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Decrease in Cash Withdrawals and increase in the use of card of contactless payments

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Decrease in Cash Withdrawals and increase in the use of card of contactless payments, the latest update from the Saudi Central Bank. The report compares the data from the previous year which shows how people have changed the way they use to spend due to changes in our daily life. Cash is still in use but it is towards a decline and digital or card purchases are increasing.

Decrease in Cash Withdrawals and increase in the use of card of contactless payments

  • Cash withdrawals from ATMs recorded during January 2021 a decrease of 17% to reach about 51.96 billion riyals, compared to January 2020 withdrawals, which amounted to 62.94 billion riyals.
  • An increase in the value of sales through points of sale in Saudi Arabia during the month of January 2021 by 31%, bringing its total value to about 37.27 billion riyals, compared to 28.53 billion riyals during the same period in 2020. (Source: Ajel News)

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