Financial Policy
GOING 2 COM Regulatory and Administrative Document
1. Introduction
The financial policy of GOING 2 COM aims to establish clear rules for organizing payment processes, collections, and managing financial transactions with high efficiency. This policy is designed to ensure transparency, accuracy, and security, based on best financial and technical practices adopted in the ride-sharing and digital services sector.
1.1 Concerned Parties
This policy regulates the financial relationship and the flow of funds between the four main parties in the application ecosystem:
• Platform: The entity that owns and operates GOING 2 COM.
• Companies: Business partners, service providers, or fleet managers.
• Drivers: Approved transportation service providers on the platform.
• Passenger: The end user and beneficiary of the application’s services.
1.2 Financial Models and Settlement Mechanisms (Practical Difference)The application relies on advanced mechanisms to manage the flow of funds, which are classified into two main tracks to ensure operational flexibility:Split Payments (Payments Split): In this mechanism, once the passenger completes the payment process, the financial amount is directly and automatically divided among multiple parties according to predefined rules and percentages (such as: driver share, platform commission, and possibly a third party such as a fleet manager or partner). This mechanism, as described by payment service providers, is an effective way to distribute funds instantly to multiple beneficiaries within the same transaction without manual intervention.Aggregated Payments and Payouts: According to this model (which is common in marketplace-based transportation applications), the platform first collects the total amount from the passenger through the application. After that, the dues of drivers or partners are aggregated and later settled according to an approved settlement cycle (daily, weekly, or instant). This model ensures greater control over cash flows and refund management.
2. Payment Methods To ensure a smooth and convenient user experience, the application provides a variety of flexible and diverse payment methods that enable users to complete payments easily and securely, including:
• Electronic payment: Includes the use of bank cards (credit cards and Mada) and approved digital wallets.
• Direct payment: The ability to pay directly and instantly through the application upon requesting the service.
• Postpaid payment: The ability to activate the postpaid option (paid-Post) based on approved credit policies for eligible users.
3. Payment Methods Management
The administration has full authority to control the payment infrastructure. Payment methods are activated and managed through an advanced centralized control panel, allowing the administration to:
• Add or disable payment methods: Control the channels available to users based on technical updates or financial partnerships.
• Update payment settings: Adjust configurations according to changing operational requirements and market conditions.
• Monitor transactions: Track real-time payment operations and ensure the efficiency and stability of payment gateways associated with the application.
4. General Settings
4.1 Postpaid Payment
As part of the provided facilities, the option to allow users to pay later can be activated. This option is subject to specific and strict financial and credit controls, ensuring the protection of the rights of all parties (platform and drivers) and reducing the risks of financial default.
4.2 Tip
In support of outstanding service providers, the system allows the option to add a tip to the driver, entirely optional by the user (passenger). The tip amount is calculated transparently نـمــــــــــــــــــض the total paid amount and is fully transferred to the driver’s balance according to the adopted settlement mechanism.
5. Financial Permissions Management
To protect the internal financial system, user permissions (employees and managers) within the financial administration are defined with high precision. This division ensures full and secure control over financial operations and prevents any unauthorized actions.
5.1 Enabled Permissions
The active permissions that may be granted to financial administrators include:
• Viewing financial data and information related to the platform and users.
• Adding new financial records (such as manual settlements or rewards).
• Modifying existing records (in case of justified accounting errors).
• Viewing all analytical financial reports and data.
• Managing payments, processing them, and tracking their status.
• Managing refunds for customers.
• Exporting financial reports in multiple formats for auditing purposes.
5.2 Disabled Permissions
As a precautionary measure to ensure integrity, certain sensitive permissions are restricted, including:
• Deleting financial records (to ensure the existence of a non-manipulable audit trail).
• Modifying pricing and commissions or setting prices (this authority is limited to senior management only).Permissions Summary:
• Number of enabled permissions: 7 permissions.
• Number of disabled permissions: 2 permissions.
6. Payment Management
Payment management is the core of the financial policy and is subject to the following standards:
• All payments are processed through secure and approved payment systems and gateways locally and internationally.
• All financial transactions are recorded accurately, in real time, and are traceable to ensure that no rights are lost.
• All operations are subject to periodic review and financial auditing to ensure full transparency between the platform and its partners.
7. Refund Management
In the event of disputes or billing errors, the platform follows a clear refund policy:
• Refund requests may be processed in accordance with the platform’s approved policies and terms and conditions.
• Each refund request is carefully reviewed by the specialized team before approval to ensure the customer’s entitlement.
• Upon approval, the due amounts are refunded through the same payment method used in the original transaction, in compliance with anti-money laundering banking standards.
8. Financial Reports
The financial system provides advanced reporting tools, where:
• The system provides comprehensive financial reports covering all aspects of revenues, expenses, settlements, and commissions.
• These reports can be easily exported for internal review, external auditing, and financial analysis purposes.
• These accurate reports support senior management in making administrative and strategic decisions based on real data.
9. Security and Data Protection
GOING 2 COM places financial information security at the top of its priorities:
• All payment information and personal data are protected using advanced encryption technologies (End-to-End Encryption).
• The system strictly complies with Payment Card Industry Data Security Standards (PCI DSS) to protect bank card data and prevent leakage.
• The highest cybersecurity standards are applied, including firewalls and continuous monitoring, to ensure data protection against any breaches.
10. Compliance and Governance
To ensure business sustainability and legality, the platform is committed to:
• Full compliance with all financial regulations and laws applicable in the Kingdom of Saudi Arabia, including the regulations of the Saudi Central Bank (SAMA) and relevant authorities.
• Implementation of strict internal controls to ensure integrity, transparency, and prevent any conflicts of interest or financial fraud.Conclusion
The financial policy of GOING 2 COM reflects the platform’s commitment to providing an integrated, advanced, and secure financial system. Through flexible payment mechanisms, strict permission management, and adherence to high security and regulatory compliance standards, the platform supports efficient payment management, strong data protection, and a reliable and fair experience for passengers, drivers, and partners.