GCC P2P Payment Market Insights, Share & Growth Trends 2024 to 2030

The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), GCC P2P Payment Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.

GCC P2P Payment Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,

According to the latest report, GCC P2P Payment Market is estimated to grow at a CAGR of around 8.68% during the forecast period, i.e., 2024-30. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.

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What is Included in GCC P2P Payment Market Segmentation?

The report has segmented the market into the following categories:

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)

The expansion of digital payments in the retail and e-commerce sectors has been notable in recent times. The increasing prevalence of online shopping & the widespread adoption of e-commerce platforms have significantly contributed to the surge in digital payment usage in the region. In GCC countries, the ratio of internet users to the population has surged to 98.2%. Consumers are increasingly favoring the convenience & efficiency offered by digital payment methods when making purchases online or in physical retail stores. The integration of digital payment options at checkout counters has become commonplace, which would assist in enhancing the market size.

By Country

- Saudi Arabia

- The UAE

- Qatar

- Kuwait

- Oman

- Bahrain

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Key Factor Driver GCC P2P Payment Industry Growth by 2030

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.

Who are the Key Players Operating in the GCC P2P Payment Industry?

The top companies of the GCC P2P Payment market ruling the industry are: 

• Paypal
• Apple Pay
• Venmo
• Cash App
• Google Pay
• Square Cash
• Zelle
• Noon Pay
• Mamo Pay
• Ziina Pay
• MoneyGram International, Inc.
• Beyon Money

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FAQs (Frequently Ask Questions)

1. What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
2. What are the trends influencing the current scenario of the GCC P2P Payment Market?
3. What are the key factors that would propel and hinder the industry?
4. Which geographical area dominates the GCC P2P Payment industry?
5. Which is the Leading segment in the market?

About US:

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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