​In accordance with the authority vested in the Saudi Central Bank (SAMA) under the provision of the Saudi Central Bank Law - issued by Royal Decree No. M/36 dated 11/04/1442H and the Law of Payments and Payment Services - issued by Royal Decree No. M/26 dated 22/03/1443H, which refers that SAMA has the mandate to carry out supervisory and control tasks over financial institutions, including regulating the payment systems and services sector as well as licensing.

Types of Licenses:

1. Establishing a micro payment institution.

2. Establishing a major payment institution.

3. Establishing a micro electronic money institution (e-wallets).

4. Establishing a major electronic money institution (e-wallets).

The Guidelines:

Applicants wishing to engage in the payment systems and services business, should review the following documents:

• Payments Laws and Regulations.
  

• Payments Instructions and Rules.

• Circulars Issued to the Payment Systems and Services Sector.

• Guidelines for Applying for a License to Provide Payment Services.

Application Forms:

For better service, please read the requirements stipulated in the Guidelines before filling out the application forms:

• License Application Form.

• Fit and Proper Form.

Application Process:

The applicant shall submit  an application to SAMA using the License Request Form, complete with all information including prerequisite documents and files, and then submit it via email: (LICPayments@SAMA.GOV.SA).

If any changes occur to the given information by license applicant prior to SAMA's decision on the application, the license applicant shall notify SAMA as soon as possible.