Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
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SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
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.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
A Payment Initiation Service Provider must obtain consent from the relevant Payment Service User before providing its service.
(2)
A Payment Initiation Service Provider shall not hold, at any time, a Payment Service User’s Funds.
(3)
A Payment Initiation Service Provider shall not modify the amount, the Payee or any other feature of a Payment Transaction that it initiates.
(4)
A Payment Initiation Service Provider must keep all Payment Service Users’ security credentials, including data related to Personalized Security Credentials, secure and inaccessible to other parties.
(5)
A Payment Initiation Service Provider shall not use, access or store any of the Payment Service Users’ data except as necessary to provide the service (and in accordance with its License).
(6)
A Payment Initiation Service Provider shall not provide any other information about the Payment Service User except to the relevant Payee, and with explicit consent from the Payment Service User.
(7)
A Payment Initiation Service Provider may not request from the Payment Service User any data other than that necessary to provide the Payment Initiation Service according to what is required by the nature of this service and what is determined by SAMA.
(8)
A Payment Initiation Service Provider must securely communicate with the Payment Account Service Provider and identify itself for each communication session.
