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Article 68

No: 000044093096 Date(g): 13/6/2023 | Date(h): 24/11/1444 Status: In-Force

 

 (1)A Payment Service Provider must ensure that any advertising or promotional or marketing material for its Relevant Payment Services is clear and not misleading and must also be made available in the Arabic language. All text and numbers stated in such material should be clearly visible and understandable, with a legible font size used for all text, including footnotes.
 
 (2) 

A Payment Service Provider must take into account the following when presenting any advertising or promotional or marketing material relating to a Relevant Payment Service:
 

(a)Promotional, Advertising, or marketing materials must include the name of the relevant Payment Service Provider;
 
(b) Promotional, Advertising, or marketing materials must be accurate and not emphasize the benefits of a particular product/service without also presenting any relevant risks;
 
(c) Comparative advertising must compare the relevant products or services of other Payment Service providers on a fair and equivalent basis;
 
(d)Information on fees, costs, or savings should be accurate and identical;
 
(e)Information on fees, costs or savings should be clear and not misleading;
 
 (3) A Payment Service Provider must ensure that advertising and promotional or marketing material is designed and presented so that any Payment Service User can reasonably be expected to understand that it is an advertisement and that the availability of the product or service may require the Payment Service User to meet certain criteria.
 
 (4) A Payment Service Provider must maintain a formal compliance process for reviewing and approving advertising and promotional or marketing material.
 
 (5)A Payment Service Provider must not send promotional material to any natural person under the age of eighteen years where such material presents an unsuitable risk to such Payment Service Users.
 
 (6) SAMA may order the withdrawal of any advertising or promotional or marketing materials by the Payment Services that do not meet the minimum requirement of this Implementing Regulation or do not comply with the provisions of the Law.