Effective from Jun 13 2023 - Jun 12 2023 To view other versions open the versions tab on the right
1.
The payment service provider shall verify that the advertising, promotional or marketing materials for the relevant payment services are clear, not misleading and available in the Arabic language. All texts and numbers contained in these materials shall be clearly understood and displayed, and a clear font size shall be used for entire text and all its footnotes.
2.
When providing any advertising, promotional or marketing material for the relevant payment services, the payment service provider shall take into account the following measures:
A.
Advertising, promotional or marketing materials shall include the name of the payment service provider.
B.
Advertising, promotional or marketing materials shall be accurate and shall not focus exclusively on highlighting the benefits of any particular product or service without clarifying any associated risks.
C.
The comparison in advertisements, where the related products or services provided by other service providers are compared, shall be based on a fair and balanced basis.
D.
Information relating to fees, costs or savings shall be accurate and consistent.
E.
Information regarding fees, costs or savings shall be clear and not misleading.
3.
The payment service provider shall ensure that the advertising, promotional and marketing materials have been designed and displayed in a way that makes it clear to any payment service user that these materials are advertisements that are subject to the availability of the product or service or may require the fulfillment of certain standards.
4.
The payment service provider shall apply the approved compliance procedures to review and approve advertising, promotional and marketing materials.
5.
The payment service provider may not send any advertising, promotional or marketing materials to any individual under eighteen years of age, if these materials include any risks that are inappropriate for that category of payment service users.
6.
The SAMA may order the withdrawal of any advertising, promotional or marketing materials for payment services that do not meet the minimum requirements stipulated in the Regulations or are inconsistent with the provisions of the Law.
