RIYADH: Saudi Arabia’s e-commerce sales using Mada cards increased by 57 percent in April compared to the same month last year, hitting SR23.27 billion ($6.2 billion).
Data by the Saudi Central Bank, also known as SAMA, shows online transactions through Mada exceeded 132 million for the month, up 40.75 percent year on year, reflecting a substantial increase in consumers shopping via websites and mobile apps.
These figures include purchases made online using linked debit cards and e-wallets, but they do not account for credit card transactions processed through international networks such as Visa or Mastercard.
Mada, formerly known as Saudi Payment Network, is the Kingdom’s national electronic payment system, connecting all ATMs and point-of-sale terminals to a central payments switch.
It enables debit and prepaid card services for millions of Saudis, allowing them to pay both in stores and online using funds directly from bank accounts. Importantly, Mada transactions utilize near-field communication technology for secure, contactless payments, meaning shoppers can simply tap their card or smartphone at terminals for instant checkout.
