- Food and beverage category remained the largest in value at SR2.34 billion
- Spending at restaurants and cafes increased by 22.8% to SR1.90 billion
RIYADH: Point of sale transactions in Saudi Arabia reached SR15.6 billion ($4.16 billion) in the week ending Aug. 2, representing a 31.5 percent weekly rise, driven by increased spending across all sectors.
According to the latest data released by the Saudi Central Bank, also known as SAMA, the number of transactions also witnessed a weekly increase of 18.2 percent to reach 244.03 million.
The sustained spending momentum highlights consumer confidence and the ongoing digital transformation of payments, driven by initiatives under the Kingdom’s Vision 2030 strategy.
The food and beverage category remained the largest in value at SR2.34 billion, marking a significant 38.2 percent increase compared to the previous seven days.
Spending at restaurants and cafes also increased by 22.8 percent to SR1.90 billion.
POS activity in the transportation sector saw a rise of 28.2 percent to reach SR1.21 billion, while spending on professional and business services grew by 28.6 percent to SR1.19 billion.
The Saudi Central Bank data further revealed that spending on apparel, clothing, and accessories rose by 49.4 percent to reach SR1.11 billion.
POS transactions in the Kingdom’s gas stations amounted to SR1.09 billion, followed by spending in the health care sector at SR1.02 billion.
The increase marks a key milestone in the nation’s shift toward a cashless economy, aligning with one of the core objectives of the Financial Sector Development Program under Vision 2030.
In April, SAMA said the total number of non-cash retail transactions reached 12.6 billion in 2024, up from 10.8 billion in 2023, reflecting the continued growth and adoption of electronic payment systems across the country.
In its latest report, SAMA said the capital city, Riyadh, led POS transactions, with a value of SR5.08 billion, representing a 17.3 percent increase.
Jeddah followed with a 24.2 percent rise, reaching SR2.11 billion, while Dammam came third with transactions amounting to SR698 million.
POS spending in Makkah increased by 28.9 percent to reach SR 646.01 million.
Transactions in Madinah amounted to SR632.36 million, marking a rise of 33.9 percent compared to the previous week.
In Al-Khobar, POS transactions totaled SR399.83 million, followed by Buraidah at SR365.99 million, and Abha at SR301.68 million.
Source: www.arabnews.com