SAUDI Arabia’s point-of-sale transactions stood at SR13.33 billion ($3.55bn) in the week ending April 11, driven by sustained spending in the food and beverages sector, official data showed.
The segment remained the largest contributor to POS spending despite an 11.4 per cent weekly drop, with transactions totaling SR2.16 bn, according to data from the Saudi Central Bank.
The steady momentum of POS transactions in the kingdom underscores resilient consumer activity and the ongoing shift towards digital payments, supported by the Vision 2030 reform initiative, even as overall transaction values softened week on week.
According to the report, the total number of POS transactions stood at 242.78 million, representing a marginal weekly decline of 1.5pc.
The total value of POS transactions in Saudi Arabia also saw a drop of 9.1pc, primarily due to a 25.8pc fall in spending for education.
POS activity in restaurants and cafes amounted to SR1.78bn, followed by transactions in gas stations at SR999.42m and expenditure for apparel, clothing and accessories at SR995.84m.
The ongoing momentum in POS spending also marks a major milestone in Saudi Arabia’s shift toward a cashless economy, aligning with one of the core objectives of the Financial Sector Development Programme under the Vision 2030 agenda.
The report revealed that POS spending in the transportation sector stood at SR975.53m, followed by healthcare at SR891.87m and professional and business services at SR744.80m.
POS spending in the recreational and cultural sector amounted to SR344.51m, while transactions for electronics and electric devices stood at SR200.64m. Riyadh dominated POS transactions, with expenses in the capital city reaching SR4.66bn, marking a 6.2pc fall compared to the previous week. Jeddah witnessed activity amounting to SR1.84bn, down 7.6pc compared to the previous seven days.
POS spending in Dammam reached SR689.84m, followed by Madinah at SR509.46m and Makkah at SR493.46m.
The latest central bank data shows consumer confidence in Saudi Arabia remains resilient despite global economic headwinds.
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