Based on SAMA's strategy for payment systems and the Financial Sector Development Program aimed at promoting electronic payments and reducing cash transactions to achieve a target of 70% electronic payments by 2030, and as a continuation of SAMA's efforts to support the activation of electronic channels through the implementation of the Integrated Digital Payments Strategy to enhance the level of electronic services provided, and the efforts of the National Program for Combating Commercial Concealment by gradually mandating 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 that all retail sector activities in the Kingdom - which were not previously obligated - provide electronic payment methods starting from 06/01/1442 H, corresponding to 25/08/2020 G. In order to ensure the success of the efforts to implement this decision and to ensure full readiness to meet the expected volume of demand, all banks and payment service providers must comply with the following:

• Readiness to respond to all requests for opening accounts and e-wallets for merchants operating in all retail sector activities.
• Readiness to respond to all requests for the installation of electronic payment methods authorized by SAMA, including (Mada point-of-sale devices and electronic wallets) through various communication channels such as the official website, the unified number, and others, and adherence to all regulatory and operational rules for these services.
• The commitment – when providing the means of payment – to use the specific Merchant Category Codes (MCC) accurately according to the nature of the business activity.
•  Internal notification to branches, customer service, and relevant departments to inform them of the decision and its implications, and to ensure their understanding when receiving inquiries from the public.