Paymob secures CBO’s PSP license

Paymob secures CBO’s PSP license

Muscat: Paymob, the leading financial services enabler in the Middle East, North Africa, and Pakistan (MENAP) announces that it has received the Central Bank of Oman's (CBO) Payment Service Provider (PSP) license, making it the first international fintech company to be fully licensed in the Sultanate of Oman. The PSP license authorises Paymob to accept and process online and in-store payments in Oman, powered by its local integration with CBO's secure payment infrastructure, OmanNet. This landmark milestone enables merchants in the Sultanate to accept both local and cross-border payments through Paymob's gateway, eliminating the need for multiple gateway integrations. Paymob secured the PSP license upon complying with all the regulatory requirements of CBO's framework. Islam Shawky, Co-founder and CEO of Paymob stated: "It is a proud moment for Paymob to be the first international fintech company to receive PSP licensing in Oman. We appreciate the vote of confidence that CBO has placed in our technology. We are committed to enabling SME growth in Oman by making cutting-edge payment solutions accessible to all merchants and processing transactions seamlessly and securely through our local gateway." Oman is on an accelerated path toward the digital transformation of its banking sector, guided by the