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Saudi Arabia, a vast country located on the Arabian Peninsula, is a major oil producer and has a modern financial system. The country has witnessed a significant increase in the use of digital payments, mobile wallets, and online banking, driven by the government’s initiatives to promote a cashless economy. Saudi Arabia’s payment system is undergoing significant modernization, with increasing adoption of digital methods, but cash continues to play a role. Credit and debit cards are widely used, particularly in urban areas and larger businesses. Online banking and electronic transfers are common. Mobile payment solutions are expanding rapidly, reflecting both government initiatives and a rapidly evolving technological landscape.

Population

Estimated Population

36.3 million

Currency

Currency

Saudi riyal (SAR)



Popular payment methods