Payment methods in Saudi Arabia

Asia

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In Saudi Arabia, online shoppers use something other than a card — cash or digital payment methods — in almost 60% of transactions.

Market takeaways

In Saudi Arabia, online shoppers use something other than a card — cash or digital payment methods — in almost 60% of transactions.
Saudis spend almost $7 billion a year buying goods from e-commerce merchants in other countries, representing 74% of total e-commerce.
In 2023, the Saudi e-commerce market was worth $10 billion and is projected to reach $17 billion by 2027.
Saudi shoppers complete just over 40% of all online purchases using a smartphone or tablet.
The average Saudi online shopper spends $286 per year with e-commerce merchants, expected to rise to $434 by 2027.

Population

35.5M

Online population

34.8M

B2C e-commerce

$9B

Banked population

80%

Credit card population

21%

E-commerce of total retail

Payment method breakdown

Card42%
Cash10%
Bank Transfer16%
E-Wallet22%
Other10%

Card scheme breakdown

Visa4%
Mastercard3%
American Express0%
Local Schemes93%
Other0%

Cross-border e-commerce

Share of e-commerce

74%

Cross-border value (est.)

$6.7B

Featured payment methods in Saudi Arabia

Popular options based on coverage and prominence in this market.

STC Pay

STC Pay is Saudi Arabia's largest mobile wallet, the first SAMA-licensed fintech, now transforming into STC Bank and widely accepted for online and in-store payments. Operator: STC Bank (Saudi Digital Payments Company, STC Group). Est. users: 12 million+ users (2024).

mada

mada is Saudi Arabia's national debit-card and payment scheme operated by Saudi Payments, accounting for over 90% of cards issued and accepted at online checkouts across the Kingdom. Operator: Saudi Payments (subsidiary of SAMA). Est. users: 30 million+ cards issued (2023).

Tamara

Tamara is a Saudi-headquartered BNPL provider licensed by SAMA, letting shoppers split purchases into installments at online and in-store checkouts across the Gulf. Operator: Tamara Financial Company. Est. users: 10 million+ users (2024).

Tabby

Tabby is the Middle East's leading independent BNPL fintech, SAMA-licensed and UAE-regulated, enabling split payments at over 40,000 retailers online and in-store. Operator: Tabby FZ-LLC. Est. users: 14 million+ users (2024).

urpay

urpay is a fast-growing Saudi mobile wallet developed by Al Rajhi Bank's neoleap, offering virtual cards for online shopping, bill payment and international transfers. Operator: neoleap (Al Rajhi Bank). Est. users: Several million users (2024, best estimate).

ValU

ValU is Egypt's leading BNPL platform and an EFG Hermes subsidiary, offering licensed digital installment payments at online checkouts including noon and major retailers. Operator: Valu (subsidiary of EFG Holding). Est. users: 4 million+ transactions, ~25% MENA consumer-finance share (2024).

All payment methods in Saudi Arabia

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Featured banks in Saudi Arabia

Major institutions operating in this market.

Al Rajhi Bank

Riyadh, Saudi Arabia

Al Rajhi Bank is the world's largest Islamic bank by assets and Saudi Arabia's second-largest bank, offering Shariah-compliant retail, corporate, and investment banking.