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The United Arab Emirates payment market and its specifics: An interview with Nimish Dwivedi

Author

Listed:
  • Dwivedi, Nimish
  • Bruggink, Diederik

    (Head of Innovation and Payments at ESBG, Belgium)

Abstract

With over 15 mainline card issuers catering to a bankable population of 3.5–4 Million, the United Arab Emirates ( UAE) is one of the most competitive and fastest-growing markets in the region. Mashreq is one of UAE’s leading financial institutions with a large and growing retail presence in the region including the UAE, Egypt, Qatar, Kuwait and Bahrain. It is also a very vibrant and tech-savvy market, with high broadband and smart-phone penetration levels, and one in which new product launches, proposition revamps, co-branded alliances and alternative payment mechanisms, such as mobile wallets and direct debit platforms, are becoming increasingly popular. The key challenge for most players is gaining wallet-share and driving relationship profitability, hence most large issuers and acquirers are also investing heavily in mainstream media. In this interview, Nimish Dwivedi, Head of Payments at Mashreq, explains how Mashreq is using its deep understanding of and insight into customer and market needs, allowing them to release best-in-class products and solutions.

Suggested Citation

  • Dwivedi, Nimish & Bruggink, Diederik, 2016. "The United Arab Emirates payment market and its specifics: An interview with Nimish Dwivedi," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 9(4), pages 213-219, January.
    • Handle: RePEc:aza:jpss00:y:2016:v:9:i:4:p:213-219
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    More about this item

    Keywords

    United Arab Emirates; Mashreq; retail payments; debit cards; credit cards; cash-to-card conversion; NFC payments;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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