Saudi Central Bank Eases Credit‑Card E‑Wallet Fees: Free Top‑Ups & Lower Charges

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The Saudi Central Bank (SAMA) has announced new regulations effective late 2024, ending credit-card fees on e‑wallet top‑ups and lowering merchant charges—a decisive effort to spur digital payments and align with the Vision 2030 roadmap.

Previously, topping up e‑wallets via credit card could incur cash-advance fees (~SAR 86+VAT), as outlined in bank terms. Reddit users reported sudden charges from banks like SAB—prompting complaints and refunds after SAMA clarified policy.

Under the revised framework, e‑wallet providers cannot label top‑ups as cash advances. This adjustment ensures users can reload digital wallets without penalty, supporting everyday digital transactions that drive national cashless targets—79% of retail payments were electronic in 2024, up from 70% in 2023 .

SAMA also updated merchant fee structures, incentivising acceptance of cards and e‑wallets across businesses. Combined with mandated contactless infrastructure, the lower fees reinforce broad adoption of digital payments and support SMEs in joining the ecosystem.

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The policy ensures e‑wallet providers implement multi-level identity checks, transaction tracking, and standardized wallet classification—fortifying user safety and compliance as per SAMA's mandates .

Fintech leaders welcome the changes. With top-up flexibility and reduced merchant costs, digital wallets like STC Pay, Mada Pay, and emerging BNPL platforms stand to grow significantly. Integration with global wallets—such as Apple Pay, Google Pay, and Samsung Pay—is also expected to accelerate, now that reload limitations are gone.

Experts note that Saudi’s reliance on cashless payments—now at 57% of all transactions—will parlay new policy into deeper digital engagement from consumers and merchants alike.

In summary, these SAMA reforms eliminate barriers to digital-wallet use via credit card, reduce the cost of payments, and reinforce regulatory standards—all reinforcing the Kingdom’s push toward a modern, fintech-driven payments economy.