POS weekly transactions hit SAR 15.2B: SAMA

The number of POS transactions reached about 227.8 million last week, compared to nearly 192.1 million in the previous week, according to data issued by SAMA.

POS transactions represent consumer expenditures through debit and credit cards at major shopping centers, retail outlets, pharmacies, and others.

The data indicated that POS sales increase 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 that precede the disbursement of salaries and the weeks that coincide with the back-to-school season.

Using the four-week moving average, the value of POS transactions rose in 2024, compared to both 2022 and 2023. In 2024, the average sales value ranged between SAR 11 billion and SAR 14 billion, up from SAR 10 billion to SAR 13 billion in 2023 and SAR 9 billion to SAR 12 billion in 2022.

Consumer spending was concentrated in the food and beverage (F&B) sector, totaling SAR 2.53 billion, or 16.7% of this week’s total. The restaurants and cafes sector followed closely with SAR 2.13 billion (14%), as detailed below:

Riyadh led by region in terms of POS transaction value for the week ended Nov. 2, reaching approximately SAR 5.1 billion, or 33.7% of the total. Jeddah followed with SAR 1.9 billion (12.8%), as detailed below:

According to SAMA’s latest data, e-payments in the retail sector (individuals) reached 70% of the total transactions carried out by individuals in the Kingdom during 2023. This achieved the target entailed under the state’s Financial Sector Development Program—a Vision 2030 program, which aimed 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 adopting e-payment methods. This was a result of the many 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 options in the Kingdom.