Digital payments are rapidly reshaping consumer behaviour in Saudi Arabia, with cash playing a steadily shrinking role in everyday transactions, according to new research from Visa.
The study shows that 80 percent of all transactions in the Kingdom are now conducted digitally, underscoring how quickly consumers are shifting away from physical cash. Mobile payments alone account for 16 percent of total transactions, reflecting the growing reliance on smartphones and contactless technologies.
Visa’s findings highlight how Saudi Arabia’s digital transformation agenda, combined with widespread smartphone adoption and improved payments infrastructure, is accelerating the move toward a cashless economy. Consumers are increasingly choosing cards, mobile wallets, and online payments for retail, dining, transport, and everyday services.
The trend aligns with the objectives of Vision 2030, which aims to modernise financial services, expand financial inclusion, and build a digitally enabled economy. Banks, fintech firms, and merchants have responded by expanding acceptance points, rolling out contactless terminals, and integrating digital wallets across sectors.
Visa noted that convenience, speed, and security are key drivers behind the shift. Consumers value frictionless checkout experiences, while merchants benefit from faster settlement, better tracking, and reduced cash-handling costs.
The data also reflects the growing maturity of Saudi Arabia’s fintech ecosystem, with digital payment platforms becoming embedded in daily life. As adoption continues to rise, cash is increasingly becoming a secondary option rather than the default for transactions across the Kingdom.
