Sales of “Mada” and e-commerce – Al-Bilad newspaper – are on the rise

Jeddah – the country

Consumer spending in the kingdom increased to 105.3 billion riyals during October, up 11%, from 94.75 billion riyals in the same month last year.
According to monthly data from the Saudi central bank “SAMA”, the value of sales through points of sale increased in the same period by 18%, reaching approximately 47.66 billion riyals, and sales occurred through 669.1 million transactions, and across 1.38 million devices.
Cash withdrawals from ATMs in the same month recorded a 1% decline to approximately 46.78 billion riyals, and these cash withdrawals were made through 16.3 thousand ATMs of operating banks and the Saudi network, and through 134.9 million transactions.
E-commerce sales via mada cards rose 52% during the month to 10.9 billion riyals, sales which were made through 56.1 million transactions.
Point-of-sale transactions represent what consumers spend via debit and credit cards in large malls, retail stores, pharmacies, and others.
E-commerce sales include mada card transactions used for payments and purchases through shopping websites and electronic applications and do not include transactions made using Visa, MasterCard and other credit cards.