Book traversal links for 1-2-أ خدمات الدفع المسبق المقيدة
2-1-A Closed loop Prepaid Payment Services
Effective from Jan 31 2025 - Jan 30 2025
To view other versions open the versions tab on the right
A close loop prepaid products may or may not be reloadable. Closed loop prepaid payment services are not allowed to provide cash withdrawal functionality at ATMs or transfer of funds into a bank account.
An issuer (refer to 1.2.1 Issuing Programme Manager) proposing to operate closed loop prepaid programme must seek SAMA’s “no objection” to the proposed programme at a contracting entity level.
A closed loop prepaid payment service issued in the Kingdom is not allowed to provide cross- border payment functionality, unless permitted by SAMA.