GCC P2P Payment Market Trend, Development

According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on GCC P2P Payment Market - Industry Trends and Forecast to 2030 and provides a comprehensive analysis of the current and future market conditions. The market research insights offered in this report enhance understanding of the market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, the insights presented in this report simplify the effective marketing of products and services.

GCC P2P Payment Market Analysis and Size

The GCC P2P Payment Market is estimated to grow at a CAGR of around 8.68% during the forecast period, i.e., 2024-30.

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Some of the major players operating in the GCC P2P Payment Market are Paypal, Apple Pay, Venmo, Cash App, Google Pay, Square Cash, Zelle, Noon Pay, Mamo Pay, Ziina Pay, MoneyGram International, Inc., Beyon Money, Others.

GCC P2P Payment Market Growth Driver:

Prospering E-commerce Industry Driving the Rapid Development of Digital Payment in Gulf Countries – The surge in the e-commerce industry in GCC countries like the UAE, Saudi Arabia, Kuwait, Bahrain, etc., is fueling a significant transformation of the consumer experience and prompting the rise of digital payments. Several factors have contributed to the buoyant growth of the e-commerce sector in the region. These include the increasing popularity of social commerce & significant investments in infrastructure, such as efficient fulfillment centers, initiatives by the Dubai Free Zones Council, and strategic partnerships, like the collaboration between Noon.com and eBay.

This further underscores effort to capitalize on the expanding market landscape, setting the stage for a promising future for the e-commerce sector in the UAE and the wider GCC region. These factors led to the increasing demand for online shopping, which fueled a surge in the population of online buyers in the GCC, with the number of online shoppers projected to approach 60%. Further, aiding in thriving the Digital Payment Market across the GCC countries.

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Market Segment and Geographical Analysis

By Transaction Mode

Short Message Service (SMS)- Market Size & Forecast 2019-2030, (USD Million)
Mobile Apps- Market Size & Forecast 2019-2030, (USD Million)
Smartcard/NFC (Near field communication)- Market Size & Forecast 2019-2030, (USD Million)
Others (Bank Transfers, Digital Wallets, etc.)- Market Size & Forecast 2019-2030, (USD Million)

By Location

Remote Payment- Market Size & Forecast 2019-2030, (USD Million)
Proximity Payment- Market Size & Forecast 2019-2030, (USD Million)

By End User

Retail & E-Commerce- Market Size & Forecast 2019-2030, (USD Million)
Travel & Hospitality- Market Size & Forecast 2019-2030, (USD Million)
Transportation & Logistics- Market Size & Forecast 2019-2030, (USD Million)
BFSI- Market Size & Forecast 2019-2030, (USD Million)
Healthcare- Market Size & Forecast 2019-2030, (USD Million)
Others (IT & Telecom, Media & Entertainment, etc.)- Market Size & Forecast 2019-2030, (USD Million)

By Country

Saudi Arabia
The UAE
Qatar
Kuwait
Oman
Bahrain

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