SAMA Announces Launch of POS Service Between Saudi Arabia and Qatar
Saudi Gazette report
RIYADH — The Central Bank of Saudi Arabia (SAMA) announced on Thursday the launch of point-of-sale (POS) services between Saudi Arabia and Qatar.
SAMA has revealed that the service will link domestic payment networks Mada and the Qatari National Network (NAPS).
The move will allow Mada and NAPS cardholders to run POS operations in Saudi Arabia and Qatar through the Gulf Clearing Network (GCC-Net), SAMA said.
GCC-Net enables Gulf bank customers to withdraw cash from ATMs in the host country’s local currency.
SAMA has shown that this process will help reduce costs for bank customers who previously performed POS operations through the available global payment card network.
Additionally, the service will contribute to increasing the payment options available to Gulf customers in the retail sector.
We also offer the option to pay with a direct debit card to the Gulf network through POS machines in GCC countries.
SAMA said GCC-Net will enable banking institutions to improve and develop direct debit card payment methods.
The service will also improve the quality of services provided to citizens and residents between Saudi Arabia and Qatar.
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