An ultimate guide to fintech in the Kingdom of Saudi Arabia

Credit Card Penetration Rate (2017)

Credit Card Penetration Rate (2017)

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Currently the Saudi eCommerce market stands at $6.6 billion USD, and by the end of 2024, it is expected to reach $8 billion USD. This is foundational for the growth of fintechs in the region, especially as digital payments is the largest segment of fintech that is pushing the industry forward.

e-Commerce Revenue Growth by Sector ($M)

Saudi Arabia is ranked 60th in the world for bank account penetration rate (out of 195 Countries). The Kingdom ranks just above the world average in bank account penetration, with 72% of the population having access to banking and financial services (note: the survey was last conducted in 2017). In the Middle East region, Saudi Arabia ranks 7th, behind Iran, Israel, UAE, Bahrain, Kuwait, and Oman.&nbsp;

Credit Card Penetration Rate (2017)

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