‎Consumer spending via POS transactions rises 11% to SAR 105.3 bln in October: SAMA

Saudi Arabia
  • Date: 03-Dec-2022
  • Source: Argaam
  • Sector:Retail
  • Country:Saudi Arabia
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‎Consumer spending via POS transactions rises 11% to SAR 105.3 bln in October: SAMA

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Consumer spending in Saudi Arabia increased 11% to SAR 105.3 billion in October 2022, from SAR 94.75 billion during the same month last year, according to the Saudi Central Bank's (SAMA) monthly bulletin.

Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions and e-commerce sales through "Mada", as the following table shows:

POS transactions rose 18% year-on-year (YoY) to SAR 47.66 billion in October.

Data showed that a total of 669.1 million transactions were processed through 1.38 million POS devices in October.

POS transactions represent what is spent by consumers using their ATM and credit cards in shopping malls, retail stores, pharmacies, etc.

The following table shows the development of POS transactions:

Cash withdrawals saw a decline of 1% YoY to SAR 46.78 billion in October.

These withdrawals were processed from 16,300 ATMs through 134.9 million transactions.

E-commerce sales through Mada cards increased 52% YoY to SAR 10.9 billion in October.

According to SAMA's monthly bulletin, these sales were made through 56.1 million transactions.

E-commerce sales include Mada cards payment and purchase transactions through shopping websites and online applications, but do not include transactions made through Visa, MasterCard and other credit cards.