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samaSaudi Arabian Monetary AuthorityNewsSAMA: Foreign currency credit card transaction amounts decrease
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SAMA: Foreign currency credit card transaction amounts decrease
31/12/2019 12:00 AM

The Saudi Arabian Monetary Authority (SAMA) explained that the amounts of credit card transactions in foreign currency witnessed a noticeable decline during the last months of 2019. The amounts of card transactions decreased by 25% in the month of November 2019 to reach about 1.27 billion riyals, compared to 1.71 billion riyals in the corresponding month of the previous year. It decreased in September and October of 2019 by about 18.7 percent and 28.3%, respectively, compared to the same period in the previous year.

 

This decline coincided with the beginning of a number of seasons and events held in a number of regions and cities across the Kingdom. On the other hand, the amounts of Points of Sales (POS) operations in the Kingdom witnessed great growth during recent months, as it recorded a 30% increase in the month of November 2019 to reach 25.8 billion riyals, compared to 19.9 billion riyals in the corresponding month of the previous year. The restaurants and cafes sector witnessed an annual growth in November 2019 of 54%, and the entertainment, culture, transportation, and hotel sectors witnessed annual growth of 30.5%, 25.2%, and 18.1% for each sector, respectively.

 

Amount of Credit Card Transactions Used outside the Kingdom (million riyals)

Annual change %

2018

2019

Month

0.8

2,392

2,410

July

-26.1

2,966

2,193

August

-18.7

1,851

1,504

September

-28.3

1,794

1,287

October

-25.0

1,703

1,277

November

 





 

Source: Saudi Arabian Monetary Authority


Amount POS Transactions in the Kingdom (million riyals)

Annual change %

2018

2019

Month

18.7

19,180

22,767

July

17.2

19,199

22,556

August

26.2

19,309

24,369

September

30.2

19,297

25,118

October

30.1

19,869

25,849

November






 

Source: Saudi Arabian Monetary Authority


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