Latest news with #POStransactions
Argaam
a day ago
- Business
- Argaam
POS transactions hit SAR 15.6B last week: SAMA
The point-of-sale (POS) transactions in Saudi Arabia reached nearly SAR 15.6 billion in the week ended May 31, compared to about SAR 11.7 billion a week earlier. The number of POS transactions reached about 238 million last week, compared to nearly 206 million in the previous week, according to data issued by the Saudi Central Bank (SAMA). POS transactions represent consumer expenditure through debit and credit cards at major shopping centers, retail outlets, pharmacies, and others. The data indicated that the value of sales via POS increases in the weeks that coincide with the disbursement of salaries to government employees (the 27th of each month), in addition to the weeks that coincide with school vacations and the weeks preceding Eid Al-Fitr and Eid Al-Adha. On the other hand, the value of sales decreases in the weeks preceding salary disbursement and those coinciding with the start of the back-to-school season. The moving average value of POS transactions stood at about SAR 13.17 billion in 2025. Adopting the four-week moving average, the value of POS transactions soared during 2024 compared to 2023 and 2022. The average value of sales ranged between SAR 11 billion and SAR 14 billion in 2024, compared to SAR 10 billion to SAR 13 billion in 2023 and SAR 9 billion to SAR 12 billion in 2022. For the week ended on May 31, consumer spending was focused on the food and beverage (F&B) at 14.2%, or SAR 2.21 billion, and restaurants & cafes at 13.1% or SAR 2.05 billion. Riyadh led in terms of POS transaction value, with approximately SAR 5.41 billion, representing 34.7% of the total. Jeddah followed with SAR 2.17 billion (13.9%). According to the latest data from the Saudi Central Bank (SAMA), e-payments in the retail (individuals) sector reached 79% of total payments carried out by individuals in the Kingdom during 2024. This achieved the target ratio in the Financial Sector Development Program, one of Vision 2030's programs, which aims to reach an e-payment ratio of 70% by 2025. Over the past few years, Saudi Arabia has witnessed remarkable progress and rapid growth in e-payment adoption, thanks to the myriad strategic efforts and initiatives launched by SAMA, in cooperation with the financial sector, to support the growth of the payments sector and stimulate the use of various e-payment methods in the Kingdom.
Argaam
21-05-2025
- Business
- Argaam
POS transactions reach SAR 12.4B last week: SAMA
The point-of-sale (POS) transactions in Saudi Arabia reached nearly SAR 12.4 billion in the week ended May 17, compared to about SAR 13.1 billion a week earlier. The number of POS transactions reached about 217.6 million last week, compared to nearly 221.1 million in the previous week, according to data issued by Saudi Central Bank (SAMA). POS transactions represent consumer expenditure through debit and credit cards at major shopping centers, retail outlets, pharmacies, and others. The data indicated that the value of sales via POS increases in the weeks that coincide with the disbursement of salaries to government employees (the 27th of each month), in addition to the weeks that coincide with school vacations and the weeks preceding Eid Al-Fitr and Eid Al-Adha. On the other hand, the value of sales decreases in the weeks preceding salary disbursement and those coinciding with the start of the back-to-school season. The moving average value of POS transactions stood at about SAR 13.08 billion in 2025. Adopting the four-week moving average, the value of POS transactions soared during 2024 compared to 2023 and 2022. The average value of sales ranged between SAR 11 billion and SAR 14 billion in 2024, compared to SAR 10 billion to SAR 13 billion in 2023 and SAR 9 billion to SAR 12 billion in 2022. For the week ended on May 17, consumer spending was focused on the food and beverage (F&B) sector, representing 14.6% (SAR 1.80 billion) of last week's total POS transactions, followed by the restaurants and cafes sector at 14.2% (SAR 1.76 billion). Riyadh led in terms of POS transaction value by region, with approximately SAR 4.50 billion, representing 36.4% of the total. Jeddah followed with SAR 1.75 billion (14.1%). According to the latest data from the Saudi Central Bank (SAMA), e-payments in the retail (individuals) sector reached 79% of total payments carried out by individuals in the Kingdom during 2024. This achieved the target ratio in the Financial Sector Development Program, one of Vision 2030's programs, which aims to reach an e-payment ratio of 70% by 2025. Over the past few years, Saudi Arabia has witnessed remarkable progress and rapid growth in e-payment adoption, thanks to the myriad strategic efforts and initiatives launched by SAMA, in cooperation with the financial sector, to support the growth of the payments sector and stimulate the use of various e-payment methods in the Kingdom.
Arab News
07-05-2025
- Business
- Arab News
Saudi POS spending hits $4bn, fueled by increased spending across all sectors
RIYADH: Saudi Arabia's point-of-sale transactions climbed 36.2 percent to SR15.4 billion ($4.1 billion) in the week ending May 3, driven by increased spending across all sectors. The latest data from the Kingdom's central bank, also known as SAMA, showed that education led the growth, registering the largest jump in transaction value, up 74.7 percent to SR239.7 million. The sector also saw a 32.4 percent rise in the number of transactions, reaching 192,000. The clothing and footwear sector followed, recording a 51.2 percent increase in transaction value to SR917.6 million. Telecommunication spending ranked next, rising 45.1 percent to SR136.4 million, with transactions up 37.3 percent to 3.4 million. Food and beverages — the sector with the biggest share of total POS value — recorded a 44.9 percent increase to SR2.4 billion. Transportation spending rose 27.9 percent to SR852 million, while restaurants and cafes saw a 28.8 percent increase, totaling SR2.1 billion and claiming the second-biggest share of this week's POS. The smallest spending gains were on jewelry, rising by 12.6 percent to SR361 million, and construction and building materials, which increased by 13.1 percent to SR354.7 million. The health and public utilities sectors also saw upward changes, increasing by 30.2 percent and 28.8 percent to reach SR953.3 million and SR56.5 million, respectively. Spending on electronics followed the trend, rising 24 percent to SR189.3 million, and recreation and culture edging up by 38.6 percent to SR291.6 million. Miscellaneous goods and services claimed the third-largest share of total transactions value, with an uptick of 41.3 percent to SR1.9 billion. The top three categories — food and beverages, miscellaneous goods and services, and clothing and footwear — accounted for 41.5 percent of the week's total spending, amounting to SR6.4 billion. Geographically, Riyadh dominated POS transactions, with expenses in the capital reaching SR5.2 billion, a 28.5 percent increase from the previous week. Jeddah followed with a 27.2 percent rise to SR2.1 billion, while Dammam ranked third, up 28.1 percent to SR772 million. Hail saw the biggest increase, inching up 60.8 percent to SR268.9 million, followed by Tabuk with a 60.6 percent uptick to SR325.2 million. Hail recorded 4.5 million deals in transaction volume, up 33 percent, while Tabuk reached 5.4 million transactions, rising 29 percent.
