Total household spending in
The report by
Secretary-General of the Saudi Banking Information and Awareness Committee Tala’at
There is traditionally a surge in retail activity during Ramzan and in the months leading up to it in the Kingdom. In recent years this has also been accompanied by an increase in electronic transactions.
Another report already published by SAMA expects an increase in electronic payments during Ramzan this year of 10 percent compared to the same period last year, as well as a 24-percent increase in the use of Electronic Points of Sale (EPOS).
The report also showed that the number of transactions carried out through the Saudi Payments Network (SPAN)-the central system in the Kingdom which connects ATM payments and withdrawals, EPOS payments, and credit card payments-totalled 1.3 billion in 2013.
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