Shopping malls in Oman to go cashless from 2022

Shopping malls in Oman to go cashless from 2022

The CBO, in coordination with other banks and payment service providers, has issued POS devices for merchants, free of installation fees or monthly/annual charges. Muscat: Shops, businesses and other commercial activities will need to provide cashless payment options to customers, with effect from January 1, 2022, the Ministry of Commerce, Industry and Investment Promotion (MOCIIP) has announced. The move comes as part of the measures to reduce the amount of cash circulating in the market, and help boost digital transformation, under the plans of Oman Vision 2040. The first phase of rolling out cashless payment options will cover all activities in industrial areas, shopping complexes, commercial establishments, gift stores, companies involved in the sale of food, jewellers, restaurants and cafes, fruit and vegetable shops, electronics stores, shops selling construction materials, and tobacconists. "To ensure this service can be easily provided, the Central Bank of Oman, in coordination with other banks and payment service providers, has issued point of sale (POS) devices for merchants, without any need for an installation fee, or any monthly and/or annual charges for the same," said MoCIIP in a statement. "However, merchant service fees due to the Central Bank of Oman will be applicable," added the