Saudi e-commerce thrives as sales using Mada cards reach $3.76bn in February

Saudi e-commerce thrives as sales using Mada cards reach $3.76bn in February

RIYADH: Saudi e-commerce sales using Mada cards reached SR14.11 billion ($3.76 billion) in February – an annual increase of 25 percent, the Kingdom’s central bank has revealed.

This figure includes transactions through online shopping, in-app purchases and e-wallets, and excludes transactions by Visa, MasterCard and other credit cards.

The number of e-commerce transactions also increased by 44 percent on a year-on-year basis to reach more than 84 million in February. Saudi e-commerce thrives as sales using Mada cards reach $3.76bn in February