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(MoneyNewsWire.Net, April 30, 2018 ) "Payments Landscape in Oman: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Omani cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including payment cards, credit transfers, direct debit, and cheques during the review-period (2013-17e).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
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Companies mentioned:
Bank Muscat, National Bank of Oman, BankDhofar, Bank Sohar, HSBC, Oman Arab Bank, Alizz Islamic Bank, Visa, Mastercard
This report provides top-level market analysis, information and insights into the Omani cards and payments industry, including -
- Current and forecast values for each market in the Omani cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including payment cards, credit transfers, cheques, and direct debit. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Omani cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
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Scope
- To facilitate mobile-based instant payments, in July 2017 the CBO launched mobile payment clearing and switching system MpClear. The service enables bank customers to transfer funds from their bank accounts using their mobile phone number instead of a bank account number. With MpClear, users can conduct a wide range of payments, including person-to-person, person to business, person to government, business to person, government to person, and business to business.
- To strengthen lending business in Oman, in November 2015 the CBO started allowing non-banking financial companies to issue white-label credit cards in collaboration with domestic banks. Companies can brand white-label cards as their own without investing in the necessary infrastructure. While banks are responsible for administration and settlement processes, the companies are responsible for the cards’ branding and marketing. In January 2018, Taageer Finance announced plans to launch debit cards (in collaboration with Bank Muscat) and credit cards (in collaboration with BankDhofar) during 2018. The move will help consumers who do not have access to formal financial institutions to obtain credit, and is anticipated to drive growth in the credit card market.
- Alternative payments are gradually gaining prominence in Oman, with banks and telecom companies launching services. The latest is the launch of Alizz Wallet by Alizz Islamic Bank in February 2018, allowing customers to make fund transfers using a mobile phone number. Bank Muscat launched its bm Wallet in July 2017, which offers similar fund transfer functionality. In August 2015, Qatar-based telecommunications company Ooredoo launched a mobile carrier billing service called Charge to Mobile in Oman. The service allows Ooredoo users to buy digital products, with the total amount added to the customer’s mobile phone bill.
Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Omani cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Omani cards and payments industry.
- Assess the competitive dynamics in the Omani cards and payments industry.
- Gain insights into marketing strategies used for various card types in Oman.
- Gain insights into key regulations governing the Omani cards and payments industry.
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