Point-of-sale (POS) transactions in Saudi Arabia saw a 78% year-on-year (YoY) growth to around SAR 37.02 billion in June 2020 from SAR 20.8 billion during the same month last year, figures from the Saudi Arabian Monetary Authority (SAMA) showed.
Ahmed Alkholifey, governor of SAMA, said that POS transactions witnessed significant growth after resumption of all economic activities in June 21, 2020 due to the higher value-added tax (VAT) and high demand of expensive products.
Saudi Arabia implemented a 15% VAT on goods and services as of July 1, 2020.
Data showed that 220.8 million transactions were processed through nearly 531,700 points-of-sales in shopping malls, retail stores, and pharmacies.
|
POS Transactions (SAR bln) |
|||
|
Month |
2019 |
2020 |
Variation |
|
January |
21.38 |
28.53 |
+33% |
|
February |
19.24 |
25.93 |
+35% |
|
March |
23.43 |
24.79 |
+6% |
|
April |
24.13 |
16.18 |
(33%) |
|
May |
27.82 |
23.45 |
(16%) |
|
June |
20.76 |
37.02 |
+78% |
|
July |
23.54 |
-- |
-- |
|
August |
23.76 |
-- |
-- |
|
September |
24.84 |
-- |
-- |
|
October |
25.12 |
-- |
-- |
|
November |
25.85 |
-- |
-- |
|
December |
27.93 |
-- |
-- |
On a yearly basis, cash withdrawals declined 9% YoY to SAR 49.4 billion, through 133.1 million transactions processed across 18,800 ATMs in June 2020.
|
ATM Withdrawals (SAR bln) |
|||
|
Month |
2019 |
2020 |
Variation |
|
January |
63.22 |
62.94 |
(0.4%) |
|
February |
54.98 |
56.39 |
+3% |
|
March |
65.32 |
56.90 |
(13%) |
|
April |
62.63 |
40.55 |
(35%) |
|
May |
72.25 |
44.49 |
(38%) |
|
June |
54.40 |
49.38 |
(9%) |
|
July |
63.15 |
-- |
-- |
|
August |
59.65 |
-- |
-- |
|
September |
59.22 |
-- |
-- |
|
October |
62.61 |
-- |
-- |
|
November |
59.56 |
-- |
-- |
|
December |
63.66 |
-- |
-- |
|
No. of ATMs since the beginning of 2019 |
||
|
Month |
ATMs |
Monthly Variation |
|
January 2019 |
18674 |
(11) |
|
February |
18706 |
+32 |
|
March |
18742 |
+36 |
|
April |
18764 |
+22 |
|
May |
18790 |
+26 |
|
June |
18820 |
+30 |
|
July |
18836 |
+16 |
|
August |
18797 |
(39) |
|
September |
18832 |
+35 |
|
October |
18839 |
+7 |
|
November |
18839 |
-- |
|
December |
18882 |
+43 |
|
January 2020 |
18888 |
+6 |
|
February |
18890 |
+2 |
|
March |
18876 |
(14) |
|
April |
18855 |
(21) |
|
May |
18836 |
(19) |
|
June |
18802 |
(34) |
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