Riyadh - Sharikat Mubasher: The point of sale (PoS) market in Saudi Arabia has experienced rapid growth in recent years, driven by the shift towards digital payment methods and tech advancements. During the second quarter (Q2) of 2024, PoS sales in the Kingdom recorded SAR 162.2 billion across 2.5 billion transactions, signaling a humble drop of around 2.9% compared to the previous quarter.
The monthly bulletin by the Saudi Central Bank (SAMA) showed that the number of PoS sale terminals rose to 1.8 million in Q2-24 from 1.7 million in Q1-24.
In June, the number of PoS transactions hit 825.8 million, with sales amounting to SAR 52.7 billion, sliding from 894.4 million in May.
Moreover, the number of e-commerce transactions conducted using Mada cards rose to 274.5 million in Q2-24, with sales estimated at SAR 46.2 billion, compared to 263.2 transactions worth SAR 44.4 billion in the previous quarter.
