Saudi central bank raises monthly e-wallet top-up to 20,000 riyals

The Saudi Arabian Monetary Authority has informed licensed Payment Services Providers (PSPs) in the Kingdom with its decision to raise the allowed top-up of the monthly ceiling limit for e-wallets up to 20,000 riyals.

The decision was taken an additional precaution by the monetary authority against possible coronavirus transmission as well as boosting digital payment transactions.

“This should contribute to the hygiene of the users of the digital payments, and smoothen their payment transactions via e-wallets applications provided by those PSPs,” the Saudi central bank said in a statement.

It also emphasized that PSPs should implement a number of procedures in accordance with its latest pronouncement, including the provision of needed support to the clients by providing the appropriate communication channels, as well as issuing guidance and instructions on the services they provide.