Referring to the strategy of the central bank, 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 the central bank 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 following up on the central bank’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 the central bank 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 discretion, provided that the following is taken into consideration:

1. Completing the necessary technical requirements in coordination with the Mada Licensing Center at the General Administration of Payment Systems, conducting the necessary pre-tests, and providing monthly reports for the first three months on the results of implementing the regulation.
2. All banks must provide the option to modify the purchase limit without additional fees through one of the bank's electronic channels, at a minimum, enabling their customers to access the service from both inside and outside the Kingdom. Additionally, these channels should be referenced in the terms and conditions agreements when initiating the banking relationship with the customer after the date of this circular.
3. Banks should conduct awareness campaigns through all electronic channels for their customers, both individuals and merchants, regarding the possibility of increasing the purchase limit.

4. All banks must develop fraud monitoring and detection systems in accordance with these new amendments.

   Additionally, starting from September 30, 2018, all banks can increase this limit to more than 200,000 SAR for customer segments wishing to raise it, based on their assessment of potential risks, and must notify the central bank regarding the approved purchase limits for each of their customer categories in a timely manner.

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