Over 1,000 firms fined for not offering cashless service

Over 1,000 firms fined for not offering cashless service

Muscat: The Ministry of Commerce and Industry Promotion (MOCIIP) has over 1,000 (1,183) stores that were found non-compliant with providing electronic payment device services to customers.Over 4,900 stores were inspected by the Ministry’s inspection team in 2023 to ensure the availability of electronic payment devices in commercial stores.MOCIIP has made it mandatory to provide electronic payment services to customers in several business activities, including foodstuffs, gold and silverware, restaurants and cafes, vegetables and fruit, electronics, building materials, and tobacco.Its decision covers activities in the industrial zones, complexes, commercial centers, and gift markets.Al Institutions and commercial companies operating in the select activities must provide electronic payment services to all consumers.The Central Bank of Oman, in coordination with banks and service providers, has provided point-of-sale devices to merchants without installation fees or monthly or annual fees to private sector institutions. Only fees for merchant transactions specified by CBO will be applicable.

Over 1,000 firms fined for not offering cashless service