A Payment Service Provider is considered a Micro PI if the following conditions are met:
(a)
Carries on one or more Relevant Payment Services, except issuing Electronic Money;
(b)
Does not provide Relevant Payment Services cross-border to Persons outside the Kingdom;
(c)
Does not exceed the Average Monthly Payment Transaction Value of ten million SAR.
(2)
A Payment Service Provider is considered a Major PI in the event that one or more Relevant Payment Services are implemented, except for the issuance of Electronic Money, and the average value of monthly payments exceeds ten million SAR.
