New Mastercard study reveals rapid shift toward digital payments in Saudi Arabia

New Mastercard study reveals rapid shift toward digital payments in Saudi Arabia

New Mastercard study reveals rapid shift toward digital payments in Saudi Arabia

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New Mastercard study reveals rapid shift toward digital payments in Saudi Arabia

J.K. Khalil, the country manager for Saudi Arabia, Bahrain and Levant of Mastercard. (Supplied)

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New Mastercard study reveals rapid shift toward digital payments in Saudi Arabia

Up to 77 percent of consumers in the Kingdom spending more money online since the onset of the pandemic

Updated 14 December 2020

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A new Mastercard study on consumer sentiment and spending has revealed the rapid growth of online shopping, with 77 percent of consumers in the Kingdom spending more money online since the onset of the pandemic.

The study provides significant insights into how shoppers are rapidly moving away from cash and opting for contact-free and digital payment experiences. These insights are helping e-retailers and businesses in the Kingdom and across the region, to leverage the shift toward online shopping and to deliver fast, convenient and secure transactions.

The study found that 81 percent of consumers in Saudi Arabia consider price as integral to the decision-making process, as well as speed, with nearly 79 percent, which can often mean the difference between checking out or not. Sixty percent of shoppers said promotions and