Back to Services
Licensing for E-Payment Companies

The Licensing Service for Electronic Payment Companies is provided by relevant authorities in Saudi Arabia to regulate the FinTech sector and ensure the provision of secure and efficient payment services. The service aims to support innovation in financial technology and enhance trust in digital financial systems, aligning with Saudi Vision 2030.

The service includes issuing and renewing licenses for companies offering electronic payment services, such as payment gateways, digital wallets, and mobile payment solutions. Licensing requirements include submitting a feasibility study, a technical business plan, proof of technical capabilities, and compliance with cybersecurity standards.


Service Features
Service Requirements
Promoting Technological Innovation: Supports the development of innovative financial solutions.
Sector Regulation: Ensures companies comply with safety and quality standards.
Attracting Investments: Provides a clear regulatory environment for investors.
Vision 2030 Alignment: Enhances digital transformation in the financial sector.
Feasibility Study: Includes market analysis and projected revenues.
Technical Business Plan: Details the technical solutions and scope of services offered.
Cybersecurity Certifications: Demonstrates compliance with data protection standards.
Adequate Capital: Proof of financial capability to operate the company.
System Testing Reports: Confirms the technical readiness of the solutions.
To who the service is directed
building-community
Institutions
clock-check
Duration of service
The licensing process typically takes 30 to 60 working days
Frequently Asked Questions
Who can apply for an electronic payment company license?
Any FinTech company that meets the legal and technical requirements can apply.
What is the validity period of the license?
The license is valid for one year and can be renewed annually.
What are the required security standards?
Companies must comply with cybersecurity standards approved by the relevant authorities to protect user data.
Inquiry about the service
For more information about (Licensing for E-Payment Companies), you can book your free consultation now with the experts at Ahmed Bashammakh Group for Business Services.
Notes
The response time from a 30 minutes to 24 hours