Riyad Bank recently received a certification from MasterCard for being the first Saudi bank to meet “atheer” Mastercard’s requirements for POS terminals, which is an innovative service that allows customers to pay for low value purchases without the need to physically insert the card into the POS terminal.
<p>Riyad Bank recently received a certification from MasterCard for being the first Saudi bank to meet “atheer” Mastercard’s requirements for POS terminals, which is an innovative service that allows customers to pay for low value purchases without the need to physically insert the card into the POS terminal.</p><p>Mohammed Abo Al-Naja, Executive Vice President of Corporate Banking Services Division at Riyad Bank, said that this accomplishment is added to a series of accomplishments achieved by the bank over the course of 60 years. He explained that Riyad Bank spares no effort to create banking services that cater to the customers’ aspirations and contribute to the sustainable development of the national economy.</p><p>Abo Al-Naja added that this service is used for low value items up to SAR 100 per transaction and an cumulated amount of SAR 300 maximum, regardless of the number of transactions. He pointed out that Riyad Bank was the first Saudi bank to issue the contactless card which can easily replace cash and controls fraud and interception risks.</p>
