SAMA: Non-Cash Transactions Dominate Retail Sector in 2024

KSA, 21 April, 2025 : The Saudi Central Bank (SAMA) has announced that electronic payments accounted for 79% of total retail payments in the Kingdom in 2024, up from 70% in 2023. This milestone supports the objectives of the Financial Sector Development Program under Saudi Vision 2030.

SAMA reported a total of 12.6 billion non-cash transactions in 2024, marking a significant rise from 10.8 billion in the previous year. The steady growth reflects increasing adoption of digital payment solutions across the Kingdom.

The progress is attributed to strategic initiatives by SAMA and the financial sector to expand digital payment options and reduce reliance on cash. These efforts include enhancing payment infrastructure and introducing innovative, secure solutions aligned with Vision 2030 goals.

SAMA reaffirmed its commitment to advancing national payment systems and supporting economic activities through continued collaboration with industry partners.