Based on the Banking Control Law issued by Royal Decree No. M/5 dated 22/02/1386 H, and with reference to the powers vested to SAMA under the Minister Council Decision  No. (226) dated 2/5/1440 H, confirming that it is the competent authority to operate, monitor and supervise payment and financial settlement systems and services in the Kingdom, and may issue rules, instructions and licenses according to the standards it applies in this regard, and based on Article III of the Payment Services Providers Regulations , which stipulates that "the invitation or Urging any person present in the Kingdom to conclude or enter into an agreement relating to one or more payment services, marketing or promoting them is considered a practice of payment services in the Kingdom and requires obtaining a license from SAMA; and according to what is stipulated in Article Eight regarding the obligation to develop policies and procedures for detecting fraud cases and the mechanism for dealing with them, in addition to informing the competent authorities in the State and notifying SAMA in accordance with the formula determined by it.

SAMA would like to emphasize the importance of verifying the effectiveness of the procedures followed to adhere to the principle of know your customer before proceeding with the process of selling or operating POS devices, and that the party entrusted with the marketing and promotion tasks of the devices is licensed by SAMA, in addition to the importance of verifying the comprehensiveness and appropriateness of the internal policies and procedures set by the company for all categories of customers benefiting from these services, so that they include identifying the types of potential risks and the mechanism for monitoring, managing and reporting on them, and we would like to emphasize that it is important to verify that the POS terminal is only linked to the customer's bank account and that it is not accepted to transfer it to someone else's account.