lite terms & conditions

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1. Who we are

These Terms and Conditions ("Terms") govern your use of the services provided by lite Advanced Financial Company, a Saudi closed joint stock company, unified number 7043615017 ("lite", "we", "us"), licensed by the Saudi Central Bank (SAMA) as a Major Electronic Money Institution under licence no. ٣٤/م ش م/١٤٤٧, with registered address at 7463 King Abdulaziz Road, Al Nafl District, Riyadh 13312, Saudi Arabia. By registering for or using any Lite service, you agree to these Terms.

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2. Definitions

"Account": the Lite account (electronic money account) opened in your business's name. "E-Money": monetary value stored electronically, issued by Lite on receipt of funds, at par value. "Payment Services": the services described in Section 3. "Card": a physical or virtual card issued under your Account. "Business Day": a day other than a public holiday on which banks are open for business in the Kingdom of Saudi Arabia. "Force Majeure Event": an event or circumstance beyond the reasonable control of the affected party which prevents or delays performance of its obligations under these Terms, including acts of God, natural disasters, war, terrorism, civil commotion, labour disputes, failures of utilities or telecommunications, or actions or omissions of governmental or regulatory authorities, but excluding events attributable to that party's own acts or omissions. "Customer", "you": the business entity using Lite's services.

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3. Our Services

Subject to these Terms and our licence, lite provides:

(a) Acquiring of payment transactions: acceptance of payments in-store, online, in-app, and via payment links.

(b) Issuance of electronic money: operation of your lite Account (electronic money account/wallet).

(c) Issuance of payment instruments: corporate cards and related expense controls.

(d) Related reporting and dashboard services supporting the above.

Availability of specific services may depend on your onboarding profile and applicable approvals.

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4. Eligibility, Onboarding and Verification

Our services are available to businesses operating lawfully in the Kingdom. Before opening an Account, we are required by law to verify your business and its representatives (know-your-business and know-your-customer checks) in line with the Saudi Anti-Money Laundering Law and SAMA requirements. You must provide accurate, complete, and current information and update it when it changes. We may decline, suspend, or close an Account where required by law or our regulatory obligations. Lite also conducts ongoing monitoring and may request updated information and verification documents at any time.

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5. Fees

Fees for our services are set out in [PLACEHOLDER: pricing schedule / agreement reference] and are payable in Saudi Riyals unless we notify you otherwise. We may change our Fees at any time. Save where a shorter period is required by law or where a change is clearly in your favour, we will give you at least 30 calendar days' notice before a fee change takes effect. If you do not agree to a change, you may stop using the affected service and terminate these Terms without charge before the change takes effect.

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6. Your Account and electronic money

(a) Funds you hold with lite are electronic money issued at par value upon receipt of funds. Funds held in your Account are electronic money and (i) are not bank deposits; (ii) do not generate profit, yield, or return; and (iii) remain at all times subject to these Terms and SAMA Regulations.

(b) Electronic money does not earn profit or any other benefit related to the length of time it is held with us.

(c) You may redeem your electronic money at par value at any time. Redemption may be subject to a fee, which will be proportionate to and commensurate with our actual costs of processing the redemption. Any applicable redemption fee is set out in [PLACEHOLDER: pricing schedule], and we will show you how your balance has been applied against any redemption fee.

(d) If these Terms are terminated, we will redeem your remaining electronic money balance in full, generally within one month of receiving a valid redemption request. You may claim this redemption at any time up to one year following termination. If your remaining balance is so small that any applicable redemption fee would exceed it, meaning you would receive nothing from the redemption, lite may stop safeguarding that balance.

(e) Customer funds are safeguarded immediately upon receipt, in a segregated safeguarding account with a SAMA approved bank, separate from lite's own funds, in accordance with SAMA regulations. Safeguarding is not equivalent to the protection applicable to bank deposits. 

(f) Set off. We may, at any time and without prior notice, deduct or set off from your Account balance any amount you owe us under these Terms including fees, charges, and amounts arising from a chargeback, a refund we are required to make on your behalf, or your breach of these Terms against any amount we owe you. Where a set off leaves your Account balance insufficient to cover the full amount owed, you remain liable to us for the shortfall. We will notify you of any set-off made under this clause, together with the reason for it, without undue delay.

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7. Accepting payments and settlement

Payments accepted through lite are settled to your Account (or your designated bank account) on the settlement cycle applicable to you. We may delay, withhold, reverse, or hold in reserve any settlement where a transaction appears suspicious, high-risk, or inconsistent with your usual activity; where we have reasonable grounds to suspect fraud, money laundering, or terrorist financing risk; where required to meet our regulatory obligations; or where you are in breach of these Terms. You acknowledge that we may hold funds for up to 120 days, or longer if required by a card scheme or regulatory authority. Where we extend a hold beyond the ordinary settlement cycle, we will notify you of the reason for the extended hold within five (5) business days of the hold being extended, in line with the fair treatment expectations under SAMA's Consumer Protection Principles.

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8. Cards

Cards issued under your Account are funded from your Account balance and remain subject to spending controls you configure. Cards remain the property of lite and must be cancelled when a cardholder leaves your business. You are responsible for the use of Cards issued at your request.

Additionally:

• Cards may only be used for lawful transactions and in accordance with these Terms and any applicable card scheme rules.
• We may block, suspend, or cancel a Card at any time where we reasonably suspect fraud, unauthorized use, or a breach of these Terms, or where required by the card scheme or applicable law.
• You must report a lost, stolen, or compromised Card to us immediately using the details in Section 10 (Security of your Account). Prior to our receiving a valid notification, your maximum liability will not exceed the greater of (i) your available Account balance, or (ii) the total value of unauthorized transactions posted before that notification, subject always to applicable law. You will have no liability for unauthorized transactions made after we receive a valid notification, provided you and your authorized users acted honestly, with reasonable care, and without fraud or gross negligence, except as otherwise provided in Section 12 (Unauthorized or Incorrect Transactions).
• Where a Card is used in a currency other than Saudi Riyals, the transaction will be converted using an exchange rate we determine (or that is determined by a payment scheme or intermediary we use), which may include a margin. Exchange rates fluctuate, and we are not responsible for losses arising from currency conversion except as required by law. Any related fees will be disclosed in accordance with Section 5 (Fees).
• Card design, features, and functionality may be subject to change, including where required by the applicable card scheme.

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9. Your obligations and prohibited use

You agree to use the services only for lawful business purposes; not to use them for activities on our prohibited list; to comply with applicable laws including AML/CTF and sanctions; and to cooperate with information requests we are required to make. We may refuse or reverse transactions that we reasonably believe breach these Terms or the law.

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Prohibited Activities

You may not use our services for, or in connection with, any of the following:

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Illegal activities

• Any activity that is illegal under the laws of the Kingdom of Saudi Arabia, or under the laws of any jurisdiction to which you or your transactions are subject.
• Money laundering, terrorist financing, or financing of proliferation of weapons.
• Fraud, or facilitating fraud by others, including processing a transaction without providing the underlying goods or services, or where you know or ought to know the transaction is fraudulent.
• Sanctions evasion, or any dealings with individuals, entities, or countries subject to sanctions under Saudi or applicable international law.

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Regulated or restricted goods and services

• Unlicensed gambling, betting, lottery, or gaming-chip/gaming-card services.
• Sale or distribution of alcohol, where not licensed to do so.
• Sale of weapons, ammunition, or explosives.
• Sale of counterfeit or unauthorized goods, or goods infringing third-party intellectual property rights.
• Sale of controlled substances, or drug paraphernalia.
• Adult content, escort services, or other sexually explicit services.
• Multi-level marketing, pyramid schemes, or similar arrangements.
• Unlicensed financial services, including unlicensed lending, deposit-taking, or investment services.
• Trading in cryptocurrencies or virtual assets, except where separately agreed with us and permitted by SAMA.
• Purchase of cash, stored value, prepaid cards, gift cards, vouchers, or other cash-equivalent items, unless we've expressly authorized it.
• Charitable or non-profit fundraising, or any contribution to a third party, unless licensed by the relevant Saudi authority or approved by us in writing in advance.

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Other prohibited uses

• Charging any penalty, fine, fee, or additional amount beyond the value of the goods or services actually purchased, or any amount not clearly disclosed to and authorized by the customer at the time of purchase.
• Splitting a single purchase into multiple transactions to circumvent transaction limits or authorization requirements.
• Processing transactions on behalf of a third party, including acting as an unauthorized payment intermediary, aggregator, or facilitator, without our prior written approval.
• Any activity that we reasonably believe poses a heightened risk of fraud, money laundering, or reputational harm to us.
• Any activity in breach of card scheme rules (Visa, Mastercard, mada) applicable to the transaction.
• Any use of our services by an individual or business not properly licensed for their stated activity in the Kingdom of Saudi Arabia.

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This list is not exhaustive. We may update it from time to time, and we will notify you of material changes in accordance with Section 17. We may decline, suspend, or terminate your access to our services if we reasonably believe you have engaged in a prohibited activity.

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10. Security of your Account

Keep your credentials, devices, and API keys secure and confidential. Notify us immediately at support@lite.sa if you suspect unauthorized access or use of your Account. We will never ask you for your full password or one-time passcodes.

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11. Instructions and execution of transactions

We execute payment instructions given through authenticated channels. An instruction received by us is deemed authorized where the applicable authentication was completed. Instructions received after the applicable Cut-Off Time: the latest time on a Business Day by which an instruction must reach us to be treated as received that day, or on a non-Business Day, are treated as received on the next Business Day. The specific Cut-Off Time is set out at [PLACEHOLDER].

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12. Unauthorized or incorrect transactions

If you believe a transaction was unauthorized or incorrectly executed, notify us without undue delay, and in any event no later than six months after the transaction date, at support@lite.sa. If we failed to provide you with the transaction information we are required to give you, this six-month limit does not apply.

Where you deny having authorized a transaction, we bear the burden of proving that it was properly authenticated, accurately recorded, and not affected by any deficiency in our service.

Once we confirm that a transaction was unauthorized, we will refund the amount and restore your account to the position it would have been in, as soon as practicable and in any event no later than the end of the business day following the day we reach that conclusion. We may withhold this refund only where we have reasonable grounds to suspect that you acted fraudulently, in which case we will notify SAMA in writing of those grounds. Suspected fraud by a third party does not delay your refund. Refunding you does not depend on whether we are able to recover the funds from the party responsible for the unauthorized transaction.

Where a disputed transaction is also subject to card network rules (for example, a chargeback), those rules may apply in parallel to this section.

For other transaction errors or complaints, we will pay any refund or compensation due within seven calendar days of concluding our investigation, and we will keep you informed if there is any delay and the reason for it.

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13. Suspension and termination

You may terminate these Terms at any time by contacting us and requesting closure of your Account; any pending transactions may be cancelled on closure. We may terminate these Terms or any service for convenience by giving you at least 30 calendar days' written notice. We may suspend or terminate services immediately and without notice where required by law or SAMA, for security reasons, or for your material breach. On closure, you remain liable for all fees and amounts incurred up to the effective date of termination, and we will redeem your remaining electronic money balance to you at par value, generally within one month of a valid request, after settlement of outstanding obligations.

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14. Complaints

If something goes wrong, contact us first at support@lite.sa. We handle complaints fairly and in a timely manner: we will acknowledge your complaint within three (3) calendar days of receipt, and provide a final response within five (5) calendar days of receipt.

If you are not satisfied with how we have resolved your complaint, you may escalate it further within lite at Ather Alam Khan directly at a.khan@lite.sa. And in case of no response you may directly contact our CEO, Fahad Anteet, at fahad@lite.sa, or directly to the Saudi Central Bank (SAMA) through its consumer protection channels.

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15. Liability

Nothing in these Terms excludes or limits any liability that cannot be excluded or limited under the laws of the Kingdom of Saudi Arabia, including our obligations relating to unauthorized or incorrectly executed transactions (Section 12), safeguarding of your funds (Section 6), death or personal injury caused by our negligence, or our fraud or fraudulent misrepresentation.

Subject to the above, we and our affiliates (and our licensors) are not liable to you for loss of profits, loss of goodwill or reputation, loss of business or business opportunity, loss of revenue, or loss or corruption of data, or any indirect or consequential loss or damage.

Subject to the above, we are not liable for any loss or damage arising from: your reliance on advertising, or any relationship or transaction with a third party whose products or services are promoted via our platform; a change to, or temporary or permanent cessation of, the services; any feature, malfunction, or failure of the services caused by factors outside our reasonable control; your equipment, software, internet connection, or systems; your failure to keep your Account credentials, devices, or API keys secure; your failure to provide accurate or up-to-date information; any third-party platform, service, or integration you choose to use in connection with your Account, which is used at your own risk and which we do not control or guarantee; or any Force Majeure Event (Section 20).

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16. Intellectual property

The Lite platform, dashboards, APIs, and brand remain the property of Lite and its licensors. Each party retains ownership of its own brand elements and other intellectual property; except as expressly stated here, neither party gains any right, title, or interest in the other's intellectual property. For as long as these Terms are in force, you grant lite a non-exclusive, non-transferable, royalty-free licence to use your brand elements solely as reasonably required to perform our obligations to you, and we grant you a non-exclusive, non-transferable, royalty-free licence to use our brand elements solely as reasonably required for you to operate your business using our services and to refer to them. We may revoke this licence at any time by written notice.

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17. Changes to these Terms

We may amend these Terms. We will give you at least 30 calendar days' notice of any material changes, through your dashboard, email, or other electronic means. If you do not agree to a change, you may terminate these Terms at no charge before the change takes effect. If you continue to use our services after the effective date of a change, you will be treated as having accepted it.

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18. Data protection

We process personal data in accordance with the Saudi Personal Data Protection Law and our Privacy Policy, which forms part of these Terms.

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19. Governing law and disputes

These Terms, and any non-contractual obligations arising out of or in connection with them, are governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia. Disputes arising out of or in connection with these Terms will be resolved in accordance with the dispute resolution mechanisms and procedures prescribed by SAMA from time to time. If you remain unsatisfied following our final response, you may escalate the dispute to the Saudi Central Bank (SAMA) through its consumer protection and complaint-handling channels, without prejudice to your right to bring proceedings before the competent courts of the Kingdom of Saudi Arabia.

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20. Force Majeure

If either party is prevented from performing its obligations under these Terms by a Force Majeure Event, it will notify the other party in writing within ten (10) days of becoming aware of the event. The affected obligations will be suspended for the duration of the Force Majeure Event, and the affected party will not be liable for any resulting non-performance during that period.

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21. General provisions

Assignment. You may not assign, transfer, or otherwise dispose of any of your rights or obligations under these Terms without our prior written consent. We may assign or transfer our rights and obligations to an affiliate or to a successor in connection with a reorganization, restructuring, or transfer of our business. These Terms bind and benefit the parties' permitted successors and assigns.

Notices. You may contact our customer service team using the details in Section 22 (Contact). We may notify you by telephone, SMS, email, or any other method reasonably selected by us using the contact details registered to your Account.

Waiver, severability, and entire agreement. No failure or delay by either party in exercising any right under these Terms operates as a waiver of it. If any provision of these Terms is found unenforceable, the remaining provisions continue in full force. These Terms, together with our Privacy Policy and any applicable service-specific terms, constitute the entire agreement between us regarding their subject matter.

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22. Contact

Lite Advanced Financial Company · 7463 King Abdulaziz Road, Al Nafl District, Riyadh 13312, Saudi Arabia · info@lite.sa · 800 124 8888 (within KSA) / +966 800 124 888 (international) · Licensed by the Saudi Central Bank (SAMA), licence no. 34/XXX/1447. Last updated: Rabi II 10, 1448 AH, September 21st, 2026.

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These Terms & Conditions are issued in Arabic and English. In the event of any conflict between the two versions, the Arabic version prevails.