GCC P2P Payment Market Size, Share, Growth & Report 2030

GCC P2P Payment Market Research Report: Forecast (2024-2030)

GCC P2P Payment Market Report - By Transaction Mode (Short Message Service (SMS), Mobile Apps, Smartcard/NFC (Near field communication), Others (Bank Transfers, Digital Wallets, et......c.)), By Location (Remote Payment, Proximity Payment), By End User (Retail & E-Commerce, Travel & Hospitality, Transportation & Logistics, BFSI, Healthcare, Others (IT & Telecom, Media & Entertainment, etc.)), and Others Read more

FinTech
Feb 2024
Pages 153
Report Format: PDF, Excel, PPT

Market Definition

Peer-to-peer (P2P) payment is a type of online transacting method used by end users for various financial transaction purposes. It serves as an instant payment, cross-border business transactions, decentralized processes, etc. This involves the integration of digital technologies into all areas of the organization, which helps in increasing the volumes of transaction process fast, convenient, and smooth via the Internet.

Market Insights & Analysis: GCC P2P Payment Market (2024-30):

The GCC P2P Payment Market is estimated to grow at a CAGR of around 8.68% during the forecast period, i.e., 2024-30. The prevalence of smartphones, fast internet connectivity, and sophisticated mobile apps has resulted in the widespread acceptance of convenient digital payment alternatives in the Gulf Cooperation Council (GCC) region. The tech-savvy population in the region shows a greater inclination towards utilizing digital platforms for financial transactions, contributing to the expansion of digital payment services. For instance:

In 2024, AEP Al Etihad Payments, a subsidiary of the Central Bank of the UAE, announced the launch of Aani, a key initiative under the CBUAE's Financial Infrastructure Transformation (FIT) program, signals a new era of seamless, secure, and instant digital payments

Report Coverage	Details
Study Period	Historical Data: 2019-22
	Base Year: 2023
	Forecast Period: 2024-30
CAGR (2024-2030)	8.68%
Country Covered	Saudi Arabia, The UAE, Qatar, Kuwait, Oman, Bahrain
Key Companies Profiled	Paypal, Apple Pay, Venmo, Cash App, Google Pay, Square Cash, Zelle, Noon Pay, Mamo Pay, Ziina Pay, MoneyGram International, Inc., Beyon Money, Others
Unit Denominations	USD Million/Billion

These platforms are being designed to transform the existing payment gateway leads to an advanced customer payment journey and improved user experience. Moreover, the governments of GCC nations are actively endorsing digitalization & smart city projects, which involve establishing strong digital infrastructure, regulatory structures, and incentives to stimulate the adoption of digital payments. Hence, this supportive governmental stance has created a favorable atmosphere for the flourishing Digital Payment Market, leading to tremendous growth in the forthcoming years as well.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
GCC P2P Payment Market Trends & Developments
GCC P2P Payment Market Dynamics
1. Drivers
2. Challenges
GCC P2P Payment Market Hotspot & Opportunities
GCC P2P Payment Market Regulations & Policy
GCC P2P Payment Market Outlook, 2019-2030
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Transaction Mode
    1. Short Message Service (SMS)- Market Size & Forecast 2019-2030, (USD Million)
    2. Mobile Apps- Market Size & Forecast 2019-2030, (USD Million)
    3. Smartcard/NFC (Near field communication)- Market Size & Forecast 2019-2030, (USD Million)
    4. Others (Bank Transfers, Digital Wallets, etc.)- Market Size & Forecast 2019-2030, (USD Million)
  2. By Location
    1. Remote Payment- Market Size & Forecast 2019-2030, (USD Million)
    2. Proximity Payment- Market Size & Forecast 2019-2030, (USD Million)
  3. By End User
    1. Retail & E-Commerce- Market Size & Forecast 2019-2030, (USD Million)
    2. Travel & Hospitality- Market Size & Forecast 2019-2030, (USD Million)
    3. Transportation & Logistics- Market Size & Forecast 2019-2030, (USD Million)
    4. BFSI- Market Size & Forecast 2019-2030, (USD Million)
    5. Healthcare- Market Size & Forecast 2019-2030, (USD Million)
    6. Others (IT & Telecom, Media & Entertainment, etc.)- Market Size & Forecast 2019-2030, (USD Million)
  4. By Country
    1. Saudi Arabia
    2. The UAE
    3. Qatar
    4. Kuwait
    5. Oman
    6. Bahrain
  5. By Competition
    1. Competition Characteristics
    2. Market Share & Analysis
Saudi Arabia P2P Payment Market Outlook, 2019-2030
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Transaction Mode- Market Size & Forecast 2019-2030, (USD Million)
  2. By Location- Market Size & Forecast 2019-2030, (USD Million)
  3. By End User- Market Size & Forecast 2019-2030, (USD Million)
The UAE P2P Payment Market Outlook, 2019-2030
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Transaction Mode - Market Size & Forecast 2019-2030, (USD Million)
  2. By Location - Market Size & Forecast 2019-2030, (USD Million)
  3. By End User- Market Size & Forecast 2019-2030, (USD Million)
Qatar P2P Payment Market Outlook, 2019-2030
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Transaction Mode - Market Size & Forecast 2019-2030, (USD Million)
  2. By Location - Market Size & Forecast 2019-2030, (USD Million)
  3. By End User- Market Size & Forecast 2019-2030, (USD Million)
Kuwait P2P Payment Market Outlook, 2019-2030
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Transaction Mode - Market Size & Forecast 2019-2030, (USD Million)
  2. By Location - Market Size & Forecast 2019-2030, (USD Million)
  3. By End User- Market Size & Forecast 2019-2030, (USD Million)
Oman P2P Payment Market Outlook, 2019-2030
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Transaction Mode - Market Size & Forecast 2019-2030, (USD Million)
  2. By Location - Market Size & Forecast 2019-2030, (USD Million)
  3. By End User- Market Size & Forecast 2019-2030, (USD Million)
Bahrain P2P Payment Market Outlook, 2019-2030
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Size & Analysis
  1. By Transaction Mode - Market Size & Forecast 2019-2030, (USD Million)
  2. By Location - Market Size & Forecast 2019-2030, (USD Million)
  3. By End User- Market Size & Forecast 2019-2030, (USD Million)
GCC P2P Payment Market Key Strategic Imperatives for Growth & Success
Competition Outlook
1. Company Profiles
  1. Paypal
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Apple Pay
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Venmo
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. Cash App
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Google Pay
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Square Cash
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Zelle
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Noon Pay
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Mamo Pay
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. Ziina Pay
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  11. MoneyGram International, Inc.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  12. Beyon Money
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  13. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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