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\u00a0<\/em><\/p>\n \n Ain Alalam – Rashad Iskandrni<\/strong><\/p>\n 27 January, 2025: <\/strong>While Saudi Arabia is at the forefront of digital payments, around a quarter (22%) of transactions of consumers surveyed are still in cash, according to the second edition of Visa\u2019s \u2018Where Cash Hides\u2019 research.<\/p>\n \n The research, based on a survey of 2,800 individuals across GCC, examined the overall frequency of and motivations for cash usage. It identifies cash-heavy categories and proposes easier, more secure digital payment solutions for both consumers and local businesses. The first edition of Where Cash Hides was conducted in 2023.<\/p>\n \n Key survey findings<\/u><\/p>\n Cash in specific transactions (by % of consumers surveyed): <\/strong><\/p>\n In KSA, P2P transactions (24% vs 33% in 2023) and everyday spending (26% vs 29% in 2023) form a large portion of cash usage.<\/p>\n \u00a0<\/strong><\/p>\n Motivators for cash usage (by % of consumers surveyed): <\/strong><\/p>\n \n Implications and solutions:<\/strong><\/p>\n \u00a0<\/b><\/p>\n Ali Bailoun, Visa\u2019s Regional General Manager for Saudi Arabia, Bahrain and Oman<\/strong>, commented, \u201cSaudi Arabia is at the forefront of digital commerce and Visa will continue to support the Saudi government\u2019s Vision 2030 cashless agenda to reinforce the Kingdom\u2019s leadership in digital payments.\u00a0 However, 22% of consumer transactions are still in cash. \u00a0For Visa, this represents an opportunity to drive financial inclusion and further digitize commerce for a better payment experience for everyone, everywhere in the Kingdom. Our second edition of Visa\u2019s Where Cash Hides research pinpoints precisely where and how Visa, together with our partners, can help grow the digital economy.”<\/p>\n Despite cash usage, consumers\u2019 overall reliance on cash continues to remain low.\u00a0 For 63% of respondents, only 1-2 out of their last 10 transactions were in cash. Only 3% of respondents claimed that all (10 out of last 10) transactions were made with cash.<\/p>\n \n \n About Visa Inc.<\/strong><\/p>\n Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About Visa<\/strong><\/a>, visamiddleeast.com\/blog<\/strong><\/a> and\u00a0@VisaCEMEA<\/strong><\/a>.<\/p>\n \n[\/mhc_text][\/mhc_column][\/mhc_row][\/mhc_section]\n","protected":false},"excerpt":{"rendered":" [mhc_section admin_label=”\u0642\u0633\u0645” fullwidth=”on” specialty=”off”][mhc_fullwidth_menu admin_label=”\u0642\u0627\u0626\u0645\u0629 \u0628\u0639\u0631\u0636 \u0643\u0627\u0645\u0644” menu_id=”56″ background_color=”#ffffff” background_layout=”light” text_orientation=”center” submenu_direction=”downwards” fullwidth_menu=”off”] [\/mhc_fullwidth_menu][\/mhc_section][mhc_section admin_label=”section” transparent_background=”off” gradient_background=”off” background_color=”#ffffff” gradient_style=”horizontal” inner_shadow=”on” parallax=”off” parallax_method=”off” video_hide=”off” video_pause=”off” allow_advanced_padding=”on” remove_padding=”on” force_fullwidth=”off” column_paddings=”padding-0pct” column_match_heights=”off” background_leak=”off” background_leak_color=”#ffffff” background_leak_size=”25″ separator_top=”off” separator_bottom=”off” background_image_size=”cover” background_image_repeat=”no-repeat” background_image_position_x=”center” background_image_position_y=”center” animation=”off” animation_color=”#ffffff” mobile_2_pr_row=”off” mobile_reverse=”off”][mhc_row admin_label=”row”][mhc_column type=”1_3″][mhc_image admin_label=”\u0635\u0648\u0631\u0629” src=”https:\/\/ainalalam.com\/wp-content\/uploads\/2024\/04\/ainlogo.png” show_in_lightbox=”off” url_new_window=”off” animation=”off” hoverfx=”scaleup” sticky=”off” image_mask=”off” border_radius=”0″ align=”center” force_center_on_mobile=”on” […]<\/p>\n","protected":false},"author":1,"featured_media":94551,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":["post-94553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coverage"],"_links":{"self":[{"href":"https:\/\/ainalalam.com\/index.php?rest_route=\/wp\/v2\/posts\/94553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ainalalam.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ainalalam.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ainalalam.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ainalalam.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=94553"}],"version-history":[{"count":0,"href":"https:\/\/ainalalam.com\/index.php?rest_route=\/wp\/v2\/posts\/94553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ainalalam.com\/index.php?rest_route=\/wp\/v2\/media\/94551"}],"wp:attachment":[{"href":"https:\/\/ainalalam.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=94553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ainalalam.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=94553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ainalalam.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=94553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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