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

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:

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:

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.

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.