RIYADH: Saudi Arabia has the highest adoption rate of contactless payments through near-field communication (NFC) with 94 percent, the highest in the Middle East and North Africa and above the EU’s average and ahead of Hong Kong and Canada, according to the Saudi Central Bank.
SAMA on Sunday said the Kingdom’s successful transition to cashless payments is part of the central bank’s strategy to raise e-payments to 70 percent of all transactions by 2025 in the Kingdom.
The central bank said to achieve this goal it has fully adopted NFC payments since 2016.
