Saudi POS Transactions Hit 197 Million Weekly, SAR12 Billion

Saudi Arabia recorded 197.5 million point-of-sale (POS) transactions valued at more than SAR11.99 billion (approximately $3.2 billion) during the week of July 7–13, 2024, according to the weekly POS bulletin issued by the Saudi Central Bank (SAMA). The data, released through official Saudi channels, underscores the continued expansion of digital payments across the Kingdom and reflects the growing strength of its consumer-driven, non-oil economy.

Context and Background

The Saudi Central Bank (SAMA) publishes a weekly POS bulletin that tracks transaction volumes and values across key sectors and cities. These figures serve as a key indicator of domestic economic activity and consumer confidence. The latest reading of nearly 198 million transactions in a single week highlights the rapid adoption of electronic payment methods, a trend accelerated by the Financial Sector Development Program (FSDP), one of the executive programs of Saudi Vision 2030, which aims to increase the share of digital payments to 70% of total transactions by 2025.

This shift is supported by initiatives such as the national payment system mada, expanded acceptance of contactless payments, and mobile wallets. As POS infrastructure has grown, transaction volumes have risen steadily, providing policymakers with near real-time insights into spending patterns.

Key Details

The weekly data shows that Riyadh accounted for the highest value of transactions among cities, with 59.87 million transactions worth SAR3.91 billion, followed by Jeddah with 23.2 million transactions valued at SAR1.71 billion. Other major cities, including Dammam (7.5 million transactions, SAR554.3 million) and Makkah (7.86 million transactions, SAR459.5 million), also contributed significantly to the national total. Transactions in other cities combined reached 70.45 million, valued at SAR3.66 billion.

By sector, restaurants and cafes recorded the highest number of transactions at 55.9 million, worth SAR1.84 billion, reflecting a vibrant hospitality and dining culture. Beverage and food followed with 46.3 million transactions (SAR1.8 billion), while miscellaneous goods and services saw 24.1 million transactions valued at SAR1.57 billion. The gasoline stations sector recorded 15.2 million transactions (SAR841.5 million), and health services registered 7.57 million transactions (SAR775.3 million).

Notably, clothing and footwear recorded 5.4 million transactions valued at SAR677.6 million, indicating strong retail activity. Sectors such as education (102,000 transactions, SAR85.2 million), hotels (803,000 transactions, SAR269.6 million), and jewelry (193,000 transactions, SAR191.7 million) also contributed to the overall figures, demonstrating the diversity of spending across the economy.

Implications and Impact

The sustained growth in POS transactions signals robust domestic consumption and an increasingly cashless society. For businesses, this trend offers opportunities to streamline operations and better understand customer behavior through data analytics. For the government, the shift toward digital payments enhances transparency, supports tax compliance, and informs economic policy.

Moreover, the high volume of transactions in sectors like restaurants, retail, and health underscores the resilience of the private sector and the effectiveness of Vision 2030 reforms aimed at diversifying the economy beyond oil. As Saudi Arabia continues to invest in digital infrastructure and financial technology, POS data will remain a vital barometer of economic health and consumer sentiment.

Vision 2030 Alignment

This milestone aligns directly with Saudi Vision 2030, particularly the Financial Sector Development Program’s goal of building a diversified and effective financial sector. By promoting digital payments and reducing reliance on cash, the Kingdom is advancing its ambition to become a global leader in financial innovation and economic modernization. The growth in POS transactions also supports broader objectives of enhancing the quality of life for citizens and residents, boosting private sector competitiveness, and attracting international investment. As Saudi Arabia continues its transformation, such data points reaffirm the Kingdom’s steady progress toward a prosperous and digitally empowered future.

20 Questions

Q1. What was the total number of POS transactions in Saudi Arabia during the week of July 7–13, 2024?

A1. The total number of POS transactions reached 197,524,000, reflecting widespread adoption of digital payments across the Kingdom.

Q2. What was the total value of these POS transactions?

A2. The total value of POS transactions was SAR 11,994,930,000, equivalent to nearly $3.2 billion, indicating strong consumer spending.

Q3. Which city recorded the highest POS transaction value?

A3. Riyadh recorded the highest value at SAR 3,910,220,000, with 59,870,000 transactions, underscoring its role as a leading economic hub.

Q4. Which sector had the most POS transactions by number?

A4. Restaurants and cafes had the highest number of transactions at 55,898,000, valued at SAR 1,842,814,000, highlighting a vibrant dining sector.

Q5. How many POS transactions were made in the beverage and food sector?

A5. The beverage and food sector recorded 46,261,000 transactions with a value of SAR 1,796,452,000, reflecting essential daily spending.

Q6. What was the value of POS transactions in the clothing and footwear sector?

A6. Clothing and footwear transactions totaled 5,409,000, valued at SAR 677,641,000, indicating robust retail activity.

Q7. How many POS transactions occurred in the construction and building materials sector?

A7. There were 1,527,000 transactions in construction and building materials, worth SAR 329,784,000, showing ongoing development activity.

Q8. What was the value of POS transactions in the education sector?

A8. The education sector recorded 102,000 transactions with a value of SAR 85,225,000, reflecting investment in learning.

Q9. How many POS transactions were made for electronic and electric devices?

A9. Electronic and electric devices saw 1,189,000 transactions valued at SAR 210,624,000, indicating demand for technology products.

Q10. What was the value of POS transactions at gasoline stations?

A10. Gasoline stations recorded 15,206,000 transactions worth SAR 841,492,000, highlighting mobility and travel needs.

Q11. How many POS transactions were related to health services?

A11. Health services recorded 7,571,000 transactions with a value of SAR 775,298,000, reflecting spending on medical care.

Q12. What was the total value of POS transactions in the furniture sector?

A12. Furniture transactions amounted to 1,126,000 with a value of SAR 261,071,000, showing demand for home goods.

Q13. How many POS transactions were recorded in hotels?

A13. Hotels recorded 803,000 transactions valued at SAR 269,636,000, indicating tourism and hospitality activity.

Q14. What was the value of POS transactions in public utilities?

A14. Public utilities recorded 1,003,000 transactions worth SAR 69,683,000, covering essential services.

Q15. How many POS transactions were made in jewelry?

A15. Jewelry transactions totaled 193,000, valued at SAR 191,719,000, reflecting luxury spending.

Q16. What was the value of miscellaneous goods and services transactions?

A16. Miscellaneous goods and services recorded 24,123,000 transactions with a value of SAR 1,570,301,000, covering a wide range of items.

Q17. How many POS transactions were in recreation and culture?

A17. Recreation and culture recorded 2,047,000 transactions valued at SAR 237,876,000, showing spending on leisure activities.

Q18. What was the total value of POS transactions in telecommunication?

A18. Telecommunication transactions amounted to 1,409,000 with a value of SAR 102,935,000, highlighting connectivity needs.

Q19. How many POS transactions were made in transportation?

A19. Transportation recorded 2,757,000 transactions valued at SAR 733,168,000, indicating spending on mobility services.

Q20. What was the value of other POS transactions not categorized?

A20. Other transactions totaled 30,900,000 with a value of SAR 1,999,211,000, covering miscellaneous spending across the Kingdom.

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