17.4 billion riyals in e-commerce sales executed via “Mada” during November 2024

E-commerce sales via “Mada” cards achieved an annual growth of 29.4%, with an increase of about 3.96 billion riyals, to reach 17.44 billion riyals in November 2024, compared to the same period in 2023, which amounted to 13.47 billion riyals, with a number of executed operations amounting to 98.77 million operations, according to what was shown in the statistical bulletin for November 2024 issued by the Saudi Central Bank.

E-commerce sales via “Mada” cards recorded a quarterly growth in the third quarter of 2024 by 12%, with an increase of about 5.43 billion riyals, compared to 46.2 billion riyals in the second quarter of the same year.

Sales recorded growth from the beginning of 2024 until the end of November 2024, by 21%, an increase of about 3.01 billion riyals, as it was at 14.42 billion riyals in January. It is noteworthy that sales include “Mada” card transactions used for payment and purchase through shopping sites, electronic applications and electronic wallets, and do not include transactions made via credit cards.