According to Markntel Advisors Report, GCC P2P Payment Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

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.

 

Global GCC P2P Payment Market Research Report & Summary:

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.                    

Time Period Captured in the Report:

• Historical Years: 2019-22
• Base Years: 2023
• Forecast Years: 2024-30

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

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, Others

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What is Included in GCC P2P Payment Market Segmentation?

The GCC P2P Payment Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-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

Explore the Complete GCC P2P Payment Market Analysis Report – https://www.marknteladvisors.com/research-library/gcc-p2p-payment-market.html

Global GCC P2P Payment Market Driver:

GCC P2P Payment Market 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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