finpeel Answers · KSA · updated 2026-08-14
Sometimes. SAMA’s payments framework recognises agents and electronic-money distributors, and a fintech can also provide technology to a licensed PSP, but the arrangement must not leave the unlicensed fintech itself performing the regulated service.
The contract should clearly allocate customer relationship, safeguarding, execution, complaints and regulatory responsibility to the authorised provider where that is the intended model.
If the fintech controls the regulated service in substance, calling the licensed PSP a “partner” will not by itself move the fintech outside the perimeter.
Regulator: Saudi Central Bank (SAMA)
Primary sources: SAMA — Law of Payments and Payment Services · SAMA — Implementing Regulations of the Law of Payments and Payment Services
Directional — not legal advice. Verify with the regulator before committing.
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