Regulatory Alerts2021-09-21
QR Code Technology
The Saudi Central Bank requires all entities that previously launched QR Code payment services to comply with established technical and commercial standards, complete licensing procedures through Saudi Payments by the end of 2021, and conduct necessary pilot tests. The directive mandates interoperability among licensed banks and fintech companies while ensuring multiple payment options align with ongoing sector developments. Providers must contact the Saudi Payments Licensing Center via email to finalize their onboarding and adhere to the centralized payment environment framework.
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