CBO approves licensing application of OM Pay

CBO approves licensing application of OM Pay

In an official announcement, the Board of Governors of the Central Bank of Oman (CBO) approved the licensing application of OM Pay to provide electronic payment services in the country. After successful completion of CBO Sandbox testing recently, OM Pay is all set to be launched with a new design and an upgraded state-of-art digital wallet and many other payment services.

Global Financial Technology LLC, one of the leading FinTech companies in the country and a subsidiary of Omantel, is the main shareholder of OM Pay application. Its CEO, Mr Abdulaziz Al-Rawahi, is elated: “We are grateful to CBO for approving our application and supporting us in our innovation. OM Pay is our dream come true and is aligned with the company’s efforts to support Oman’s digitalization plans. OM Pay application will provide a digital wallet as well as a payment gateway for the benefit of individuals and businesses alike. The encouragement that we have got from the CBO for OM Pay has been overwhelming and we are truly thankful to them”.

OM Pay will offer mobile payment services to consumers and enable merchants to receive payments through its NFC, QR code, point of sale, bank transfer and online payment gateway offerings.

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