RIYADH: Saudi Arabia’s Projects Support Fund Initiative has signed an agreement with Tadawul, the Saudi Stock Exchange, to provide economic stimulus for listed companies. The initiative targets private sector companies in the healthcare, education and large real estate development sectors, in a bid to help gross domestic product growth, create employment and support local
RIYADH: Digital payment transactions in the Kingdom jumped by 75 percent in 2020 as Saudi consumers embraced online shopping during the coronavirus (COVID-19) pandemic, while cash withdrawals from ATMs and other payment points fell 30 percent over the same period.
Point of sale (PoS) refers to a place where customers can execute payments for goods or services. This can be a credit card in a clothes store, a digital payment in a coffee shop or through a food delivery app.
Speaking to Arab News, Talat Zaki Hafiz, economist and secretary-general of the media and banking awareness committee for Saudi banks, said: “The total number of the PoS operations in 2020 amounted to about 2.8 billion, an increase of 75 percent compared with the same period in the previous year.”