Regulatory Alerts2020-06-21
Upgrading Point-of-Sale Devices Operating in the Kingdom to 4G Technology
The Saudi Arabian Monetary Authority (SAMA) and Saudi Payments, in coordination with the Communications, Space and Technology Commission, mandate that all Point-of-Sale (POS) devices operating in the Kingdom be upgraded to 4G technology. Suppliers must provide and submit 4G-compatible devices for technical verification by June 2020, while banks and acquiring entities are required to replace at least 4% of their existing POS devices monthly starting January 2021. This phased replacement plan aligns with the scheduled decommissioning of 3G and 2G mobile networks by late 2023 and fourth quarter 2024, respectively.
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