This document outlines the Payment Services Provider Regulations issued by the Saudi Arabian Monetary Authority (SAMA). It establishes the licensing requirements and operational guidelines for payment service providers operating within Saudi Arabia. The regulations cover various aspects, including licensing procedures for different types of providers and the scope of permissible payment services.
Key requirements
- Obtain a license from SAMA to operate as a payment service provider.
- Comply with specific licensing requirements based on the type of payment service offered (Micro PI, Major PI, Micro EMI, Major EMI).
- Meet common requirements for all applicants, including providing necessary documentation and information.
- Adhere to SAMA's evaluation criteria during the licensing application process.
Applies to: Payment service providers operating in Saudi Arabia, including Micro PIs, Major PIs, Micro EMIs, and Major EMIs.