RIYADH: Saudi Arabia’s point-of-sale transactions held above the $3 billion mark for a 12th straight week, supported by resilient consumer demand for food and beverages, official data showed.
The Saudi Central Bank, known as SAMA, reported that POS spending totaled SR13.10 billion ($3.49 billion) in the week ending Sept. 13, with the number of transactions at 231.05 million.
While this represents a 12.3 percent weekly drop in spending, and a 4.7 percent fall in transactions, the headline figures do underscore consumer confidence and the Kingdom’s ongoing digital transformation of payments, supported by initiatives under Vision 2030.
This marks a key milestone in Saudi Arabia’s cashless economy ambitions under the Financial Sector Development Program.
Food and beverages remained the top category, accounting for SR1.96 billion in sales despite a 13.1 percent decline. Restaurants and cafes registered SR1.57 billion, down 6.1 percent, while gas stations fell 5.6 percent to SR1.02 billion. Transportation transactions dropped 8.1 percent to SR966.76 million.
