Fortumo Mobile Payments Now Available in Saudi Arabia and Kuwait!

Summer holidays are at their peak but this doesn’t stop good news and hard work. In July we added two countries from MENA region – Saudi Arabia and Kuwait.

Saudi Arabia is a leading mobile market. With an estimated population of 27 million, mobile subscribers have passed 56.1 million, making mobile penetration rate as high as 200%.  Another surprising fact is that 60% of the Saudi users already own a smart phone.  At the same time there is still room for growth in the Internet connections – the number of Internet users is 12.5 million (representing 44% of the population). This statistics puts Saudi Arabia strongly on the map for mobile services.

Besides the growing mobile market, e-commerce has seen a significant shift in the past couple of years in the Middle East. Around 39% of the adult internet users in Saudi Arabia buy products and pay for services online through e-commerce services.  Also, in the past few years video gaming has exploded in the country. A survey found that gaming accounts for 41% of online purchases, more than any other single category of online shopping, while 87% of gamers are under 25 years old.

Kuwait, country with population of about 3.5 million, also represents a strong digital market. Already in June 2009, the mobile penetration rate in Kuwait peaked 125% with the total number of mobile subscribers reaching ~3.56 million.

One of the main reasons for the high penetration rates, both in Kuwait and elsewhere in the region, is thought to be the significant level of multiple SIM ownership. Yet the mobile penetration in Kuwait is expected to grow even further.

Saudi Arabia and Kuwait both show a great potential in the mobile sector. Don’t miss out and create your mobile payment service there today!