Checkout.com Unveils Insights on Ramadan Shopping
Across the region, the volume of digital payment transactions in Ramadan has risen by 143% y-o-y between 2021 and 2023, Checkout.com revealed.
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Checkout.com, a global payments solution provider, has predicted that online shopping in Saudi Arabia over the month of Ramadan will continue to surge across many key retail and service categories.
Remo Giovanni Abbondandolo, General Manager – MENA at Checkout.com, said, “We see a growing confidence in digital payment platforms and increasing trust from consumers for online shopping. This reflects not only the unique preferences of Ramadan shopping, but also the dynamic and evolving nature of the digital payments landscape in the Kingdom. The rapid digitalisation in the country has led to a considerable boost in online spending in recent years, with the evolving needs of merchants being supported by payment service providers who are fine-tuning their value propositions.”
Based on previous spending trends, Checkout.com expects high-growth categories this holy month to include transactions in services, food stores, apparel, and hospitality.
According to Checkout.com, the volume of digital payment transactions in Ramadan has risen by 143% y-o-y between 2021 and 2023.
