Country Analysis

Saudi Arabia

Middle East

Real-Time Payments Launch


Real-Time Transactions



Real-Time Transactions Forecast



Saudi Arabia Experiences 24% Real-Time Transaction Growth in 2022-2023

Saudi Arabia is one of the latest entrants to the real-time payments space, having launched its sarie system in April 2021. The scheme is supported by all banks operating in Saudi Arabia and enables instant fund transfers between domestic bank accounts through internet banking or mobile banking apps using the recipient’s IBAN, mobile phone number, email address, national ID, or residency number.

Still at a nascent stage, the outlook for real-time payments in Saudi Arabia looks promising, with volumes expected to record a CAGR of 24.6% from 2023 to 2028. The Saudi government’s initiatives to modernize the country’s payments infrastructure and the accelerated shift toward cashless payments will promote adoption of real-time payments. However, the reduction in cash usage in this market currently benefits other forms of electronic payments more than real-time payments; the share of other electronic payments is expected to increase from 58.1% in 2023 to 67% in 2028.

Trends & Data

See All of This Data and Much More!

Get the report

Real-Time Potential Has Become Real-World Proof

Learn how banks, payment service providers, merchants and consumers benefit from real-time payments across 51 markets.

Know in Real Time

Get expert insights delivered directly to your inbox.