Infographic: The Adoption Of Digital Payments In Saudi Arabia

Infographic: The Adoption Of Digital Payments In Saudi Arabia

As part of Vision 2030, the Saudi government has set a target of achieving 70% cashless payments by 2030. The Kingdom has done so well on working towards this target, that some claim they are aiming to achieve this target by 2025.

This means that the government wants 70% of all transactions to be conducted digitally, without the exchange of physical cash. In 2021, Saudi Payments collaborated with IBM and Mastercard to launch instant payments system "Sarie" leading to adoption of faster payments, in line with Vision 2030's cashless aims.

Image courtesy Lucidity Insights.