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Payments through SADAD up 7.5% in January

Payments through SADAD up 7.5% in January
The Saudi Arabian Monetary Agency

Mubasher: Payments through the SADAD system in Saudi Arabia decreased last January by 7.5% or SAR 3 billion to SAR 36.45 billion, compared with SAR 39.4 billion in the corresponding month in 2019.

The value of bills paid through SADAD, which is a payment system owned by the Saudi Arabian Monetary Agency (SAMA), amounted to SAR 35 billion in January 2020, while payments through other channels reached SAR 1.54 billion.

The number of paid bills increased by 0.63% to 23.09 million, compared with 22.9 million by the end of January of last year, as shown by SAMA’s most recent data.

Government services dominated the largest portion of payments through SADAD, at 72.11% or SAR 26.3% billion, followed by telecom and public utilities with SAR 6.09 billion (16.7%), and finance and insurance with SAR 3.48 billion (9.5%).

Meanwhile, telecom and utilities accounted for the biggest number of bills with 14.43 million paid bills, followed by government services with 6.32 million bills.