mada

mada is the new identity of the Saudi Payment Network (SPAN) and the advanced generation of the electronic payments in Saudi Arabia. It connects all automated teller machines (ATMs) and point-of-sale (POS) terminals throughout the country to a central payment switch that in turn re-routes the financial transactions between a merchant’s bank and the card issuer bank.

mada card is a mada Debit Card from The Saudi Investment Bank issued by local banks that allows a cardholder to access funds in their accounts. And it works in the same mechanism of regular ATMS cards with newer standards of security and added-value features.

mada can be used in all automated teller machines (ATMs) and point-of-sale (POS) terminals offered by local banks throughout the country. Additionally, it can also be used regionally and globally through connecting with other payment systems such as GCC Net, VISA, MasterCard, and American Express to provide mada cardholders with a wider acceptance locally and overseas.

• Increased daily transaction limit on POS terminals from SAR 20,000 to SAR 60,000.
• Convenience to benefit from Naqd service which allows to withdraw cash from merchants’ cash supply in outlets.
• A seven-fold enhanced capacity in comparison to the previous generation.
• An unprecedented standard of enhanced transactions speed and performance.
• A wider reach of usage.
• Instant SMS notifications to cardholders on any cash withdrawals or POS transactions.

The mada Debit Card from The Saudi Investment Bank is accepted at every terminal that displays the mada scheme mark whether it is an ATM or POS within Saudi Arabia. It is also accepted in the GCC thru GCC net.

This service allows customers to request a cash amount of up to SAR 400 right at point of-sale terminals compatible with mada standards. There is no need to visit the ATM, the cash amount will be deducted directly from your personal bank account along with your purchase amount.

Your bank will either replace your current SPAN card or will issue a new card ( if you currently do not have a SPAN card) upon your request.

No. The bank will issue mada card when opening a new account and renewing card free of charge in accordance to SAMA’s rules and regulations.

No. The service is completely free of charge for both merchants and cardholders.

In cases where mada card is lost or stolen, contact your bank directly to report the incident and to have a new mada card issued for you.

Yes. using of mada cards is permissible regionally within the Gulf Cooperation Council (GCC) through GCCnet, and globally when the card is co-branded with other global payment systems such as “Visa”, “MasterCard”, “Cirrus”, “Plus”, and “Maestro”.

No. making payments through POS terminals is completely free of charge on cardholders.

No. No limit is set on the frequency of using your bank card as long as the accumulated amount of purchases equal or below SAR 60,000.

The commercial sector is supervised by the Ministry of Commerce and Industry, and complaints can be filed through the ministry’s website.

https://mci.gov.sa/ServicesDirectory/Pages/CommercialCheatCase.aspx

If you already provide the POS service you may contact your bank directly to upgrade it with mada standards or to enquire on when the bank will approach you to do so. If you want to provide the service for the first time, you can choose to do so through any of the banks listed under the Merchants tab.

• Benefit from the increased daily purchase limit made by cards to SAR 60,000.
• Reduction of the costs associated with cash transactions in terms of time needed to count them, validate paper notes authenticity, and need to always have smaller bank notes available.
• Limit of risks and human errors related to processes of daily inventories and revenues, and accounting bookkeeping.
• Less burden on daily cash collections processes and the hazard to transit funds and deposit it with banks.
• A better position to monitor payment inflows coming into the business and the ability to track sales transactions through different kinds of statements provided by their bank.
• High tendency for sales volumes and values to increase with the growing number of mada Debit Cards from The Saudi Investment Bank in the community.
• Speed and convenience in completing purchase transactions in connection to around the clock help service to ensure quality of service.
• Benefit from banks exclusive offers and rewards programs.

Depending on your business sector, your bank will tailor your POS device to suit your business needs through different connectivity options (mobile (GPRS), dial-up, Internet Protocol (IP)) and a wide choice of POS models.

Yes, the terminal will accept whether SPAN or mada Debit Cards.

It is a mutually signed document that defines the responsibilities of merchants and the bank detailing all elements in relation to the POS service being offered.

Merchants perform the reconciliation activity to ultimately deposit the payments processed during the day into their bank accounts. This process is ideally performed daily when the sales cycle is done.

A merchant service provider (MSP) is a 3rd party agent assigned by the merchants’ banks in accordance to SAMA procedures to provide a full suite of merchant services and support within the context of POS installation and on-going maintenance.

POS service has been offered by banks with specific fees. After all, this fees is subject to the commercial contract signed by both sides. The fees interchange model was recalculated to be in line with global best practices. As a result, acquiring banks are permitted to levy a maximum of 0.80% of purchase value for each transaction up to an Merchant Service Charge (MSC) of SAR 40 (maximum) applies.

• Exemption from installation fees.
• Exemption from terminal fees.
• Exemption from monthly fees.
• Provision of maintenance and help desk around the clock.

MSC is calculated (if applicable) on the basis of the transaction value, For example:

• Example (1): if a customer (cardholder) used his mada Debit Card from The Saudi Investment Bank to pay for goods worth SR 35, then the merchant may be entitled to pay his bank an amount of SR 0.28 only for the service. Customer won’t pay any other fees for using his card to pay.
• Example (2): if a customer (cardholder) used his mada Debit Card from The Saudi Investment Bank to pay for goods worth SR 20,000, then the merchant may be entitled to pay his bank an amount of SR 40 only for the service. Customer won’t pay any other fees for using his card to pay.

No. It is illegal practice and in case occurred then it is a violation of the applicable rules and policies that entail the merchant to its consequences.