Value and Volume of Transactions in Saudi Arabia (2016-2021)
16 June 2022•
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The number of mada (digital/card) POS transactions has grown at a cumulative annual growth rate of 49% since 2016 to 2020. At the end of H1 2021, Saudi Payments Company revealed that the Kingdom achieved more than 2.2 billion POS transactions, valued at over 227 billion riyals.
This means that 2021 projects a 144% growth over 2020. Results also pointed to an overall increase of 310% in payment transactions via smart devices, with over 724 million said transactions in H1 2021 at a total value surpassing 56 billion riyals, representing 1/3rd of all NFC transactions at POS terminals.
In the eCommerce sector, Mada revealed an exponential growth of 450% in the number of shops accepting the Mada ecommerce payment method, reaching more than 28,000 stores in June 2021.
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