POS Payment Service of GCC Net

Saudi Central Bank (SAMA)

Reference No.: 43103118
Date: 20/12/1443 (AH)
Attachments: None

Circular

To Whom It May Concern,

Subject: POS Payment Service of GCC Net.

In continuation of the Saudi Central Bank instructions issued pursuant to Circular No. (462.7/41) dated 20/10/1439 AH, and Circular No. (371.000.59) dated 14/9/1437 AH, regarding the POS Payment Service of GCC Net (GCC-NET) and its associated tariff, and in completion of the ongoing work between the central banks of the Gulf Cooperation Council (GCC) countries aimed at integrating payment systems among GCC states, and referring to what has been agreed upon in the periodic meetings of the governors of the central banks of GCC countries on linking the POS networks of these states to the GCC Net payment network, and considering that this is a key pillar in integrating the payment systems among GCC states, and enhancing and supporting joint cooperation among GCC countries.

Please be informed that the activation of the POS Payment Service of GCC Net in Qatar for POS acceptance is effective as of 1/8/2023 AD, and accordingly, banks and financial institutions are required to comply with the following:

First: Taking the necessary technical and operational measures to accept and process transactions on their systems and affiliated POS terminals, in order to complete purchases via POS between the Kingdom and Qatar.

Second: Taking the necessary commercial measures with their customers, namely holders of GCC Net cards and merchants accepting GCC Net cards, to ensure transaction processing in accordance with approved tariffs.

Third: Notifying and informing customers, holders of GCC Net cards, that purchase transactions in Qatar will be processed through the payment network of NAPS (National Automated Payment System) linked to GCC Net.

Fourth: Processing and accepting all GCC Net transactions using their cards bearing the GCC Net logo, as well as accepting GCC Net cards on their POS terminals.

For information and action effective from the activation date mentioned above.

The President
Yours sincerely,
Khaled bin Walid Al-Zaher
Deputy Governor for Regulation and Technology

Distribution Scope:

• Banks and financial institutions operating in the Kingdom
• Saudi Payments Company

P.O. Box 2992, Riyadh 11169, Kingdom of Saudi Arabia | Tel: +966 11 463 3000