SAMA raises e-wallet's monthly ceiling limit top-up to SAR 20,000

The Saudi Arabian Monetary Authority (SAMA) raised the top-up of the monthly ceiling limit for e-wallets to SAR 20,000.

The Kingdom’s central bank has already notified the licensed payment service providers (PSPs) about the decision, Saudi Press Agency reported.

The decision aims to boost digital payment transactions, in line with the procedures taken to prevent the spread of the coronavirus.

SAMA added that this measure will ensure the safety of digital payments users, and smoothen the transactions via e-wallets applications provided by those PSPs.

The authority further urged the PSPs to implement a number of procedures in line with the announcement, including supporting clients through appropriate communication channels, as well as announcing related guidance and instructions.