The Saudi Arabian Monetary Agency “SAMA” issued a circular today (Wednesday) to all banks by raising the limit for the implementation of payments, through bank cards through the technology of short-term communication “Mada Atheer”.
The Corporation raised the payment limit on POS devices from the amount of 100 riyals to 300 riyals per operation, without the need to enter the password, while maintaining the required cumulative limit of 300 riyals.
Local banks and payment service providers through POS devices will begin to apply the circular as of today, March 18, to implement the required technical changes to their systems and components of the national infrastructure gradually.
This comes within the framework of a set of precautionary measures initiated by “SAMA” in order to combat the spread of the emerging infection of the Corona virus, in order to maintain the safety of all customers with electronic payment tools.
The decision enhances the efficiency of the features of payment services through bank cards through “Mada Atheer” on POS devices, which, within its technical characteristics, allowed card holders to complete their payments of less than 100 riyals, without the need to enter the card’s password.