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E-payment share in retail sector exceeds target as KSA pushes for cashless economy

April 13, 2023April 13, 2023 - by admin - Leave a Comment

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RIYADH: Using the digital mode of funds continues to speed up in Saudi Arabia, with the retail sector surpassing the 60 % goal set by the Monetary Sector Improvement Program, as the Kingdom strikes towards a cashless financial system.

Final 12 months, the share of e-payments within the Kingdom’s retail sector reached 62 % of combination funds, together with money, revealed the newest knowledge from the Saudi Central Financial institution, additionally recognized as SAMA.

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