Digital payments in Saudi Arabia rise to 70% of retail transactions

Transactions processed through national payment systems hit 10.8 billion

Exterior of the Saudi Arabian Monetary Authority
The Saudi Central Bank
Light Touch Studio

Digital payments reached 70% of all retail transactions in Saudi Arabia last year, up from 62% in 2022, the Saudi Central Bank (Sama) said yesterday.

Transactions by digital means processed through national payment systems grew by 24% annually to 10.8 billion payments.

Saudi Arabia has been promoting electronic payments as part of its financial sector development programme, part of the country’s Vision 2030 plan to diversify its economy.

The programme’s 2021 charter estimated that digital’s share

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