Inside the Digital Wallet Opportunity:
Saudi Arabia Edition
Saudi Arabia’s small businesses have big concerns about wallet adoption. Businesses that don’t use digital wallets for cross-border payments are held back by high costs, security concerns, and the lack of competitive exchange rates.
Reasons hindering Saudi SMBs from using digital wallets
What opportunities does this hold for financial service providers?
Who’s Taking the Lead?
Even as businesses might be hesitant, consumers in Saudi Arabia have been far more open to digital wallets.
Among consumers, it’s not surprising that Gen Z is leading the way. However, what does stand out is wallet usage among businesses. Smaller SMBs with no more than $500,000 in annual revenue are the biggest users.
Who is most likely to use digital wallets?
63%
50%
Want more insights on Saudi Arabia’s growing digital wallet landscape?
