SADAD payments in Saudi Arabia down 21% in H1

Total payments made through SADAD registered $46.43mln in H1-20

  

Riyadh – Invoices paid through SADAD, one of the Saudi Arabian Monetary Authority’s (SAMA) payment systems, fell by 21.65% on a yearly basis in the first half (H1) of 2020, or SAR 48.031 billion.

Total payments made through SADAD registered SAR 174.136 billion in H1-20, compared with SAR 222.167 billion in H1-19, according to recent data from SAMA.

Bills paid via SADAD accounted for SAR 166.5 billion in H1 of the year whilst those paid through other channels came in at SAR 7.7 billion.

Month-on-month (MoM), the overall payments through SADAD advanced by 56.63% when compared to May’s level of SAR 30.21 billion but declined by 9.32% to SAR 27.63 billion year-on-year (YoY).

Sector-wise, the government services segment dominated SAR 8.150 billion, representing 49.8% of the total value of invoices, followed by the telecommunication and public facilities sector with 34% at SAR 5.56 billion.

SADAD is a central system for displaying and paying invoices, launched to facilitate and accelerate the process of payment of invoices and other payments electronically across all banking channels in Saudi Arabia.

Source: Mubasher

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