7 Hrs
Source:
الاقتصادية
Saudi mobile payments surge 210 percent
Mobile payments in Saudi Arabia experienced a significant surge last July, with their value increasing by 210% over five years, reaching 13,100 riyals per second compared to 4,200 riyals in 2021. During this period, the value of payments steadily grew, coinciding with an expanded reliance on digital payment methods and increased mobile usage in financial transactions. Data also revealed that total mobile payments in July amounted to approximately 34 billion riyals. Meanwhile, electronic payment transactions continued to grow, with e-commerce sales reaching a record high of 37.6 billion riyals, marking a 26% year-over-year increase.
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