{"id":296827,"date":"2021-08-04T17:28:03","date_gmt":"2021-08-04T20:28:03","guid":{"rendered":"https:\/\/anba.com.br\/?p=296827"},"modified":"2021-08-06T19:39:26","modified_gmt":"2021-08-06T22:39:26","slug":"youth-reduce-use-of-cash-in-saudi-arabia","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/youth-reduce-use-of-cash-in-saudi-arabia\/","title":{"rendered":"Youth reduce use of cash in Saudi Arabia"},"content":{"rendered":"<p>S\u00e3o Paulo \u2013 Saudi Arabian youth are using less cash than older generations, a sign that Saudi plans to create a cashless society are working. The news was published on the <a href=\"https:\/\/www.arabnews.com\/node\/1905436\/business-economy\" target=\"_blank\" rel=\"noopener\">Arab News<\/a> website this Wednesday (4).<\/p>\n<p>A report by Fintech Saudi points out only 18% of Saudis aged between 16 and 22 use cash. Among the population aged 60 and over, this percentage is almost 50%. Fintech Saudi is an organization working to develop the financial services technology industry in the country.<\/p>\n<p>The survey also brings data on the use of cash in some regions. In the central region of Saudi Arabia, which includes the capital Riyadh, 20% of people use paper money in their financial transactions. In the western region, the percentage is 37%.<\/p>\n<p>Fintech Saudi\u2019s report shows the COVID-19 pandemic has led to an acceleration of cashless transactions, with digital payments growing 75% last year and ATM withdrawals dropping 30%.<\/p>\n<p>However, the use of cash is far from extinct, even though the number of transactions using it has decreased. The survey shows that if the entire Saudi population is considered, 60% use cash at least once a week, and one in four people use it every day.<\/p>\n<p>The Saudi goal is to make cashless currency transactions account for 70% of the country. The goal is part of Vision 2030, the country\u2019s strategic plan for economic diversification and growth.<\/p>\n<p><strong>Translated by El\u00fasio Brasileiro<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Among Saudis aged 16 to 22, only 18% use cash, according to a survey by Fintech Saudi. The usage is much higher among the older population, but the government targets the growth of digital payments.<\/p>\n","protected":false},"author":2316,"featured_media":296813,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[114],"tags":[22632,22636,22630,16686,22637,28706,22628,22631,22633,22635,22638,22629,22634],"class_list":{"0":"post-296827","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-cash","9":"tag-digital-financial-transaction","10":"tag-digital-payments","11":"tag-fintech-saudi-en","12":"tag-fintechs-en","13":"tag-fintechs-en-2","14":"tag-money-in-saudi-arabia","15":"tag-paper-money","16":"tag-rials","17":"tag-riyal","18":"tag-riyals-en","19":"tag-saudi-money","20":"tag-saudi-rials"},"wps_subtitle":"Among Saudis aged 16 to 22, only 18% use cash, according to a survey by Fintech Saudi. The usage is much higher among the older population, but the government targets the growth of digital payments.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/296827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=296827"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/296827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/296813"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=296827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=296827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=296827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}