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

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

Post by : Anis Karim

June 21, 2025 12:29 p.m. 4066

Photo: Shutterstock

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.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel

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.

#Best News Network In Dubai

Umno Considers Rejoining Former Members Through Rumah Initiative

Umno is set to review re-entry applications from former members at an upcoming council meeting in Me

April 16, 2026 5:36 p.m. 145

Wasl Gate Opens Massive Central Park in Dubai Community

Wasl Group opened Central Park at Wasl Gate in Jebel Ali, a 82,700 sqm community space with sports,

April 16, 2026 5:32 p.m. 153

Setback for Malaysia as Pearly Tan Withdraws from Uber Cup

Pearly Tan's withdrawal due to injury creates challenges for Malaysia in the upcoming Uber Cup Final

April 16, 2026 5:28 p.m. 148

Strengthening Ringgit Stands Out as Malaysia Gears for GDP Data

As Malaysia anticipates its 1Q 2026 GDP data, the ringgit shows impressive strength against the US d

April 16, 2026 5:22 p.m. 153

Kuala Lumpur Robbery Incident Sees Six Arrested, Including Cop

Six individuals, including a police officer, face charges for gang robberies in Kuala Lumpur involvi

April 16, 2026 5:12 p.m. 142

UAE, Kazakhstan Leaders Boost Bilateral Cooperation Ties

UAE and Kazakhstan leaders discuss boosting bilateral ties, enhancing cooperation across sectors, an

April 16, 2026 5:11 p.m. 157

Explore Tara Sutaria’s Stylish abode in Mumbai

Step inside Tara Sutaria's chic Mumbai home, showcasing her personal touch and passion for design du

April 16, 2026 4:59 p.m. 149

UAE Central Bank Issues New AML Rules to Fight Crime

UAE Central Bank releases new AML/CFT guidelines to boost financial security, improve compliance, an

April 16, 2026 4:56 p.m. 155

Canada Offers $120 Million in Humanitarian Aid as Sudan Conflict Surges

In light of the escalating war in Sudan, Canada pledges $120 million to aid humanitarian efforts, ad

April 16, 2026 4:36 p.m. 164
Sponsored
https://markaziasolutions.com/
Trending News

7 Daily Habits to Burn Belly Fat Naturally

Discover 7 simple daily habits to burn belly fat naturally without extreme dieting. Easy, effective

April 15, 2026 4:23 p.m. 246

Power of Compounding: How $5,000 Can Grow Into $120,000

Discover how compounding turns $5,000 into $120,000 over time. Learn long-term investing strategies

April 15, 2026 1 p.m. 327

When to Test Blood Sugar: Morning vs After Breakfast Explained

Should you check blood sugar fasting or after meals? Learn the best time to test glucose levels and

April 15, 2026 12:19 p.m. 230

WhatsApp Down Today? Users Report Strange Issue Worldwide

WhatsApp users report message delays and strange issues worldwide. Find out what happened, why it oc

April 15, 2026 11:55 a.m. 246

Is Your Phone Spying on You? 6 Android Settings to Turn Off Now

Worried your phone is spying on you? Learn 6 Android settings to turn off now to protect your privac

April 14, 2026 12:28 p.m. 277

7 Protein-Rich Indian Foods You Should Add to Your Daily Diet

Discover 7 protein-rich Indian foods to boost your daily protein intake naturally without supplement

April 14, 2026 11:47 a.m. 275

Is It Safe to Keep Laptop Plugged In All the Time? Battery Truth Explained

Is it safe to keep your laptop plugged in all day? Learn the truth about battery health, charging ha

April 14, 2026 11:28 a.m. 243

Actual Cost of Living in Dubai for a Family : Rent, School Fees & Monthly Expenses

Discover the real cost of living in Dubai for a small family in 2026, including rent, school fees, g

April 13, 2026 3:17 p.m. 284