Saudi retailers not obligated to accept credit cards: SAMA

17/02/2018 Argaam

 

Retailers in the Kingdom are not obligated to accept credit cards from customers, Al-Eqtisadiah newspaper reported, citing the Saudi Arabian Monetary Authority (SAMA).

 

SAMA, the Kingdom’s central bank, said that such an obligation depends on whether the merchant has signed an agreement with the point-of-sale service provider.

 

Shops will not be fined for refusing to accept credit cards from customers, as long as they did not sign agreements with service providers to do so.

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