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Effective from Jun 13 2023 - Jun 12 2023 To view other versions open the versions tab on the right
1.
A payment service provider offering card-based payments may request the payments account service provider to confirm the availability of funds in the payer's payments account for the purpose of executing the payment transaction associated with the service provided, taking into account obtaining the payer’s authorization before submitting the confirmation application and applying the authentication and secure communication requirements determined by SAMA.
2.
When receiving an application to confirm the availability of funds from the payment service provider, the payments account services provider shall provide the required confirmation immediately by responding “yes” or “no,” if the application meets the following conditions:
A.
Access to your accounts payments online when the payments account services provider receives an application.
B.
The payer's prior authorization to the payment service provider includes the authority to respond to the payment service provider's applications.
3.
The payments account service provider shall notify the payer, upon request, of applications received from the payment service provider and the responses thereto.
4.
The payments account service provider shall be prohibited from including data on the account balance or retaining funds on the payments account when responding to an application to confirm the availability of funds under this Article.
5.
A payment service provider submitting an order under this Part shall be prohibited from storing or using any confirmation received for any purpose, other than executing a card-based payment requested.
6.
The provisions of this Article shall not apply to payment transactions generated through stored electronic money and executed using card-based payments.
