In line with SAMA's strategies for payment systems and the financial sector development program aimed at enhancing electronic payments and reducing cash transactions. In order to enhance the current efforts and initiatives to address the impacts of the spread of the COVID-19 virus, as well as continuing the national efforts to combat commercial concealment by gradually requiring the retail sector to provide electronic payment methods.

The program, in cooperation with SAMA, the Ministry of Municipal and Rural Affairs, and the Ministry of Commerce, has mandated all grocery stores and supply shops in the Kingdom to provide electronic payment methods starting from 17 Ramadan 1441H, corresponding to May 10, 2020G, to ensure the success of these efforts and readiness to meet the expected demand, all banks, and payment service providers must adhere to the following:

• Readiness to respond to requests for opening bank accounts and electronic wallets for traders operating in the grocery and supply sector.
• Readiness to receive requests for providing electronic payment methods approved by SAMA (POS devices or QR codes) and to respond to them through various channels such as branches, the official website, and the unified number, among others, to facilitate this requirement for traders working in this sector, while adhering to the regulatory and operational rules for these services.
• Commitment to using the merchant category code (Merchant Category Code) designated for this activity, which is 5411.
• Internally communicate this decision to bank employees and payment service providers to ensure they fully understand it when receiving requests and inquiries in this regard.