‎User spending by POS transactions jumps 13% to SAR 113.8 bln in March: SAMA

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User spending in Saudi Arabia rose 13% to virtually SAR 113.8 billion in March, from SAR 100.8 billion sooner or later of the identical month last year, basically basically basically based on the Saudi Central Financial institution’s (SAMA) monthly bulletin.

User spending contains total cash withdrawals, point-of-sale (POS) sales and e-commerce sales thru “Mada” because the next desk reveals:

User Spending (SAR bln)

Month

2021

2022

Commerce

January

93.62

97.61

+ 4%

February

80.23

88.57

+ 10%

March

100.81

113.81

+ 13%

April

96.07

May perchance also

95.53

June

91.33

July

93.42

August

94.65

September

92.71

October

94.75

November

95.02

December

101.36

POS transactions leapt 25% to SAR 51 billion in March from SAR 40.84 billion in the identical month last year.

Files showed that a total of 602.2 million transactions were processed thru 1.14 million POS gadgets in March.

POS transactions signify what is spent by customers the utilization of their ATM playing cards and credit playing cards in making an are attempting malls, retail stores, pharmacies, etc.

The following desk reveals the enchancment of POS transactions:

POS Transactions (SAR bln)

Month

2021

2022

Commerce

January

37.27

43.56

+17%

February

31.05

38.88

+25%

March

40.84

51.00

+25%

April

39.17

May perchance also

40.27

June

38.70

July

38.85

August

40.97

September

40.00

October

40.47

November

41.28

December

44.37

Cash withdrawals seen a lower of3% year-on-year (YoY) to SAR 52.8 billion in March.

When put next to February, cash withdrawals in March surged by virtually SAR 11.2 billion, the highest level in 365 days.

The withdrawals were processed thru 16,500 ATMs and thru 134.2 million transactions.

ATM Withdrawals (SAR bln)

Month

2020

2021

Commerce

January

51.97

45.82

(12%)

February

45.01

41.67

(7%)

March

54.66

52.83

(3%)

April

51.35

May perchance also

49.52

June

46.74

July

48.24

August

46.81

September

45.69

October

47.11

November

46.02

December

48.83

E-commerce sales thru Mada playing cards increased to SAR 9.98 billion in March, an 88% elevate when in contrast with the identical duration in 2021.

Per SAMA’s monthly bulletin, these sales were made thru 47.6 million transactions.

E-commerce sales encompass Mada playing cards price and rob transactions thru making an are attempting web sites and on-line functions, but attain no longer encompass transactions made thru Visa, MasterCard and varied credit playing cards.

Sales By means of Mada Cards (SAR bln)

Length

2021

2022

Commerce

January

4.38

8.23

+88%

February

4.17

8.02

+92%

March

5.31

9.98

+88%

April

5.56

May perchance also

5.74

June

5.89

July

6.33

August

6.87

September

7.02

October

7.17

November

7.72

December

8.16