GCC E-Payments and Online Banking Summit 2020 - Riyadh | East Med Ltd | 11 November 2020 | TBA, Riyadh, Saudi Arabia
Venue
TBA
TBA, Riyadh, Saudi Arabia
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| Event Date |
Wed Nov 11 +03 - Thu Nov 12 +03 (about 4 years ago)
In your timezone (EST): Wed Nov 11 9:00am - Thu Nov 12 9:00am |
| Location |
TBA
Riyadh, Saudi Arabia |
| Region | EMEA |
Details
The GCC's leading senior meeting and exhibition throughout the world of payments and banking professionals! Covering all things payments, and online banking including mobile wallets, API's, e-Commerce and digital identity solutions.
The Saudi financial services industry is experiencing unprecedented levels of change, with an overcrowded sector being roiled by new and disruptive technology trends. A number of projects are currently under way to further enhance the payments and financial ecosystem. According to MasterCard report “The Cashless Journey”, Kingdom of Saudi Arabia is among those economies that have begun accelerating their move towards becoming a cashless society.
Saudi Arabia records a 72.8% smartphone penetration rate and a 59.2% Internet penetration rate, according to Paymentwall. Mobile payments and digital wallet transactions currently accounts for 8% and 2% of Saudi Arabia’s payments landscape, respectively, but strong growth is expected in the near future.
Mobile payments transactions value in Saudi Arabia accounted for US$136 million in 2016, and the figure is expected to rise to US$1.9 billion million by 2021 at a CAGR of 69.5%. The number of users is likely to reach 2.7 million during same period, according to PayNXT360.