The Secretary-General of the Banking Information and Awareness Committee, a spokesman for Saudi banks, Talaat Hafez, revealed to Okaz that the strong infrastructure of national electronic payment systems contributed to supporting all electronic payment methods during partial and total curfews during the peak period of the Corona pandemic, as the number of service operations increased. Mada »for online payment reached 20.8 million transactions during the first quarter of this year, while the total number of transactions for the“ Mada ”payment service via point of sale devices increased to 543 million transactions during the same period.Hafez said: “The first quarter of this year witnessed an increase in the volume of mada payment service operations through point of sale devices by about 67% compared to the same period in 2019, while operations of mada payment service via the Internet witnessed an increase of 406% compared to the first quarter of 2019. The percentage of the number of transactions executed through the NFC technology is 79% of the total operations carried out during the first quarter of the POS devices operations, an increase of 263% compared to the same period last year ».
He added: “This increase in the volume of electronic payments during the first quarter of 2020 demonstrates the high level of awareness in the Saudi society, as electronic payments in the Kingdom have achieved a high growth rate indicating the possibility of achieving electronic payments targets by 2030, which reaches 70% compared to cash payments. .
He pointed out that last March, the period in which many citizens and residents of the Kingdom began to reduce their movement and stay in homes, recorded a significant increase in the total value of online sales, reaching 1.79 billion riyals.
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