IMT, NOVO Branches, IREMIT Services Are Introduced To Cater the Lebanese Financial Needs: Ken Research
According to the research report “The Cards and Payments Industry in Lebanon: Emerging Trends and Opportunities to 2020”, Lebanese payments cards include debit, credit and charge cards and the industry has registered a positive growth in the yesteryears. The payment industry includes check payments and payment cards along with the E-commerce market. The factors affecting the cards and payments industry in Lebanon are increase in consumers’ awareness about electronic payments, the introduction of improved cards and adoption of advanced technologies such as PayWave, PayPass, EVM Technology, and contactless cards. Lebanon ranks seventh among the Middle East and North Africa countries with the frequent use of the payment cards. A rapid growth was observed in the prepaid cards market and the number of cards in circulation in Lebanon is expected to exceed the debit, credit and charge cards. The younger population in Lebanon are targeted with new payment cards offered by Byblos Bank and Blom Bank. Majority of the younger generation in Lebanon make online purchases and are benefitted with the redemption of rewards points offered on the cards.
In Lebanon, the remittance facility utilizes the prepaid cards. A global remittance company named IRemit was introduced in the country and issues the I-remit Visa Prepaid Cards. These cards ensure faster and safer remittance facilities from Lebanon to Philippines. IRemit cards are provided with online payment facilities for utility bills and online shopping. The emerging trend in the payment cards is the introduction of smart cards with contactless technology features. In Lebanon, smart cards with contactless technology were introduced in association with Visa. PayWave and PayPass contactless payment technology cards were launched by Bank Audi and Visa in association with MasterCard. Bank Audi in Lebanon has launched the Tap2pay NFC Mobile Payment services making the consumers phone to be used as a credit card with the contactless technology. These services were launched in partnership with MasterCard and mobile operators Alfa and Touch.
Various strategies are adopted by the Lebanese banks and other institutions to market debit, credit and charge cards. These innovative and technological developments in Lebanon financial sector will witness a drastic growth in the cards and payments industry over the coming years.
To know more, click on the link below:
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
Ken Research is a Global aggregator and publisher of Market intelligence research reports, equity reports, data base directories and economy reports. Our market research reports provides market sizing analysis, insights on promising industry segments, competition, future outlook and growth drivers in the space. The company is engaged in data analytics and aids clients in due-diligence, product expansion, plant setup, acquisition intelligence to all the other gamut of objectives through our research focus.
27A, TOWER B-2, SPAZE I TECH BUSINESS PARK, SOHNA ROAD, SECTOR 49
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release IMT, NOVO Branches, IREMIT Services Are Introduced To Cater the Lebanese Financial Needs: Ken Research here
News-ID: 681060 • Views: 650
More Releases from Ken Research Pvt Ltd
In-depth Analysis of the COVID-19 impact on India Wearable Industry: Ken Researc …
The global outbreak of Covid-19 virus has led to massive disruptions in all industries, especially with sectors which are dependent on imports, especially from China. The looming public health crisis has claimed over 530 thousand lives globally as of 6th July 2020 and apart from that, it continues to pose a threat on the lives, livelihoods and businesses across the world. India is the third worst Covid-19 hit country in the
Saudi Arabia E-Learning Market is expected to reach over USD 1 billion in terms …
The content services market is anticipated to grow with a CAGR of 18.9% and the Technology Services with a CAGR of 23.9% during the forecast period 2020-2025F. Saudi Arabia E-Learning Market is anticipated to witness the entry of large number of global content and technology companies in the next few years. Massive Growth in Population to Drive E-Learning Growth: Saudi Arabia to witness urgent need for e-learning owing to the massive population
Innovative Online Platforms along with Intuitive Sourcing & Strong Logistic Infr …
Apollo Hospitals is betting big on pharmacy business amid a sharp fall in the occupancy rates at its hospitals due to Covid 19. In the March quarter, while the hospital business performance growth was subdued at 4.0% year on year, pharmacy business grew at a strong ~33.0%. Its management has given strong growth guidance for the latter. Virus boosts digital payments in India where cash ban failed. The coronavirus outbreak may
In-Depth Analysis of the COVID-19 Impact on US Agrochemical Market: Ken Research
COVID-19 outbreak has been declared a pandemic by the WHO, causing a huge impact on people’s lives, families, communities and businesses. As of 7th July 2020, US has been lead ing in terms of total number of positive cases registered i.e. over 3.2 million with clusters around New York, Seattle and in the California. The state of New York (which was once stated as the epicenter), now have lowest infections in
More Releases for Lebanon
Lebanon Life Insurance Market 2017-By Various Distribution Channels in the Leban …
WiseGuyReports published new report, titled “Life Insurance in Lebanon Key Trends and Opportunities”. Synopsis 'Life Insurance in Lebanon Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Lebanese life insurance segment, and a comparison of the Lebanese insurance industry with its regional counterparts. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and
The Cards and Payments Industry in Lebanon: Market Research Report
Latest industry research report on: The Cards and Payments Industry in Lebanon | Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts Timetrics 'The Cards and Payments Industry in Lebanon: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Lebanese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments
Lebanon Non-Life Insurance Market Report 2017
WiseGuyReports published new report, titled “Non-Non-Life Insurance in Lebanon Key Trends and Opportunities”. Synopsis 'Non-Non-Life Insurance in Lebanon Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Lebanese non-Non-Life Insurance segment, and a comparison of the Lebanese insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets,
Reinsurance in Lebanon Key Trends and Opportunities to 2020
"The Report Reinsurance in Lebanon Key Trends and Opportunities to 2020 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz" Timetrics 'Reinsurance in Lebanon Key Trends and Opportunities to 2020' report provides detailed analysis of the market trends, drivers and challenges in the Lebanese reinsurance segment. It provides values for key performance indicators such as written premium, reinsurance ceded and reinsurance accepted during
Private by Sanita Runs ‘Private Song’ Contest in Lebanon
(Halat, Lebanon) 16 August 2011 - Private by Sanita is running in Lebanon the ‘Private Song’ contest, an online and offline song guessing and singing game through August 2011. Sanita, leading consumer disposables manufacturer in Lebanon and the Middle East, is a member of INDEVCO Group’s Consumer Products Division. Launched by Private, brand of feminine hygiene products, ‘Private Song’ contest is a 2-part game for all women in Lebanon, aged 13+.
CCT to distribute AOC in Lebanon
Art of Colors (AOC), one of the leading monitor brands in the world has expanded its geographical spread further in Middle East region by appointing the leading distribution company CCT as its authorized distributor for Lebanon. In a recent report, BMI forecasted the size of the Lebanese IT market in 2011 to be US$ 321 million, up from nearly US$ 287 million in 2010. CCT is one of the most respected names