Saudi mobile payments rise 210%

Saudi Arabia experienced a significant increase in mobile payments during July, reaching approximately 13,100 riyals per second, representing a 210% rise over the past five years compared to 4,200 riyals in 2021. Digital payments have become an essential part of the economy, with the daily value exceeding one billion riyals. Payment methods have diversified, with a notable increase in reliance on mobile payments, alongside stability in card sales and e-commerce, which recorded a record growth of 26%. This reflects a clear shift in the digital infrastructure and a broadening of electronic payment methods, with transaction volumes continuing to rise and the channels for digital payments becoming increasingly varied.

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