Regulatory Alerts2022-06-13
The Unified Pricing Model for Point-of-Sale and E-Commerce Services
The Saudi Central Bank (SAMA) mandates that banks and payment service providers implement the Unified Pricing Model for Point-of-Sale and E-Commerce transactions conducted on Mada cards and electronic wallets across money transfer, currency exchange, and international transfer centers. Financial institutions must verify their compliance with this pricing framework and apply it uniformly to all eligible transaction channels as outlined in the 19 April 2020 circular. SAMA requires these entities to submit their compliance confirmation by no later than 15 June 2022 through the designated payment systems oversight email address.
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