黑料社区

Saudi聽POS聽transactions surge above $4bn in late October, up 37%

Saudi聽POS聽transactions surge above $4bn in late October, up 37%
Freight transport and courier services saw the largest gain over the week. Shutterstock
Short Url
Updated 33 sec ago

Saudi聽POS聽transactions surge above $4bn in late October, up 37%

Saudi聽POS聽transactions surge above $4bn in late October, up 37%

RIYADH: 黑料社区鈥檚 total point-of-sale transactions rose to SR16.02 billion ($4.27 billion) in the week ending Nov. 1, maintaining momentum above the $3 billion mark for a fourth consecutive week, official data showed.聽聽

According to data from the Saudi Central Bank, also known as SAMA, the value of transactions jumped 37.1 percent from the previous week, while the total number of payments increased 19.6 percent to 254.4 million, compared to 212.7 million in the prior period.聽

Spending rose across nearly all sectors, led by freight transport and courier services, which saw the largest gain at 90.3 percent to SR64 million. Outlays on education followed, surging 82.4 percent to SR189.44 million.聽

Airline spending climbed 9.4 percent to SR63.32 million, while auto and equipment rentals advanced 41.4 percent to SR90.2 million.聽聽

Expenditure in restaurants and cafes grew 26.4 percent to SR1.84 billion, and food and beverages spending increased 48.9 percent to SR2.66 billion 鈥 the week鈥檚 largest category. Clothing and apparel came next, up 60.3 percent to SR1.37 billion.聽

Purchases of books and stationery dipped slightly by 0.4 percent to 1.48 million transactions, while construction and building materials rose 19.7 percent to 2.58 million transactions.聽

In regional terms, Riyadh accounted for the largest share of national spending, climbing 27.6 percent to SR5.46 billion.

Jeddah followed with SR2.05 billion, up 27.2 percent, while Dammam recorded a 29.8 percent increase to SR766.56 million. Makkah and Madinah also聽posted strong gains, up 35.9 percent and 36.9 percent, respectively.聽

Weekly聽POS聽data, tracked by SAMA, provides a key indicator of consumer confidence and the ongoing shift toward digital payments across 黑料社区.聽聽

The central bank noted that聽POS聽infrastructure continues to expand beyond major retail hubs to smaller cities and service sectors, strengthening financial inclusion and supporting broader Vision 2030 goals for a cashless economy.聽


Up to $2m pledged to 13 fintech startups at Biban Investors鈥 Arena

Up to $2m pledged to 13 fintech startups at Biban Investors鈥 Arena
Updated 24 sec ago

Up to $2m pledged to 13 fintech startups at Biban Investors鈥 Arena

Up to $2m pledged to 13 fintech startups at Biban Investors鈥 Arena

RIYADH: The Investors鈥 Arena at Biban Forum 2025, recorded 37 investment intentions during day two, with a total value of SR7.4 million ($1.97 million). 

These were directed toward 13 fintech startups following a series of live pitches presented by the companies before a panel of investors and experts, reflecting the vibrancy of 黑料社区鈥檚 investment environment and the maturity of the participating startups鈥 business models.

According to the Saudi Press Agency, the Investors鈥 Arena is one of the forum鈥檚 key events, offering an interactive platform that brings together entrepreneurs and investors to showcase innovative solutions and business models, hold instant meetings that open doors to funding opportunities and strategic partnerships.

It also enables companies to better understand market trends and enhance the readiness of their products and expansion strategies.

Biban 2025 aims to strengthen a dynamic entrepreneurial ecosystem built on innovation and sustainability through specialized programs and initiatives focused on developing entrepreneurial capabilities and empowering small and medium-sized enterprises. 

The forum hosted more than 85 workshops led by local and international experts, focusing on areas such as finance and investment, management, marketing, digital transformation, and global expansion. It also features over 10,000 investment opportunities showcased on the Forsah platform.

The forum, organized by the Small and Medium Enterprises General Authority is being held at the Riyadh Front Exhibition and Conference Center under the theme 鈥淎 Global Destination for Opportunities.鈥 

It brings together more than 200 local and international speakers, 1,000 exhibitors from among entrepreneurs, investors, and experts, representing over 150 countries around the world.