Saudi Arabia Cards and Payments Market Overview: Driving Forces Behind Rapid Growth & Expansion

How Big is the Saudi Arabia Cards and Payments Market?

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 growth of Cards and Payments in Saudi Arabia is spurred by the government's concerted efforts to enhance digital infrastructure through technological advancements. Seeking to diversify the economy from its reliance on oil, the government has initiated investment plans aimed at improving residents' quality of life by developing leisure facilities, attractions, and infrastructure across the country.

Market Statistics

Market Growth Rate (CAGR): 8.5% from 2024-2030

✅In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2025 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.

If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/saudi-arabia-cards-payments-market.html

Saudi Arabia Cards and Payments Market Insight:

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 report has segmented the market into the following categories:

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
- E-Commerce Payments
- Payments at POS Terminals

By Transaction Type

Domestic
Foreign

By Application

Food & Groceries
Health & Pharmacies
Travel & Tourism
Hospitality
Others (Media & Entertainment, etc.)

By Institution Type

Financial
Non-Financial

By Region

Central
East
West
South

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/saudi-arabia-cards-payments-market.html

Competitive Landscape:

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.

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

*Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*

Key Highlights of the Report:

Market Performance (2024-2030)
Strategic Recommendations
Current, Historical and Future Market Trends
Market Drivers and Leading Competitor
SWOT Analysis
How Big is the Saudi Arabia Cards and Payments Market?
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 growth of Cards and Payments in Saudi Arabia is spurred by the government's concerted efforts to enhance digital infrastructure through technological advancements. Seeking to diversify the economy from its reliance on oil, the government has initiated investment plans aimed at improving residents' quality of life by developing leisure facilities, attractions, and infrastructure across the country.
Market Statistics
- Market Growth Rate (CAGR): 8.5% from 2024-2030
✅In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2025 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.
If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/saudi-arabia-cards-payments-market.html
Saudi Arabia Cards and Payments Market Insight:
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 report has segmented the market into the following categories:
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
  - E-Commerce Payments
  - Payments at POS Terminals
By Transaction Type
- Domestic
- Foreign
By Application
- Food & Groceries
- Health & Pharmacies
- Travel & Tourism
- Hospitality
- Others (Media & Entertainment, etc.)
By Institution Type
- Financial
- Non-Financial
By Region
- Central
- East
- West
- South
Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/saudi-arabia-cards-payments-market.html
Competitive Landscape:
- 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.
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
*Reports Delivery Format - Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*
Key Highlights of the Report:
- Market Performance (2024-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
Other Report:
About Us –
We are a leading market research company, 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.
Contact Us –
Call +1 628 895 8081, +91 120 4278433
Email: [email protected]Structure of the Market
Comprehensive Mapping and Recent Advancement

Other Report:

About Us –

We are a leading market research company, 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.

Contact Us –

Call +1 628 895 8081, +91 120 4278433

Email: [email protected]