Saudi Arabia Reaches 79% Cashless Transactions Ahead of 2025 Target
The Kingdom surpasses its 2025 cashless goal, supported by rapid fintech growth and policy reform.
Saudi Arabia has surpassed its 2025 cashless economy target ahead of schedule, with digital transactions now accounting for 79% of all payments, according to the Saudi Central Bank (SAMA).
The Kingdom’s financial ecosystem has transformed into one of the region’s most dynamic, with over 280 fintech companies operating as of mid-2025.
The fintech sector’s rise has been driven by regulatory reforms, investments in payment infrastructure, and initiatives such as Fintech Saudi—launched in 2018 by SAMA and the Capital Market Authority—and the Fintech Enablement Program ‘Makken’, introduced in 2023 to support startups through advanced technology and cybersecurity resources.
