Al Rajhi Bank

Al Rajhi Bank is a Saudi bank, whose legal entity is Alrajhi Banking & Investment Corp., that provides merchant acquiring and business accounts. Its published terms include a registration number and a licence number issued by SAMA, the Saudi central bank.

Acceptance products The bank offers POS and card acceptance through an NFC-enabled smartphone, aimed at small businesses, delivery operators and licensed freelancers. Supported payment methods are mada, Visa, Mastercard and Apple Pay. Phone-based acceptance lowers the entry barrier for sole traders who do not want to buy a physical terminal.

Legal entity and address The bank's materials name Alrajhi Banking & Investment Corp. as the legal entity. The registered address given is 8467 King Fahd Road, Al Muruj District, Riyadh 12263-2743.

Terms Account types, fees and settlement times differ by product and are not set out in the material. A business should ask which account is required for settlement and what the commission is for mada and for international cards. Because the offer targets small merchants and freelancers, larger retailers may need a separate corporate acquiring agreement.