Today: December 1, 2015, 6:44 am

Africa card payment market: Ample opportunities for players willing to invest
Assessing the Payment Landscape in the Middle East and Africa - a new market research report on 2014-04-24 11:37:02
The Middle East and Africa card payment market emains one of the smallest in the world, ahead only of Eastern Europe. The global card market remained dominated in 2012 by the developed regions of North America and Western Europe, which accounted for 56% of the total US$13.8 trillion in global card payment volume. Not surprisingly, the fastest growth is expected in the regions that are largely comprised of emerging markets – Eastern Europe, Latin America, Asia Pacific and the Middle East and Africa. All posted double-digit growth rates in 2012.

Much of the Middle East and Africa remains untouched by traditional financial services, resulting in ample opportunities for both card issuers and operators. The unbanked population is still large in several of these markets, due to the area´s heritage, cultural barriers towards certain products and a fear of card fraud. Although many consumers may have relationships with banking institutions, many of those relationships remain shallow as consumers are more likely to use a debit card for cash withdrawal rather then direct payments for goods or services.

A large swath of the Middle East and Africa remains untouched by traditional financial services, which could mean ample opportunities for card operators and issuers willing to venture into this new frontier for card payments. The region remains hampered by a large unbanked population, cultural barriers regarding certain payment products and inadequate payment infrastructure.

Key Headlines

The Middle East and Africa remains one of the smallest card markets globally, meaning ample opportunities for card players willing to invest in the region.

The region has a strong and persistent cash culture. Even those who do carry a card tend to use it for cash withdrawals rather than direct payments.

The Middle East and Africa region had the highest proportion of the population under the age of 30 as of 2012. For payment players, the youth are often the subset of the population most open to new methods of payment.

Card payments are projected to be the fastest-growing payment method as financial cards grow into a mainstream option across the region, and consumers become increasingly comfortable with the use of such cards.

Mobile has transformed Africa over the last decade, as mobile telephones reached parts of the region that fixed telephone lines never did. The mobile phone has been a leapfrog technology, becoming a lifeline for rural and low-income consumers with no connection to the financial mainstream.

Click for report details: ..

Browse all Finance and Banking Market Research Reports ..

Browse all Finance and Banking Company Profile Reports ..

Browse all Latest Market Research Reports ..

About Us is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles,’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.

Press Information

Published by
Mike King
London: +44 (0) 203 086 8600

# 607 Words
Related Articles
More From Finance
USGFX Anticipates A Rise In Forex Trading [..]
The Shanghai Composite Index has been volatile and at one stage dropped more than 30% from its June 12 peak, [..]
Credit-Yogi Recommends Reputable Debt Solution Companies To [..]
Many people who have poor credit don’t know what to do about it. They realize that their bad credit prevents [..]
Credit-Yogi Reveals Special Considerations for Military Members [..]
No one wants to have their vehicle taken back by their banks. It’s a source of stress for the individual [..]
Credit-Yogi Teaches Consumers How To Use HAMP [..]
Be Prepared to Utilize HAMP Lenders do not like to help borrowers prevent foreclosure by accessing the Obama loan modification [..]
Credit-Yogi Informs Military Members Facing Auto Repossession [..]
No one wants to have their vehicle taken back by their banks. It’s a source of stress for the individual [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.