Saudi Arabia Is Going Cashless
The Saudi government's push toward a cashless economy is accelerating. Mada card transactions grew over 40% in recent years. If your business doesn't accept electronic payments, you're losing customers.
Payment Methods You Should Accept
- Mada: The Saudi debit card network — the most widely used payment method in the Kingdom
- Visa/Mastercard: For international customers and credit card users
- Apple Pay: Tap-to-pay from iPhone — growing rapidly among younger Saudi consumers
- STC Pay: Saudi digital wallet with millions of active users
- Cash: Still important, especially for smaller transactions
Choosing a Payment Terminal
Your payment terminal should support NFC (contactless), chip, and swipe. Look for terminals that integrate directly with your POS to avoid manual entry errors and speed up checkout.
Transaction Fees
Every electronic payment carries a small fee (typically 1.5-2.9%). Factor this into your pricing strategy. The convenience of electronic payments usually increases total sales enough to offset the fees.