This application is for entities that want to provide payments services in The Kingdom of Saudi Arabia. These entities will be referred to as The Applicant in this form. The applicant may apply to obtain a license - as defined in the Payment Services Provider Regulations- for:

•  - Micro Electronic Money Institution (e-Wallet)(Micro EMI)
•  - Major Electronic Money Institution (e-Wallet)(Major EMI)
•  - Micro Payment Institution (PI).
•  - Major Payment Institution (PI)

The stages of issuing the license vary according to the classification of companies as follows:

-Issuing the license for new companies:

Obtaining the required license for both: new companies (under establishment) and existing companies whose activities do not include providing payment services, involves going through two phases:

• Initial Approval Stage: The company must submit all regulatory requirements in accordance with Article 6.6 of the Regulatory Framework for Payment Service Providers, along with all the essential documents as outlined in Annex (A) of these guidelines. These documents must be signed and officially certified to support the company's request for preliminary approval. This approval is necessary to complete the basic licensing requirements and procedures, including the issuance of the commercial registration and notarization of the Articles of Incorporation with the Ministry of Commerce, in preparation for the final license to be issued by the Central Bank.

• Licensing Stage: The company must submit all the essential documents as outlined in Annex (B), duly signed and officially certified, to support the company's request for the required license to begin providing payment services.

  -Issuing the License for Existing Companies:

  Obtaining the required license for existing companies that provide payment services in the Kingdom involves going through only one phase:

  Licensing Stage: The company must submit all regulatory requirements in accordance with Article 6.6 of the Regulatory Framework for Payment Service Providers, along with all essential documents as outlined in Annex (B). These documents must be duly signed and officially certified to support the company's request for the required license to begin providing payment services.