In reference to the strategy of SAMA, which primarily aims to reduce cash transaction volumes and support the spread of electronic payment adoption through bank cards, especially via point-of-sale devices in stores, and the role of SAMA in monitoring and encouraging all stakeholders to strive toward achieving the main objectives of this strategy, with the aim of fulfilling the aspirations of the Kingdom under Vision 2030 regarding initiatives to develop the financial sector, and to meet the requirements of the local market, particularly for commercial sectors with high-ticket purchases, and further to SAMA’s circular No. 351000073726 dated 08/06/1435H concerning increasing the daily limit for purchase transactions through point-of-sale devices.

We would like to inform you that SAMA has decided to allow banks to raise the maximum payment limit via point-of-sale devices to 200,000 SAR based on customer requests and the bank's assessment, provided that the following is taken into consideration:

1. Complete the necessary technical requirements in coordination with the Mada Authorization Center in the General Directorate of Payment Systems and conduct pre-testing, as well as submit monthly reports for the first three months on the implementation results.
2. All banks must allow the purchase limit adjustment without additional fees through one of the bank's electronic channels, enabling customers to access the service from within and outside the Kingdom. These channels should be mentioned in the terms and conditions agreements at the start of the banking relationship with the customer after this circular's date.
3. Banks should conduct awareness campaigns across all electronic channels for their customers in both individual and merchant categories regarding the possibility of raising the purchase limit.
4. All banks should develop (fraud monitoring and detection systems) in accordance with these new amendments.

Additionally, starting from 30/09/2018G, all banks can control increasing this limit to more than 200,000 Riyals for customer segments wishing to increase it based on their risk assessment, and they must notify SAMA regarding the approved purchase limits for each category of their customers accordingly.

For your information and to act accordingly, please inform all relevant departments and branches, and share the plan of action with SAMA to meet the requirement of raising the limit at the following email address: (bd.btd@sama.gov.sa).