Digital payments in Saudi Arabia - statistics & facts
Cash usage is declining worldwide, with digital wallets, credit and debit cards, and buy-now-pay-later solutions slowly replacing physical money. The global digital payments industry is expected to reach around 13.17 trillion U.S. dollars by 2026. Saudi Arabia is following the global trend, with cash payments at POS witnessing a decline in 2023 compared to 2019. While cash has usually been the preferred payment method in Saudi Arabia, its usage decline is in line with the rising consumer preference for electronic payments. The increasing preference for contactless payments at retail stores is among the key drivers of the payment card market growth.
