Close Close
  • mada Prepaid Cards

    Prepaid cards are linked to prepaid records and are intended to be used on the principle of “light account" structures in accordance with the Regulatory Rules for Prepaid Payment Services in the Kingdom of Saudi Arabia issued in 2012. These records offer limited functionality compared to standard bank accounts, providing only transactional services at POS terminals and ATMs, bill payment through SADAD, and remittance services.

    Based on the type of program and the product specifications in general, these electronic records are used to provide basic payment services, such as ATM cash withdrawals, POS purchases, and SADAD bill payments, and they offer SMS/online/ATM-based record maintenance, that is, a transaction history.

    Standard banking services are not provided through these records. Nor can they be used to initiate record-to-record transfers unless the beneficiary is a SADAD corporate biller and/or international remittance beneficiary. Furthermore, prepaid records do not allow for automated or teller-less cash funding (e.g., ATM-based deposits). All prepaid cards are funded by verified and approved funding sources. However, this restriction can be lifted as certain prepaid programs may choose to allow ATM-based cash funding.


    Generally prepaid cards can be categorized into one of the three following classifications:

    • Generic Open Loop prepaid card:

    The payments functionality is identical to a standard mada debit card allowing cardholders to withdraw  (via ATM ), make purchases (through  PoS terminals ) and make bill payments  via SADAD.

    • Generic Restricted Loop prepaid card:

    Restricted loop prepaid cards will be limited for use at a predetermined set of merchants.

    • Generic Closed Loop prepaid card:

    A closed loop prepaid card is a merchant specific prepaid card. It can only be used at a certain merchant or location (e.g. a Coffee Shop prepaid card can only be used at that specific Coffee Shop store locations).


    Prepaid payment services can be used across a range of different acceptance models or prepaid payment service programs. For more details on these programs, please refer to the Regulatory Rules for Prepaid Payment Services in the Kingdom of Saudi Arabia.