Saudi retail payments mostly electronic

The article reveals that digital payments are playing an increasingly important role in the Saudi economy, now accounting for approximately 85% of retail transactions, with ongoing growth accompanying the expansion of the tourism and entertainment sectors. The average expenditure per visitor during their trip to Saudi Arabia is around 10,405 riyals, covering expenses such as accommodation, transportation, food, travel experiences, and entertainment. This growth reflects changing consumer behaviors and their demand for easy, secure digital experiences, opening new opportunities for digital payments in tourism, small businesses, and e-commerce, with expectations of further expansion in the future. Additionally, Saudi Arabia is witnessing a rise in electronic payment volume, reaching 14.6 billion transactions in a short period, as the digital financial system continues to evolve to support economic prosperity.

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