SAMA licenses Lite Advanced Financial for e-wallet services
Payment partners must verify Lite Advanced Financial as SAMA-authorised
Change
SAMA licensed Lite Advanced Financial to provide e-wallet payment services, bringing the number of licensed payment-service companies in Saudi Arabia to 32.
Why it matters
The licence adds Lite Advanced Financial to Saudi Arabia’s authorised payment-service provider perimeter. Merchants, platform partners and compliance teams must verify e-wallet and payment-service relationships against SAMA’s authorised-institution list before treating a provider as permitted.
Implications
- — Lite Advanced Financial may provide e-wallet services in Saudi Arabia within the scope of its SAMA licence.
- — Merchants and platform partners using e-wallet services in Saudi Arabia must verify Lite Advanced Financial against SAMA’s authorised financial institutions list before onboarding or promoting the service.
- — Compliance teams at Saudi payment and fintech firms must update authorised-provider checks to include Lite Advanced Financial for payment-service counterparty review.
Who is affected
- — Lite Advanced Financial
- — Merchants and platform partners using e-wallet services in Saudi Arabia
- — Compliance teams at Saudi payment and fintech firms
What to watch
- — Licence announcement date: May 4, 2026
- — SAMA authorised financial institutions list
- — Total SAMA-licensed payment-service companies: 32