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SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
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The Payment Account Service Provider must refund the Payer the amount of the non-executed or defective Payment Transaction and bring the debited Payment Account back to the position in which it would be if there were no defective Payment Transaction.
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When requested by the Payment Account Service Provider, the Payment Initiation Service Provider must promptly compensate the Payment Account Service Provider for any loss forthwith as a result of the refund to the Payer. This is if the Payment Initiation Service Provider cannot prove that:
Within the Payment Initiation Service Provider’s sphere of influence, the Payment Transaction was authenticated, properly recorded and not affected by a deficiency connected to the non-execution, defective or late execution of the Payment Transaction.
