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
To
Read the Complete Report with TOC Visit:
http://www.marketresearchreports.biz/analysis-details/emerging-opportunities-in-omans-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape
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
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.
Contact
M/s Sheela
90 Sate Street, Suite
700
Albany, NY 12207
USA – Canada Toll
Free: 866-997-4948
No comments:
Post a Comment