Saudi Arabia Prepaid Cards Market 2021 Business Opportunities, Current Trends, Challenges and Forecast 2025

Saudi Arabia Prepaid Cards Market Size and Forecast to 2021 – 2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend Prepaid Cards data that enhances the understanding, scope, and application of this report.

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Market Overview:

Global Prepaid Card Survey, prepaid card market in the Saudi Arabia is expected to grow by 12.0% on annual basis to reach US$ 8,564.3 million in 2021.The prepaid card market expected to grow over the forecast period, recording a CAGR of 10.4% during 2021-2025. The prepaid card market in Saudi Arabia will increase from US$ 7,644.5 million in 2020 to reach US$ 11,376.0 million by 2025.

The growing adoption of prepaid payment instruments such as digital wallets is driving the growth of the prepaid card industry in Saudi Arabia. Moreover, the growth in e-commerce shopping has also supported the adoption of prepaid cards in the country. With more than a year into the global pandemic, the adoption of prepaid payment instruments is rising, and consumer appetite for it is growing fast.

E-commerce transactions driving the growth for prepaid card segment in Saudi Arabia:

E-commerce transactions, especially those in the fashion, electronics, and grocery sectors, have witnessed significant growth over the last few quarters. The region went into various stages of lockdown, therefore, forcing consumers to increase their online spending. This has resulted in growing business for prepaid card services.

For instance, LikeCard, the prepaid card service in Saudi Arabia and other GCC countries, was recording 80,000 purchase orders on a daily basis. Notably, the prepaid card provider has more than 4 million users in the region and has partnered with 70 plus regional and international e-commerce platforms. Moreover, this growing adoption of prepaid payment instruments has also resulted in rising investment opportunities for FinTech prepaid providers. For instance,

Riyadh-based FinTech Hala, which provides financial services to SMEs, including a Mada prepaid card, raised US$6.5 million in March 2021

In January 2021, another Riyadh-based FinTech Hakbah raised US$1.2 million for its alternative savings platform.

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The study objectives of this report are:

To study and analyze the Saudi Arabia Prepaid Cards size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2024, and forecast to 2025.
To understand the structure of Prepaid Cards by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key Saudi Arabia Prepaid Cards manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Prepaid Cards with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Prepaid Cards submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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