Petrol stations in Saudi Arabia soon to start accepting e-payments

Petrol stations in Saudi Arabia soon to accept e-payments. (AN file photo)
Updated 12 July 2019

Petrol stations in Saudi Arabia soon to start accepting e-payments

  • Banks are ready to provide machines upon requests from operators, and that those who do not fulfil this obligation will be dealth with by inspectors

RIYADH: Petrol stations in the Kingdom will start accepting e-payments via the Saudi Payments Network (MADA) from July 17.

Ziad Al-Yousef, managing director of MADA, said it has provided 4,000 e-payment machines to petrol stations and services stores.

He added that banks are ready to provide machines upon requests from operators, and that those who do not fulfil this obligation will be dealt with by inspectors from the Ministry of Commerce and Investment (MoCI).

Abdulaziz Al-Barrak, deputy head of the national committee for petrol stations, said all 12,000 of them in the Kingdom will have to implement the initiative or face a fine.

Economist and financial analyst Talat Zaki Hafiz told Arab News that the initiative is in line with the Financial Sector Development Program (FSDP), which is striving for a cashless society and to reach an e-payment target across the Kingdom of 70 percent by 2030.

He said customers will be entitled to file a complaint of non-availability of service via the ministry’s various channels.

“The fuel station sector is required to provide the terminals and electronic payment at its stations and service facilities,” Hafiz added.

Saudi banks have been asked to be ready to receive requests from the petrol sector and respond to them through all the different banking channels such as branches as well as internet banking and telephone banking.

“Objections can also be submitted to banks that have not complied with, either by delaying the process or not providing the necessary maintenance for devices,” he said.

On possible challenges, Hafiz said that the most important challenges that may face the initiative in the coming period is the lack of commitment of the target sector to request and provide devices to their locations during the period following the ministerial decision, as the announcement was made more than three months ago.

He added that the customers will be entitled to file a complaint of non-availability of service after the target date through the different channels of the MoCI.


Saudi minister hails ‘special relationship’ with Japan

Updated 22 October 2019

Saudi minister hails ‘special relationship’ with Japan

  • “We share common values,” said Majid Al-Qasabi

TOKYO: Saudi Arabia has a “special relationship” with Japan, which is “reliable strategic partner and friend” of the Kingdom, the Saudi Minister for Commerce and Investment Majid Al-Qasabi said on Monday.

The minister was speaking at the launch in Tokyo of the Japanese-language online edition of Arab News, in the latest stage of its global expansion. The event came on the eve of Tuesday’s ceremonial enthronement of Emperor Naruhito in the Japanese capital. “This is a great opportunity, a moment in history,” Al-Qasabi said.

The news website, published in Japanese and English, will focus on enabling the exchange of information between Japan and the Arab world in business, current affairs, and arts and culture. “It will be good to have news in Japanese so many Japanese can read about the Arab world,” Japan’s Defense Minister Taro Kono said at the launch.

Common values

“We share common values, we have a high respect for the elders and we think that the family is very important … to me we are friends and I think we need to work together.

“In order to do that we need to know what people in the Middle East are actually thinking, what is happening on a daily basis, and we haven’t got the source for that — but now Arab News is in Japan.

“This is a very good means to exchange information between the Middle East and Japan, so I am very much looking forward to it.”