Saudi Arabia: Saudi e-commerce sales via MADA cards surged 73.4 percent year on year in March to a record SR27.55 billion ($7.34 billion), reflecting rapid growth in the Kingdom’s digital payment ecosystem. 

According to the Saudi Central Bank, also known as SAMA, online transactions using the national card network reached 147.6 million during the month, up 54.5 percent compared to March 2024.

The figures reflect transactions completed through websites, mobile apps, and e-wallets linked to MADA, and do not include those carried out using Visa, MasterCard, or other international networks.

MADA — the Kingdom’s domestic debit card network — underpins a growing portion of Saudi Arabia’s non-cash economy by enabling secure, contactless payments through NFC technology both online and at retail locations. This growth in digital commerce reflects rising consumer trust, expanding fintech ecosystems, and national investments in financial technology integration. 

In a step toward digital expansion, SAMA signed an agreement in April with Google to introduce Google Pay in Saudi Arabia using the MADA infrastructure. The integration, expected to launch later in the year, will allow users to add and manage their MADA-linked cards within Google Wallet, offering seamless and secure transactions across physical stores, mobile apps, and websites.

According to SAMA, this move is part of a broader push to establish a robust digital payments infrastructure and reduce the country’s dependence on cash transactions. 

The central bank’s efforts also include licensing new fintech players such as Barq, launching e-wallet platforms, and facilitating the operational launch of STC Bank, all aimed at bolstering financial inclusion and consumer convenience.  

Earlier this year, the eSAMA portal also entered trial phase, providing digital access to a range of central bank services. 

Alongside e-commerce growth, point-of-sale transactions using MADA also expanded, reaching SR65.67 billion in March — a 10.02 percent increase year on year. 

E-commerce sales using MADA cards were equivalent to 42 percent of POS transaction value in March, up from 27 percent a year earlier — underscoring the faster growth of online spending compared to in-store purchases.

POS transactions — which cover physical card usage at retail stores, restaurants, gas stations, and service outlets — do remain a critical pillar of everyday consumer spending.