Riyadh – Mubasher: E-commerce in the Saudi market is growing, supported by the safe low-cost services of the Saudi Payment Network (mada), according to Saudi Payments.
mada has achieved more than 38 million transactions in 2019 with a total value exceeding SAR 10 billion, through 6 million mada cards, Saudi Payments, a company wholly-owned by the Saudi Arabian Monetary Authority (SAMA), revealed on Wednesday.
Telecom, travel, restaurants and hotels led the growth in e-commerce operations among market sectors.
The growth in electronic payments and e-commerce comes on the back of increased use of online services.
mada, formerly known as Saudi Payment Network (SPAN), aims to boost ATMs and POS growth, speed, and security in Saudi Arabia.
