mada FAQ

No. the terminal will only accept payment once in this scenario.
 

Yes, atheer transaction can be canceled similar to all other mada transactions.
 

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.
 

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.
 

MSC is calculated (if applicable) on the basis of the transaction value, For example:
• Example (1): if a customer (cardholder) used his debit card 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 debit card 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.
 

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.
 

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.
 

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.
 

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

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.
 

Yes. The terminal will accept wither SPAN or mada debit cards 
 

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. 
 

• 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 genuinty, 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 debit cards 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.
 

Cardholder must contact the bank immediately and report the lost or stolen card.
 

No, as merchant need to input the value amount into the terminal plus the card needs to be waved in a very close proximity to the reader for the transaction to be happen.
 

Yes. Cardholder will be responsible for purchase transactions done without the need to enter the PIN. It’s worth highlighting that the cardholder should receive an SMS message on his mobile for any transaction. Also, we always recommend that the cardholder inform his banks immediately once his card has been lost or stolen.
 

Yes, the cardholder will be able to use this payment technology outside the kingdom subject to the payment systems rules governing the other country.
 

Yes. Bank statements for both merchant and cardholder will include indicate transactions conducted through this service.