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277 electronic payment transactions per person annually in the Kingdom

The average number of electronic payment transactions carried out by adults reached 277 transactions annually in 2021, a growth rate of 98% compared to 2019, when the average electronic payment transaction was 140 transactions.

A recent report on the use of payment methods in the Kingdom in 2021 indicates that electronic payment transactions in the Kingdom outnumber cash transactions, although the number of transactions carried out by an individual has decreased compared to the United Kingdom. 550 activities per capita annually, and in the United States, 760 activities per person per year.

Online fare hike

The report indicated that the total number of cash and electronic payments processed in the Kingdom in 2021 was 11.3 billion payments across all sectors, with electronic payments accounting for 62% of the total transactions processed, excluding cash withdrawals from automated teller machines. , with approximately 7 billion cash transactions, the total value of payment activities is estimated at 15.6 trillion Saudi Riyals, of which electronic payments represent about 14.2 trillion Saudi Riyals, and the share of the commercial sector is 80% of the total value. The share of payment transactions and individuals is 85% of the total number of payments. 76% of payment transactions were processed in 2019 compared to 14% for the commercial sector, while the share of the government sector was approximately 1%. Total number of transactions processed.

Card payments

In 2021, the individuals sector has registered a significant growth in the volume of electronic transactions, as the share of electronic payments reached 57% of total individual payments, which was 36% in 2019. The growth of personal electronic payments is mainly due to the significant growth of card operations, as card operations accounted for 52.5% of total payment transactions carried out by individuals and 80% of total electronic payments to individuals and the number of card operations executed. Crossing 5.5 billion transactions, this represents a growth of 232% compared to 2019, and this rapid growth in the last two years is due to the huge growth in payment via cards, where card payments using NFC technology account for 95%. Total card payments compared to 69% in 2019 AD, forcing all stores to offer point of sale devices.

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Average payments per capita during the year:

Saudi Arabia

277

United Kingdom

550

United States

760

Number of payments in Kingdom 2021

11.3 billion cash

Electronic money

7 billion operations = 62%

Payment value

15.6 trillion riyals

Value of electronic payments

14.2 trillion riyals

Business Sector Fees

80%

Distribution of Payments Executed:

85% of individuals

Business Sector 14%

Government Sector 1%

E-Payment 2021 with Personal Fees

57%

Electronic Payment of Fees by Individuals 2019

36%

Card charges for individuals

52.5%

Percentage of electronic payments to individuals

80%

Number of card transactions processed in 2021

5.5 billion operations

growth rate

232%