RIYADH: Saudi Arabia’s point-of-sale transaction value remained above $3 billion in the week ending June 27, driven by increased spending in the food and beverages sector, official data showed.
According to the latest report by the Saudi Central Bank, also known as SAMA, the total POS transaction value in the Kingdom stood at SR12.60 billion ($3.36 billion), representing a 1.9 percent increase compared to the previous week.
The steady growth reflects sustained consumer confidence and Saudi Arabia’s continued shift toward digital payments and a cashless economy under Vision 2030.
According to the SAMA report, the number of POS transactions, however, declined by 1.1 percent to 224.3 million.
The value of transactions in the food and beverages sector stood at SR1.97 billion, representing an increase of 2 percent compared to the previous week.
