Saudi Arabia reports ‘phenomenal’ increase in NFC mobile payments

NFC mobile payments accounted for 25% of overall POS transaction volumes in Saudi Arabia in September, Saudi Payments reports.

Overall, consumers in Saudi Arabia made more than 266m contactless payments, worth a total of SAR27.5bn (US$7.32bn).

The number of mada contactless payments cards in circulation in the country has also now topped 22m, the Saudi national payment infrastructure operator adds.