RIYADH: Saudi Arabia’s e-commerce spending via mada cards surged to SR29.86 billion ($7.96 billion) in July, up 79.45 percent from a year earlier.
According to recent data from the Saudi Central Bank, also known as SAMA, the number of online transactions also climbed 65.64 percent to 149.74 million. The July tally is among the highest on record and underscores the Kingdom’s rapid pivot to digital commerce.
The series tracks e-commerce purchases made with mada cards across websites, in-app checkouts and e-wallets, but does not include transactions on international credit card schemes.
The momentum rests on two reinforcing dynamics: a young, always-online consumer base and a policy push to normalize cashless payments at scale. About 70 percent of Saudi citizens are under 35 years old, per the General Authority for Statistics as of August, an age profile that leans toward early adoption of mobile shopping and app-based payments.
At the same time, connectivity is near-universal: Saudi Arabia counted roughly 33.9 million Internet users in January, according to Data Reportal, implying around 99 percent penetration, with mobile the dominant access channel.
