National Bank SNB

-The Al Rajhi Bank

-Alawwal Bank

-Banque Saudi Fransi

-Riyad Bank

-Arab National Bank

-Bank Al Jazira

-Bank Al Bilad

-Saudi Investment Bank

-Alinma Bank

Key Questions Answered:

  • What is the projected CAGR of the Saudi Arabia Cards and Payments Market during the forecast period?
  • Which segment is expected to lead the Saudi Arabia Cards and Payments Market?
  • Who are the prominent players driving market growth?

Key Offerings:

  • Market Share, Size, and Revenue Forecast
  • Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
  • Landscape: Leading key players and other prominent participants

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfilled their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.

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