logo-en
  • Home
  • Companies
  • Investors
  • Opportunities
    • Home
    • SME Loans
  • FinTech Hub
  • News
LoginRegister
  • english iconEnglish
  • english iconArabic
  1. Mubasher News
  2. E-commerce sales via Mada cards hit SAR 157 bn in 2023

E-commerce sales via Mada cards hit SAR 157 bn in 2023

NOHA.GAD
Feb 8, 2024
E-commerce sales via Mada cards hit SAR 157 billion in 2023, reaching its highest level in five years

Riyadh - Sharikat Mubasher: The number of e-commerce transactions carried out through Mada cards reached its highest level in five years in 2023.

The monthly bulletin released by the Saudi Central Bank (SAMA) showed that the number of e-commerce transactions recorded 873.7 million in 2023 with sales worth SAR 156.9 billion, marking an annual growth rate of 28% compared to SAR 122.6 billion in 2022.

During the fourth quarter (Q4) of 2023, the number of e-commerce transactions using Mada cards reached 237 million with a total value of SAR 40.5 billion.

Meanwhile, the number of e-commerce transactions touched 81 million with sales amounting to SAR 13.6 billion in December 2023.

It is worth noting that the figures covered transactions made by Mada cards through online shopping sites, in-app purchases, and e-wallets, excluding transactions made by Visa, MasterCard, and other credit cards.

Tags

Share

Attract clients with your ad

Start Now

Trending

stc powers up for Esports World Cup 2025
MUBASHER.SA
200 Indian firms to explore investments in Saudi gold, jewelry sector
MUBASHER
BlueFive Capital closes founding round at $120mn valuation
MUBASHER
Rekaz raises $5mn seed round to expand, enhance AI capabilities
MUBASHER.SA
stc’s Tali Ventures leads strategic investment in sukuk fintech Tarmeez Capital
MUBASHER.SA

Related News

Private Equities News
Calendar Icon
Jul 8, 2025
stc powers up for Esports World Cup 2025
Read More
Private Equities News
Calendar Icon
Jul 8, 2025
Saudi Arabia maintains first position in Global Cybersecurity Ranking in 2025
Read More
Private Equities News
Calendar Icon
Jul 7, 2025
Report: Saudi Arabia leads Middle East in crypto inflows
Read More
Private Equities News
Calendar Icon
Jul 7, 2025
SAB Invest launches $266M private credit fund focused on MENA
Read More
Private Equities News
Calendar Icon
Jul 7, 2025
Kafalah wins Best Institution for Sustainable Finance award
Read More
Private Equities News
Calendar Icon
Jul 7, 2025
Saudi Health Ministry organizes Global Health Exhibition 2025 in Riyadh
Read More
Private Equities News
Calendar Icon
Jul 7, 2025
E-commerce registrations in Saudi Arabia exceed 39K in Q2-25
Read More

Sharikat Mubasher Newsletter

Get insights and exclusive content from the world of business and finance that you can trust delivered to your inbox

Email is Required
Should be a valid email

Democratizing private equity investments

  • Home
  • Companies
  • Investors
  • FinTech Hub
  • Opportunities
  • News
  • Contact Us
  • Sitemap
2024 All rights reserved to Sharikat Mubasher