The Saudi Press Agency (SPA) has reported that online payments in the country jumped by more than 400% in the first quarter of 2020 compared to the same period last year.
The findings:
Last month, the Saudi Arabian Monetary Authority (SAMA) instructed banks to enable customers to increase their purchase limits through POS reliable channels from SR100 to SR300.
SAMA also instructed that all money transfers be made in riyals between banks operating in the country via the Saudi Arabian Riyal Interbank Express (SARIE) system free of charge.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.