Based on the powers granted to the central bank pursuant to The system issued by Royal Decree No. M/36 dated 4/11/1442 (Hijri calendar). The Banking Control   .System issued by Royal Decree No. M/5 dated 22/2/1386 AH reference to Circular No. 391000075005 dated 1439/07/02</a>The text addresses the matter of providing internet purchasing services using Mada bank cards, which includes a pricing model for Mada e-commerce transactions.

We would like to inform you that the fees for electronic wallet loading transactions using Mada cards through the e-commerce pathway have been modified as follows:

Setting the Merchant Service Charge to be a fixed fee with a maximum of 1.5 riyals, instead of the previous fee which was set at 1.75% of the transaction value.
   

Setting the interchange fee at a fixed rate (50 halalas), instead of the previous fee set at 0.70% of the transaction value.
      The Central Bank emphasizes to banks and payment service providers the need to adhere to the following instructions:
 

The use of the fees specified above is restricted to electronic wallet top-up transactions using Mada cards through the e-commerce pathway. 
   
           The commitment to using the classification code MCC: (6540) when providing wallet top-up services with Mada cards through e-commerce channels.
  Clarify the details of all fees in the new Merchant Service Agreements and update the current agreements accordingly, ensuring that the other party, the merchant, accepts them before signing.
      For your information and to act accordingly from the date 2021/10/01.