Electronic Payment System Has Come Into Effect From Today In Saudi Arabia. The E-payment System Should Be Installed At All Merchandise Locations Before The End Of Next August. The Ministry Of Commerce Has Said That Stringent Punishments Will Be Instituted Against Companies That Fall.
The Phased Implementation Of The E-payment System Has Already Started In All The Business Establishments Across The Country. The First Phase Of The Project Was Launched In July This Year At The Fuel Stations And Associated Service Centers.
Since November This Year, The Scheme Has Been Extended To All Vehicle-related Establishments, Including Punch Shops, Spare Parts Shops And Workshops. This Is The Reason Why The E-payment System Has Been Made Mandatory Across The Country.
The Ministry Of Commerce Had Earlier Announced That By August Next Year, Electronic Payment Systems Would Be Mandatory In All Merchandise Establishments In The Country. The Objectives Of The Scheme Are To Reduce Direct Cash Flow, Increase Health Security And Eliminate Benami Transactions.
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