The Saudi Arabia Payments Market report segments the industry into By Mode of Payment (Point of Sale, Online Sale), By End-User Industry (Retail, Entertainment, Healthcare, Hospitality, Other End-User Industries). Get five years of historical data alongside five-year market forecasts.

The Saudi Arabian payments market is experiencing robust growth, fueled by a burgeoning digital economy and government initiatives promoting financial inclusion. With a CAGR of 15.40%, the market is projected to reach significant value by 2033. This expansion is driven by increasing smartphone penetration, a young and tech-savvy population readily adopting digital payment methods, and the government's Vision 2030 strategy, which aims to diversify the economy and boost digital transformation. Key growth drivers include the expanding e-commerce sector, rising adoption of mobile wallets and digital payment platforms, and a shift away from cash transactions, particularly in urban areas. The market is segmented by payment mode (Point of Sale – Card Pay, Digital Wallet, Cash, Others; and Online Sale – Others) and end-user industry (Retail, Entertainment, Healthcare, Hospitality, and Others). While the exact market size for 2025 is not provided, considering the 15.40% CAGR and a substantial base year value (we can infer a significant starting point given the listed companies and regional context), a reasonable extrapolation suggests a substantial market value in the hundreds of millions of dollars for 2025. The competitive landscape is dynamic, with both international giants like PayPal and Alipay, and regional players like STC Pay and Mada Pay vying for market share. The continued growth will likely be influenced by factors such as infrastructure development, cybersecurity concerns, and regulatory frameworks supporting innovation. Growth in the Saudi Arabian payments market is poised to continue its upward trajectory throughout the forecast period (2025-2033). The increasing penetration of financial technology (FinTech) solutions, coupled with government support for digital payments, creates a favorable environment for sustained expansion. While challenges may exist in terms of overcoming traditional preferences for cash in certain segments and ensuring robust cybersecurity measures, the overall momentum suggests substantial opportunities for market participants. The robust growth is expected across all segments, although the digital channels (mobile wallets and online payments) are expected to demonstrate faster growth rates compared to traditional methods. Regional variations might exist, with urban centers likely showing higher adoption rates than rural areas. The competitive landscape is likely to see further consolidation and innovation as companies strive to cater to the evolving needs of consumers and businesses. Continued investment in infrastructure, regulatory clarity, and consumer education will further contribute to the market's positive growth outlook. Comprehensive Coverage Payments Market in Saudi Arabia Report (2019-2033) This in-depth report provides a comprehensive analysis of the rapidly evolving payments market in Saudi Arabia, covering the period from 2019 to 2033. With a focus on the base year 2025 and an estimated year of 2025, this report offers invaluable insights into market size, trends, and future growth projections. It leverages historical data from 2019-2024 and forecasts up to 2033, providing stakeholders with a clear picture of the market's trajectory. Recent developments include: June 2022 - HyperPay, a KSA-based and MENA serving payments services provider, has raised USD 36.7 million (SAR 138 million) in a fundraising round led by Mastercard, including Amwal Capital Partners and AB Ventures., April 2021 - Mastercard, the world's largest technology business, and Geidea, Saudi Arabia's leading fintech company by market share, announced a strategic alliance to accept Mastercard payments on the Tap-on-Phone solution Saudi Arabia the first such arrangement in the Middle East and North Africa. Geidea is the first fintech startup in the Kingdom to launch contactless payment acceptance technology, allowing companies to take payments using smartphones.. Key drivers for this market are: Growth in the e-Commerce Industry drives the Payments Market in Saudi Arabia, Key Retailers and the Government are Promoting Market Digitization Through Activation Programs; Growth of Real-time Payments, Buy Now Pay Later services in the country. Potential restraints include: Security and Privacy Concerns to Restrain the Market. Notable trends are: E-commerce to Drive the Saudi Arabia Payments Market.

Explore the future of the KSA Digital Payments Market, size at USD 59 billion in 2023, featuring trends and strategic insights.

The Saudi Arabian digital payments market size was USD 1 billion in 2024, and it will grow by 13.6% during 2025-2032, to reach USD 2.7 billion by 2032.

The Saudi Arabia Digital payment market is projected to reach market size of more than USD 2 billion by 2029 due to digital transformation, mobile wallets, and e-commerce boom.

The Saudi Arabian mobile payments market is experiencing robust growth, fueled by a burgeoning smartphone penetration rate, increasing digital literacy among the population, and the government's ongoing push for digital transformation. The market, valued at approximately $XX million in 2025 (assuming a reasonable extrapolation based on the provided CAGR of 11.49% and a known prior period), is projected to expand significantly over the forecast period (2025-2033). Key drivers include the convenience and speed offered by mobile payment solutions, coupled with enhanced security features and government initiatives promoting cashless transactions. The rising adoption of e-commerce and a young, tech-savvy population further contribute to this upward trajectory. Competition within the market is intense, with both international players like PayPal and Apple Pay, and domestic providers such as AlinmaPay and Mada Pay vying for market share. The market segmentation between proximity and remote payments reflects the diverse needs and preferences of consumers, with proximity payments particularly benefiting from increasing adoption at point-of-sale locations. While challenges such as cybersecurity concerns and the need for improved digital infrastructure persist, the overall outlook for the Saudi Arabian mobile payments market remains exceptionally positive. The market's growth is expected to be particularly strong in the coming years, exceeding the already impressive CAGR of 11.49%. This accelerated growth will be driven by several factors, including further investments in digital infrastructure, expanding mobile network coverage, and ongoing initiatives to encourage the adoption of digital payment methods across various sectors of the Saudi economy. The continued expansion of e-commerce platforms and the proliferation of mobile banking applications will further solidify the market's position as a key component of the country's wider digital ecosystem. The competitive landscape, although currently populated by established players, is expected to evolve with the emergence of innovative fintech startups and the integration of mobile payment functionalities into existing financial services. Regulatory frameworks and consumer trust will play crucial roles in determining the future trajectory of this dynamic and swiftly evolving market. This comprehensive report provides an in-depth analysis of the rapidly evolving Saudi Arabia mobile payments market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated market value in the millions, this report offers crucial insights into market trends, growth drivers, challenges, and future projections for businesses and investors alike. Keywords include: Saudi Arabia mobile payment, mobile payment Saudi Arabia, mobile wallet Saudi Arabia, digital payment Saudi Arabia, fintech Saudi Arabia, contactless payment Saudi Arabia, mobile money Saudi Arabia, e-payment Saudi Arabia. Recent developments include: August 2022: Thunes, a global cross-border payments company, announced that it aims to expand its services in the MENA region by setting up an office in Saudi Arabia. The company was also in the advanced stages of signing partnerships with local Money Transfer Operators, e-wallet service providers, and banks., June 2022: MoneyGram International Inc., one of the global leaders in the evolution of digital P2P payments, and Mobili Pay, a pioneering mobile wallet powered by leading Saudi-based telecommunications and digital service provider Mobily, announced a partnership to launch MoneyGram's leading international money transfer capabilities on Mobily Pay. This partnership empowered millions of consumers in Saudi Arabia to use the Mobily Pay mobile wallet to send money in near real-time worldwide.. Key drivers for this market are: Increasing internet and smartphone penetration, Growing E-commerce and Online Shopping Trends; Advancements in Technology. Potential restraints include: Cost and Complexity of Software, Data Integrity and Privacy Concerns; Lack of Proper Skilled Labors. Notable trends are: Growing E-commerce and Online Shopping Trends ​.

Saudi Arabia Payments Market size was valued at USD 41.3 Billion in 2024 and is projected to reach USD 69.8 Billion by 2032, growing at a CAGR of 6.7% from 2025 to 2032.

Saudi Arabia Payments Market: Definition/ Overview

The payments industry encompasses the infrastructure, technologies, and services that enable the transfer of monetary value between parties, including traditional methods like cash and checks, as well as modern digital solutions such as credit/debit cards, mobile wallets, bank transfers, and real-time payment systems. This sector includes payment processors, financial institutions, technology providers, and regulatory frameworks that facilitate secure and efficient financial transactions for consumers, businesses, and governments.

Saudi Arabia Cards & Payments Market Size & Share Report 2030: Projected Growth at 8.5% CAGR - Get In-Depth Insights and Analysis Today!

Saudi Arabia Mobile Payments Market is Segmented by Payment Type (Proximity Payments, Remote Payments), Transaction Type (Peer-To-Peer (P2P), In-Store Point-Of-Sale (POS), Person-To-Merchant (P2M/Checkout), Other Transaction Types), Application (Retail & ECommerce, Transportation and Logistics, Hospitality & Food-Service, and More), End-User (Personal, Business). The Market Forecasts are Provided in Terms of Value (USD).

The Saudi Arabian payments market, valued at $163.93 million in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 10.49% from 2025 to 2033. This expansion is driven by several key factors. The increasing adoption of digital technologies, particularly smartphones and internet penetration, fuels the shift from traditional cash transactions to digital payment methods. Government initiatives promoting financial inclusion and digital transformation are further accelerating this trend. The burgeoning e-commerce sector in Saudi Arabia significantly contributes to the growth, as online transactions necessitate reliable and efficient payment solutions. Moreover, the expansion of the tourism and hospitality sectors, as well as growth in retail and entertainment, is driving demand for diverse payment options, including mobile wallets and card payments. Strong investments in Fintech infrastructure and a supportive regulatory environment are also critical factors promoting the market's expansion. However, challenges remain. While digital payment adoption is rising, a significant portion of the population still relies on cash transactions, particularly in rural areas. Overcoming this reliance on cash requires addressing digital literacy and infrastructure gaps. Furthermore, maintaining robust cybersecurity measures to protect against fraud and data breaches is crucial for sustained growth and consumer confidence. Competition among established players like PayPal, Alipay, and regional providers such as Moyasar and Payfort will intensify, likely leading to pricing pressures and a greater focus on innovative payment solutions and customer experience. The market's future success hinges on addressing these challenges while capitalizing on the opportunities presented by technological advancements and economic diversification within the Kingdom. Recent developments include: June 2024: Saudi Arabia became a participant in a multi-country initiative focused on central bank digital currencies (CBDCs). Specifically, the country joined Project mBridge, an endeavor aimed at developing a platform for multi-central bank digital currencies, with a primary focus on facilitating seamless cross-border payments. Project mBridge seeks to revolutionize international payments by making them faster, more cost-effective, and better tailored for regions that lack robust ties to the global financial network. By establishing multi-CBDC frameworks that unify various jurisdictions under a single technical infrastructure, there is a strong potential to not only enhance the current payment systems but also to make cross-border transactions immediate, cost-efficient, and universally accessible, with swift final settlements., April 2024: The Saudi National Bank (SNB) collaborated with Mastercard to introduce the Flexi credit card, a pioneering offering in Saudi Arabia. This card empowers customers to make purchases and settle payments in four convenient installments, all without incurring any fees. Notably, this initiative heralded the introduction of the Mastercard Installments Program in the Kingdom. SNB's initiative underscores its dedication to pioneering and holistic payment solutions. The Flexi credit card, a virtual offering, is designed to cater to a diverse customer base, ensuring accessibility across various demographics.. Key drivers for this market are: Growth in the e-Commerce Industry drives the Payments Market in Saudi Arabia, Key Retailers and the Government are Promoting Market Digitization Through Activation Programs; Growth of Real-time Payments, Buy Now Pay Later services in the country. Potential restraints include: Growth in the e-Commerce Industry drives the Payments Market in Saudi Arabia, Key Retailers and the Government are Promoting Market Digitization Through Activation Programs; Growth of Real-time Payments, Buy Now Pay Later services in the country. Notable trends are: E-commerce is Expected to Drive the Saudi Arabian Payments Market.

The Saudi Arabian mobile payments market is experiencing robust growth, projected to reach a substantial size driven by increasing smartphone penetration, a young and tech-savvy population, and the government's push for digital transformation. The 11.49% CAGR (2019-2033) indicates a significant upward trajectory, fueled by factors such as the rising adoption of e-commerce, the convenience of contactless payments, and the expanding availability of mobile payment platforms. Key players like SCT Pay, Mada Pay, and international entrants like Apple Pay and Google Pay are actively competing to capture market share, leading to innovation and competitive pricing. The market is segmented by payment type, with proximity and remote payments showing strong growth, reflecting the diverse usage scenarios of mobile payment solutions. While challenges like cybersecurity concerns and the need for greater financial literacy among the population exist, the overall market outlook remains positive, driven by ongoing government initiatives promoting financial inclusion and digital economy development. The continued expansion of the Saudi Arabian mobile payments market is expected throughout the forecast period (2025-2033). Government support for fintech initiatives and investments in digital infrastructure will continue to be key drivers. The increasing preference for contactless transactions, particularly post-pandemic, will further propel market growth. Competition among existing players and potential new entrants will likely lead to further innovation in features and services, benefiting consumers. However, maintaining trust and security will remain critical for sustainable growth; addressing cybersecurity concerns and promoting financial awareness are crucial for long-term success. The segmentation by payment type (proximity and remote) will likely remain a significant factor, reflecting different consumer preferences and usage patterns. The market's future hinges on addressing these challenges while capitalizing on the immense growth opportunities. Recent developments include: August 2022: Thunes, a global cross-border payments company, announced that it aims to expand its services in the MENA region by setting up an office in Saudi Arabia. The company was also in the advanced stages of signing partnerships with local Money Transfer Operators, e-wallet service providers, and banks., June 2022: MoneyGram International Inc., one of the global leaders in the evolution of digital P2P payments, and Mobili Pay, a pioneering mobile wallet powered by leading Saudi-based telecommunications and digital service provider Mobily, announced a partnership to launch MoneyGram's leading international money transfer capabilities on Mobily Pay. This partnership empowered millions of consumers in Saudi Arabia to use the Mobily Pay mobile wallet to send money in near real-time worldwide.. Key drivers for this market are: Increasing internet and smartphone penetration, Growing E-commerce and Online Shopping Trends; Advancements in Technology. Potential restraints include: Increasing internet and smartphone penetration, Growing E-commerce and Online Shopping Trends; Advancements in Technology. Notable trends are: Growing E-commerce and Online Shopping Trends ​.

The share of cash in Saudi Arabia declined in POS, as credit cards and mobile wallets are increasingly being promoted in the country. The source predicts that cash will stop being the majority payment method in physical stores by 2025 as wallets like Saudi Telecom's STC Pay are expected to see an increasing user count. Few figures are available, however, on how far developed digital payments are in the MENA country. The Saudi Central Bank spoke of a major increase in contactless payments by October 2021, with contactless payments adoption being around 94 percent.

The Saudi Arabian Fintech market is experiencing robust growth, projected to reach $63.90 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) exceeding 6.07% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the Saudi Vision 2030 initiative is actively fostering digital transformation across all sectors, creating a fertile ground for Fintech innovation and adoption. Increased smartphone penetration and internet access among the Saudi population provide a large and readily accessible customer base for Fintech services. Furthermore, government support for digital payments and financial inclusion is stimulating the development of new products and services, particularly in areas like digital lending, online insurance, and money transfer solutions. The rising popularity of e-commerce and the need for efficient and secure online payment systems are also bolstering market growth. Competition is fierce, with established players like Rasanah Technologies and emerging companies such as Tamara vying for market share. The market is segmented by service proposition, encompassing money transfer and payments, savings and investments, digital lending and lending marketplaces, and online insurance and insurance marketplaces. This segmentation reflects the diverse needs of the Saudi market and the breadth of Fintech solutions available. Looking forward, the continued success of the Saudi Fintech market hinges on several factors. Maintaining a supportive regulatory environment that balances innovation with consumer protection will be crucial. Furthermore, addressing any infrastructure challenges and ensuring cybersecurity remain key priorities. The ongoing expansion of digital literacy and financial inclusion initiatives will be essential to reaching underserved populations and further driving market penetration. Successfully navigating these opportunities and challenges will determine the extent of future growth and the continued emergence of innovative Fintech solutions within the Kingdom. Recent developments include: February 2023: Hala, a fintech company in Saudi Arabia, purchased Paymennt.com, a payments service provider based in the United Arab Emirates. With this acquisition, Hala can handle omnichannel payments, integrate digital payments into its product offerings, and help its SME clients become more visible online. According to a press release by Wamda, the platform's payment processing increased by more than 250% yearly., January 2022: The Saudi Arabian Monetary Authority (SAMA) issued licenses to 15 new fintech companies to operate in the country, bringing the total number of licensed fintech companies in Saudi Arabia to 45.. Key drivers for this market are: Faster Transaction Drives the Market, Cost Reduction Drives the Market. Potential restraints include: Faster Transaction Drives the Market, Cost Reduction Drives the Market. Notable trends are: Digital Transformation and Regulatory Support Driving the Market.

The Middle East and Africa Real Time Payments (RTP) market is experiencing robust growth, driven by increasing smartphone penetration, rising e-commerce adoption, and government initiatives promoting digital financial inclusion. The region's young and tech-savvy population readily embraces digital payment solutions, fueling the demand for faster, more efficient transaction processing. A compound annual growth rate (CAGR) of 13.70% from 2019-2033 indicates a significant expansion of the market, with the value expected to reach substantial figures by 2033. This growth is further propelled by the increasing prevalence of P2P (person-to-person) and P2B (person-to-business) transactions, facilitated by major players such as PayPal, Apple Pay, and various regional banks and fintech companies. The market is segmented by payment type, with P2P expected to maintain a significant share due to its convenience and widespread adoption for peer-to-peer transfers and social commerce. However, P2B transactions are also experiencing substantial growth, driven by the expansion of online businesses and the need for seamless, immediate payment processing. Regulatory support and investments in robust payment infrastructure are also contributing factors to the market's expansion across the diverse Middle Eastern and African nations. The continued growth of the RTP market in the Middle East and Africa is projected to be influenced by several key factors. The expansion of mobile money services, particularly in underserved regions, will play a crucial role. Increased financial literacy programs and government incentives aimed at promoting digital payments are expected to further accelerate adoption. However, challenges remain, including addressing concerns about cybersecurity and data privacy, ensuring equitable access across different socioeconomic groups, and navigating diverse regulatory landscapes. Despite these challenges, the long-term outlook for the Middle East and Africa RTP market remains positive, with substantial growth potential driven by technological advancements and ongoing digital transformation initiatives within the region. Companies are strategically investing in enhancing security features and expanding their partnerships to capitalize on this dynamic and rapidly growing market. Recent developments include: February 2022 - Accenture has been selected by the Central Bank of the UAE (CBUAE) to lead a consortium of companies to help execute its National Payment Systems Strategy. In collaboration with SIA, now part of Nexi Group, and G42, Accenture aims to build and operate the National Instant Payment Platform (IPP) in the country., August 2021 - Turkish taxi firm, Taxi 724 piloted a software POS (sPOS) solution provided by Payneer Technology. The new technology will enable NFC enabled Android devices to make contactless payments through an app, it will be accompanied by a prepaid card, for making digital payments.. Key drivers for this market are: Increased Smartphone Penetration, Falling Reliance on Traditional Banking; Ease of Convenience. Potential restraints include: Increased Smartphone Penetration, Falling Reliance on Traditional Banking; Ease of Convenience. Notable trends are: Increased Smartphone Penetration to Drive the Market Growth.

According to a report published by PPRO, the most common card scheme in Saudi Arabia was the local card scheme, dominating the market with about 47 percent of the market share in 2020. 41 percent of the Saudi population used cards as means of payment in 2020.

MEA Payments Market size was valued at USD 40.56 Billion in 2024 and is projected to reach USD 106.45 Billion by 2032, growing at a CAGR of 13% from 2026 to 2032.

Key Market Drivers Increasing Digital Payment Adoption: The MEA Payments Market is thriving due to the surge in digital payment adoption, driven by smartphones, internet penetration, and digital wallets. The UAE's Central Bank reported a 30% increase in digital payments in 2023, driven by its Vision 2021 initiative for a cashless economy. This trend is shaping the future of the payment landscape, especially in urban areas. Government Support and Regulatory Initiatives: Governments in the MEA region are promoting cashless societies through regulations and incentives. Saudi Arabia's Vision 2030 aims to reduce cash usage and promote electronic payment methods. The Saudi Arabian Monetary Authority reported a 15% increase in digital transactions in 2023.

The Middle East and Africa Real Time Payments Market is projected to witness substantial growth over the forecast period 2023-2033, registering a CAGR of 13.70%. The market is driven by increasing adoption of digital payments, growing smartphone penetration, and government initiatives to promote financial inclusion. Favorable regulatory frameworks, coupled with rising consumer demand for instant and seamless payments, further contribute to market expansion. Key market players include VISA Inc., Saudi Digital Payment Company, Fawry, Alphabet Inc., Fiserve Inc., Mastercard Inc., CIB Bank, ACI Worldwide Inc., Paypal Holdings Inc., Samsung Corporation, and Denarii Cash. The market is segmented by type of payment into P2P and P2B, and by region into the Middle East and Africa. Saudi Arabia, United Arab Emirates, Israel, Qatar, Kuwait, Oman, Bahrain, Jordan, and Lebanon constitute the key markets in the Middle East. Recent developments include: February 2022 - Accenture has been selected by the Central Bank of the UAE (CBUAE) to lead a consortium of companies to help execute its National Payment Systems Strategy. In collaboration with SIA, now part of Nexi Group, and G42, Accenture aims to build and operate the National Instant Payment Platform (IPP) in the country., August 2021 - Turkish taxi firm, Taxi 724 piloted a software POS (sPOS) solution provided by Payneer Technology. The new technology will enable NFC enabled Android devices to make contactless payments through an app, it will be accompanied by a prepaid card, for making digital payments.. Key drivers for this market are: Increased Smartphone Penetration, Falling Reliance on Traditional Banking; Ease of Convenience. Potential restraints include: , Stringent Regulations in the Payments Industry. Notable trends are: Increased Smartphone Penetration to Drive the Market Growth.

The Saudi Arabia Digital Wallet Market is projected to grow at a CAGR of 8.80% from 2023-2028. Expanding internet and smartphone usage driving this remarkable growth.

Saudi Arabia Loan Aggregator Market was valued at USD 43.65 million in 2024 and is anticipated to grow USD 63.78 million by 2030 with a CAGR of 6.58% during forecast period

The Kingdom of Saudi Arabia (KSA) payment gateway market is experiencing robust growth, driven by the rapid expansion of e-commerce, increasing smartphone penetration, and the government's initiatives to promote digital transformation. With a 2025 market size of $1.36 billion and a projected Compound Annual Growth Rate (CAGR) of 19.03% from 2025 to 2033, the market presents significant opportunities for both established players and new entrants. Key growth drivers include the rising adoption of mobile payments, increasing preference for contactless transactions, and the growing popularity of Buy Now, Pay Later (BNPL) services. The market is segmented by type (hosted and non-hosted), enterprise size (SME and large enterprise), and end-user industry (travel, retail, BFSI, media and entertainment, and others). The competitive landscape is characterized by a mix of international giants like PayPal, Amazon Pay, and MasterCard, alongside regional players such as STC Pay, PayTabs, and HyperPay, creating a dynamic and competitive environment. The increasing focus on cybersecurity and data privacy regulations presents a challenge, but also encourages investment in robust and secure payment solutions. The dominance of large enterprises in the market is expected to continue, however, the SME segment is projected to witness significant growth owing to government initiatives promoting small business digitalization. The BFSI and retail sectors are currently leading the end-user segments, fueled by a surge in online banking and e-commerce transactions. However, the travel and media & entertainment sectors are also poised for strong growth as digital adoption continues in these industries. Geographic distribution is likely to remain concentrated in major urban centers, with expansion into smaller cities and rural areas likely to occur over the forecast period. Continued government support for digital infrastructure and financial inclusion initiatives will be crucial for realizing the full potential of the KSA payment gateway market. Recent developments include: September 2024: barq, a financial services startup from Saudi Arabia, joined forces with Mastercard. This collaboration aims to provide barq's customers with top-tier payment acceptance solutions via the Mastercard Gateway. Through this strategic partnership, barq will harness the technology of Mastercard Gateway, enhancing its offerings to merchants and consumers across the Kingdom.February 2024: Mastercard teamed up with Loop, a digital payments technology firm licensed by SAMA, to provide businesses and consumers in the Kingdom with enhanced access to advanced credit card offerings and innovative payment solutions. Through this collaboration, Loop will broaden its portfolio and elevate its range of products and services by harnessing Mastercard's technology and expertise.. Key drivers for this market are: Increased E-commerce Sales and High Internet Penetration Rate, Increased Demand for Mobile-based Payments; Growing Adoption of Payment Gateways in Retail. Potential restraints include: Increased E-commerce Sales and High Internet Penetration Rate, Increased Demand for Mobile-based Payments; Growing Adoption of Payment Gateways in Retail. Notable trends are: Increased E-commerce Sales and High Internet Penetration Rate.