News 24 | “SAMA” directs banks and banks to provide electronic payment methods for personal services activities

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Emoji pictureThe Saudi Arabian Monetary Agency (Sama) called on banks, banks and payment service providers operating in the Kingdom to complete its readiness, in preparation for receiving requests to provide electronic payment methods for personal services activities.

She stressed that banks, banks and payment service providers must commit to being ready to receive requests to open bank accounts and electronic wallets for merchants working in personal services activities, as well as being ready to receive requests to provide electronic payment methods authorized by the institution.

She noted the importance of responding to those requests across all different channels, such as branches, the official website and the unified number; to facilitate this requirement for merchants working in personal services activities, and to adhere to the regulatory and operational rules for these services.

The Corporation confirmed to banks, banks and payment service providers the obligation to provide the means of payment using the codes for classifying merchants designated for this sector, while circulating this internally to its employees with this decision to ensure their adequate understanding of it when receiving requests and inquiries in this regard.





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