Consumer spending via POS transactions jumps 13% to SAR 113.8 bln in March: SAMA

POS device

Consumer spending in Saudi Arabia rose 13% to nearly SAR 113.8 billion in March, from SAR 100.8 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) sales and e-commerce sales through “Mada” as the following table shows:

POS transactions leapt 25% to SAR 51 billion in March from SAR 40.84 billion in the same month last year.

Data showed that a total of 602.2 million transactions were processed through 1.14 million POS devices in March.

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

The following table shows the development of POS transactions:

Cash withdrawals saw a decrease of3% year-on-year (YoY) to SAR 52.8 billion in March.

Compared to February, cash withdrawals in March surged by nearly SAR 11.2 billion, the highest level in one year.

The withdrawals were processed through 16,500 ATMs and through 134.2 million transactions.

E-commerce sales through Mada cards increased to SAR 9.98 billion in March, an 88% increase compared to the same period in 2021.

According to SAMA's monthly bulletin, these sales were made through 47.6 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.