Emerging Opportunities in Bahrain’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
Rockville, MD (PRWEB) July 03, 2013 -- Emerging Opportunities in Bahrain’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
Steady economic growth, a rise in the banked population, and improvements in payment infrastructure are resulting in the growing popularity of card payments in Bahrain. In terms of number of cards, Bahrain’s card payments channel recorded strong growth at a CAGR of 11.08% between 2008 and 2012. This was mainly driven by growth in the prepaid and debit card categories.
The total number of cards in circulation increased from 654,118 in 2008 to 996,028 in 2012. Over the next 5 years, the card payments channel is forecast to grow at a CAGR of 5.20%, from 1.1 million cards in 2013 to 1.3 million cards in 2017.
The prepaid cards category is growing rapidly in Bahrain. Although prepaid cards held a low share of 8.8% in 2012, they recorded a CAGR of 28.29% in terms of number of cards in circulation between 2008 and 2012. In this period, the number of prepaid cards in circulation grew from 32,321 to 87,558 and is projected to record a CAGR of 17.27% over the next 5 years. The increasing preference for Islamic banking provides high growth potential for prepaid cards as it is compliant with Islamic law with no riba (interest).
The Central Bank of Bahrain (CBB) enforced the adoption of enhanced security standards and compliance with Europay MasterCard Visa (EMV) requirements. Banks in Bahrain have completed migration of their card products from the traditional magnetic stripe to EMV chip technology in accordance with the regulation. As a result, the value of card fraud declined at a CAGR of -2.43%, from BHD384,384 (US$1.0 million) in 2008 to BHD 348,418 (US$932,632) in 2012.
Domestic card issuers dominate the card payment channel, despite intense competition from international companies. These banks are able to dominate due to their large customer bases and innovative product offerings. Domestic banks offer sharia-compliant cards products and attractive reward programs. Such aggressive marketing and product innovation helps domestic card issuers to maintain their dominant position in the market.
Emerging Opportunities in Bahrain’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape – Table of Contents:
1 Executive Summary
2 Industry Attractiveness and Future Prospects of the Cards and Payments Industry
3 Analysis of Bahrain Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 Rising number of internet users
3.1.2 Migration to EMV cards
3.1.3 Increasing number of POS terminals
3.1.4 Growing number of ATMs
3.2 Macroeconomic Drivers
3.2.1 Stable economic growth
3.2.2 Rising young population
3.2.3 Rising disposable income
3.3 Business and Consumer drivers
3.3.1 Retail sales growth
3.3.2 Growing e-commerce
3.3.3 Increasing awareness of m-payment services
3.3.4 Growing expenditure on outbound travel
3.4 Card Fraud Statistics
3.5 Regulatory Framework
4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.1.1 Retail sector
4.1.2 Corporate sector
4.2 Consumer Preference
4.2.1 Price
4.2.2 Service
4.2.3 Convenience
5 Competitive Landscape and Industry Dynamics
5.1 Industry Share Analysis by Payment Channels
5.1.1 Overview of payment channels
5.1.2 Credit transfer
5.1.3 Card payments
5.1.4 Checks
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
5.4 Charge Cards Category Share
6 Strategies Adopted by Key Operators
6.1 Marketing / Product Strategy
6.1.1 Credit cards
6.1.2 Prepaid card
6.2 Pricing Strategies
7 Size and Growth Potential of the Card Payments Channel
7.1 Channel Share Analysis by Category of Card
7.2 Total Size and Forecast of the Card Payments Channel
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Card Category Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Prepaid Card Category Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 Analysis by segment – open and closed-loop cards
7.4.3 Analysis by transaction value
7.5 Charge Card Category Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by number of transactions
7.5.4 Analysis by frequency of use
7.6 Credit Card Category Size and Forecast
7.6.1 Analysis by number of cards
7.6.2 Analysis by transaction value
7.6.3 Analysis by number of transactions
7.6.4 Other key performance indicators
8 Company Profiles, Products and Marketing Strategies
8.1 HSBC Bahrain
8.1.1 Strategies
8.1.2 Credit cards offered
8.2 Standard Chartered Bank Bahrain
8.2.1 Strategies
8.2.2 Credit cards offered
8.3 BMI Bank
8.3.1 Strategies
8.3.2 Debit card offered
8.3.3 Credit cards offered
9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.4 Disclaimer
List of Tables
Table 1: Bahraini Payment Channels Statistics (BHD Million), 2008 and 2012
Table 2: Bahraini Card Payments Channel by Card Category (Thousands), 2008–2017
Table 3: Bahraini Card Payments Channel Size by Number of Cards (Thousands), 2008–2017
Table 4: Bahraini Card Payments Channel Size by Transaction Value (BHD Million), 2008–2017
Table 5: Bahraini Card Payments Channel Size by Transaction Value (US$ Million), 2008–2017
Table 6: Bahraini Card Payments Channel Size by Number of Transactions (Million), 2008–2017
Table 7: Bahraini Debit Card Category Size by Number of Cards (Thousands), 2008–2017
Table 8: Bahraini Debit Card Category Size by Value of Transaction (BHD Million), 2008–2017
Table 9: Bahraini Debit Card Category Size by Value of Transaction (US$ Million), 2008–2017
Table 10: Bahraini Debit Card Category Size by Number of Transactions (Million), 2008–2017
Table 11: Bahraini Debit Card Category by Frequency of Use (Transactions per Card per Year), 2008–2017
Table 12: Bahraini Prepaid Card Category Size by Number of Cards (Thousands), 2008–2017
Table 13: Bahraini Open-Loop Prepaid Cards Segment Size by Number of Cards (Thousands),
Table 14: Bahraini Closed-Loop Prepaid Cards Segment Size by Number of Cards (Thousands),
Table 15: Bahraini Prepaid Cards Category Size by Transaction Value (BHD Million), 2008–2017
Table 16: Bahraini Prepaid Cards Category Size by Transaction Value (US$ Million), 2008–2017
Table 17: Bahraini Charge Card Category Size by Number of Cards (Thousands), 2008–2017
Table 18: Bahraini Charge Card Category Size by Transaction Value (BHD Million), 2008–2017
Table 19: Bahraini Charge Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 20: Bahraini Charge Card Category Size by Number of Transactions, 2008–2017
Table 21: Bahraini Charge Card Category by Frequency of Use (Transactions per Card per Year), 2008–2017
Table 22: Bahraini Credit Card Category Size by Number of Cards (Thousands), 2008–2017
Table 23: Bahraini Credit Card Category Size by Transaction Value (BHD Million), 2008–2017
Table 24: Bahraini Credit Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 25: Bahraini Credit Card Category Size by Number of Transactions (Million), 2008–2017
Table 26: Bahraini Credit Card Category by Frequency of Use (Transactions per Card per Year),
Table 27: Bahraini Credit Card Category Size by Average Transaction Value (BHD), 2008–2017
Table 28: Bahraini Credit Card Category Size by Average Transaction Value (US$), 2008–2017
List of Figures
Figure 1: Bahrain – Growth of Various Card Categories (%), 2008–2017
Figure 2: Current and Future Prospects of Various Card Types in Bahrain
Figure 3: Growth Potential of Bahrain Cards and Payments Industry by Area of Usage
Figure 4: Bahraini Cards and Payments Industry Drivers
Figure 5: Number of Internet Users (Million), 2008–2012
Figure 6: Number of POS Terminals in Bahrain (Thousands), 2008–2017
Figure 7: Number of ATMs in Bahrain, 2008–2017
Figure 8: Bahraini GDP Growth Rate (%), 2008–2017
Figure 9: Bahraini Young Population Aged 15 to 29 Years (Thousand), 2008–2012
Figure 10: Bahraini Annual Disposable Income (BHD Million), 2008–2012
Figure 11: Bahraini Retail Sales Value (US$ Billion), 2008–2012
Figure 12: Bahraini E-commerce Value (US$ Million), 2008–2012
Figure 13: Bahraini Expenditure on Outbound Travel (BHD Million), 2008–2012
Figure 14: Bahraini Card Fraud Value (BHD Million), 2008–2012
Figure 15: Bahraini Card Payments Channel Customer Segmentation and Target Markets
Figure 16: Student Card Offered by CrediMax in Bahrain
Figure 17: Cards Offered Targeting Frequent Flyers in Bahrain
Figure 18: Consumer Preferences on Various Card Categories
Figure 19: Share of Different Payment Channels in Bahrain (%), 2008 and 2012
Figure 20: Bahraini Value of Credit Transfer Transactions (BHD Million), 2008–2012
Figure 21: Bahraini Value of Card Payment Transactions (BHD Million), 2008–2012
Figure 22: Bahraini Value of Check Payments (BHD Million), 2008–2012
Figure 23: Bahraini Debit Cards Category Share by Bank (%), 2011
Figure 24: Bahraini Debit Cards Category Share by Scheme (%), 2011
Figure 25: Bahraini Credit Cards Category Share by Bank (%), 2011
Figure 26: Bahraini Credit Cards Category Share by Scheme (%), 2011
Figure 27: Bahraini Charge Cards Category Share by Scheme (%), 2011
Figure 28: Standard Chartered Falconflyer Co-Branded Cards
Figure 29: BMI Bank’s Cash Prizes Program for Ayadi Credit Cardholders
Figure 30: Charges on Visa Electron Debit Card Offered by BMI Bank in Bahrain
Figure 31: Comparison of Annual Fees on Credit Cards in Bahrain
Figure 32: Bahraini Card Payments Channel by Card Category (%), 2008–2017
Figure 33: Bahraini Card Payments Channel Size by Number of Cards (Thousands), 2008–2017
Figure 34: Bahraini Card Payments Channel Size by Transaction Value (BHD Million), 2008–2017
Figure 35: Bahraini Card Payments Channel Size by Number of Transactions (Million), 2008–2017
Figure 36: Bahraini Debit Card Category Size by Number of Cards (Thousands), 2008–2017
Figure 37: Bahraini Debit Card Category Size by Value of Transaction (BHD Million), 2008–2017
Figure 38: Bahraini Debit Card Category Size by Number of Transactions (Million), 2008–2017
Figure 39: Bahraini Debit Card Category by Frequency of Use (Transactions per Card per Year),
2008–2017
Figure 40: Debit Card Transactions at ATMs and POS Terminals (Million), 2008–2017
Figure 41: Bahraini Prepaid Card Category Size by Number of Cards (Thousands), 2008–2017
Figure 42: Bahraini Open-Loop Prepaid Cards Segment Size by Number of Cards (Thousands),
2008–2017
Figure 43: Bahraini Closed-Loop Prepaid Cards Segment Size by Number of Cards (Thousands),
2008–2017
Figure 44: Bahraini Prepaid Cards Category Size by Transaction Value (BHD Million), 2008–2017
Figure 45: Bahraini Charge Card Category Size by Number of Cards (Thousands), 2008–2017
Figure 46: Bahraini Charge Card Category Size by Transaction Value (BHD Million), 2008–2017
Figure 47: Bahraini Charge Card Category Size by Number of Transactions, 2008–2017
Figure 48: Bahraini Charge Card Category by Frequency of Use (Transactions per Card per Year), 2008–2017
Figure 49: Bahraini Credit Card Category Size by Number of Cards (Thousands), 2008–2017
Figure 50: Bahraini Credit Card Category Size by Transaction Value (BHD Million), 2008–2017
Figure 51: Bahraini Credit Card Category Size by Number of Transactions (Million), 2008–2017
Figure 52: Bahraini Credit Card Category by Frequency of Use (Transactions per Card per Year), 2008–2017
Figure 53: Bahraini Credit Card Category Size by Average Transaction Value (BHD), 2008–2017
Figure 54: HSBC Bahrain – Market Segmentation of Cards Offered
Figure 55: Standard Chartered Bahrain – Market Segmentation of Cards Offered
Figure 56: BMI Bank – Market Segmentation of Cards Offered
To order this report: Emerging Opportunities in Bahrain’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
Contact: Shauna
800.298.5699
customerservice(at)marketresearch(dot)com
About Timetric
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. We provide detailed economic and sector intelligence, business insights and authoritative, independent commentary.
Timetric’s flagship products are economic and industry intelligence centers, which are premium decision tools that provide access to comprehensive research and expert analysis. They provide invaluable decision support presented in easily digestible formats and grounded in deep research.
One of the key components of each of these intelligence centers are the hundreds of high quality research reports across countries, industries and companies, which Timetric produces each year.
These reports draw on in-depth primary and secondary research, proprietary data and high quality modelling and analysis to give you insight into global market and economic dynamics.
About MarketResearch.com
MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world’s most extensive database of expert insights on global industries, companies, products, and trends. Moreover, MarketResearch.com’s Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance. For more information, call Cindy Frei at 240.747.3014 or visit http://www.marketresearch.com
Follow us on Facebook http://www.facebook.com/marketresearchdotcom
Follow us on Twitter http://www.twitter.com/marketresearch_
Cindy Frei, MarketResearch.com, http://www.marketresearch.com/, 240-747-3014, [email protected]
Share this article