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Saudi POS Transactions Surge 37% to SR16 Billion, Driven by Strong Consumer Spending

Prime Highlight:

  1. Saudi Arabia’s point-of-sale (POS) transactions jumped 37% in the week ending of October, reaching SR16.02 billion ($4.27 billion).
  2. The continued rise in digital payments reflects growing consumer confidence and progress toward Vision 2030’s cashless economy goals.

Key Facts:

  1. The number of POS payments increased 19.6% to 254.4 million transactions, marking the fourth consecutive week above the $3 billion level.
  2. Spending rose across major sectors, with food and beverages leading at SR2.66 billion and Riyadh recording the highest regional spending at SR5.46 billion.

Background

Saudi Arabia’s point-of-sale (POS) transactions surged by 37% in the week ending November 1, reaching SR16.02 billion ($4.27 billion), according to data from the Saudi Central Bank (SAMA). This marks the fourth straight week that spending has stayed above the $3 billion level, showing strong consumer activity.

The number of payments also rose 19.6%, totaling 254.4 million transactions compared to 212.7 million in the previous week. The rise reflects growing consumer confidence and the Kingdom’s ongoing move toward digital payments.

Spending rose in most sectors. Freight transport and courier services jumped 90.3%, reaching SR64 million. Education spending increased 82.4% to SR189.4 million. The food and beverages sector had the highest total at SR2.66 billion, up 48.9%, followed by restaurants and cafes, which grew 26.4% to SR1.84 billion.

Clothing and apparel spending climbed 60.3% to SR1.37 billion, and auto rentals increased 41.4% to SR90.2 million. Only books and stationery saw a small dip of 0.4%.

Riyadh led national spending, rising 27.6% to SR5.46 billion. Jeddah followed with SR2.05 billion, and Dammam at SR766 million. Makkah and Madinah also reported strong growth above 35%.

SAMA said the steady rise in POS spending highlights the expansion of electronic payment systems across cities and supports Vision 2030 goals to create a cashless, digitally driven economy.

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