Book traversal links for 1-2-أ خدمات الدفع المسبق المقيدة
2-1-A Closed loop Prepaid Payment Services
No: BCT/15631 | Date(g): 2/5/2012 | Date(h): 11/6/1433 | Status: In-Force |
A close loop prepaid products may or may not be reloadable. Closed loop prepaid payment services are not allowed to provide cash withdrawal functionality at ATMs or transfer of funds into a bank account.
An issuer (refer to 1.2.1 Issuing Programme Manager) proposing to operate closed loop prepaid programme must seek SAMA’s “no objection” to the proposed programme at a contracting entity level.
A closed loop prepaid payment service issued in the Kingdom is not allowed to provide cross- border payment functionality, unless permitted by SAMA.