Saudi Arabia’s e-commerce sector is displaying an impressive growth as proven by the recent study conducted by Timetric.
According to the their data, the value of e-commerce transactions leap frogged from USD 459.9 million (SAR 1.7 billion) in 2010 to USD 2.0 billion (SAR 7.5 billion) in 2014 and was estimated at USD 2.6 billion (SAR 9.8 billion) in 2015. This scenario will boost the adoption of online payments in the country.
Other driving forces for this development are the government’s initiatives to develop and support electronic payments in the country, the increasing purchasing power of Saudi residents and the high mobile penetration.
KSA’s young population, about half are below the age 30, is another promising group of consumers that are ready to adopt digital payments for being so tech savvy.
This trend is forecasted to continue and will definitleydrive the online transactions and hastent he expansion of electronic payments in the country.
1,600,000 Merchants ?
Thailand is an amazing country with huge potential. Today the must successful bank have for the last few years triple their number of
POS terminals, so called card acceptance terminals and now reached more than 120,000 locations.
e-Money in Thailand
Bang of Thailand informed the market players on August 14 how to handle and make rules for e-money A few interesting things,
worth to be mentioned is:
Bank of Thailand give guidelines that e-money issuers can put an expiration date. That's is very surprising due to the fact that there is an Consumer Act saying the opposite, issuer of electronic values can not put an expiration date.
If you have a card or an account with e-money and you go to an ATM machine to withdraw TB 100.00 but your balance is only TB 80.00, the provider, the issuer is not allowed to give a credit. e-money must be bought and then later used or withdrawn. Provider must allow you to withdraw the value.
So in reality today, August 2014 when mobile phone operators in Thailand, give you an AUTO CREDIT when your account run low, that is not allowed
There is a limit that an e-money card or voucher only can have TB 50,000 but no limitation on how many you can buy.
The way you find ViA
The SPACE in the shop has a value, you agree? So it is also important to see how much and where in the shop you have the best earnings.