The launch of e-Purse marks the beginning of a new era of cashless society in Oman. Implemented by BankMuscat, the Royal Oman Police (ROP) and Information Technology Authority (ITA), the national e-Purse project revolutionises the mode of cash transactions.
During the first phase of the project, the e-Purse can be loaded with cash only at selected BankMuscat branches with the Point of Sale (POS terminals) network of the Bank facilitating card-based transactions at ROP directorates, ministries and government establishments.
Coming as part of the ambitious national e-Governance initiative, the state-of-the-art e-Purse embedded on national ID and resident cards is the first of its kind in the region.
Joining a select few countries in the world which have adopted the e-Purse technology, the Sultanate marks a milestone in its e-Governance initiative launched on the directive of His Majesty Sultan Qaboos to equip the country in line with the 21st century technological advancement.
The benefits of e-Purse are that it greatly reduces cash handling costs; is a highly secure system and provides more choice for customers. Besides the personal identification features, the ID card offers a number of in-built options facilitating a wide range of services.
In step with eOman, BankMuscat is in the forefront, facilitating electronic card payments for services rendered by various government departments. Notably, BankMuscat is the first card-acquiring bank to support electronic payment for goods and services offered by the government
Features and Benefits:
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 Benefits of the e-Purse for the public |
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- Payments to government and private establishments are eased.
- The e-Purse is the 1st step in the activation of a range of e-Services that are based on the ID card such as the medical record, voter’s card and digital signature.
- The management of money is more flexible as transfers are cashless.
- It is not necessary to open a bank account or obtain any other bankcard as the existing national identity or resident card will suffice for payments.
- It is safer than carrying cash..
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| Benefits of the e-Purse for the Government |
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- Funds are managed electronically thus offering more convenience, efficiency and safety.
- The National Identity and Resident Card becomes a multipurpose convenience.
- Funds can be transferred more efficiently and easily to government bank accounts.
- The procedures of revenue monitoring, government taxes and statistical accuracy will be easier to compile and track as will the process of tracing transactions.
- There will be more privacy and security in financial transactions.
- Processes are eased and government and corporate business is facilitated.
- There will be no requirement to pay commissions to any other parties as the entire system is managed within the Sultanate of Oman and transactions will not be routed through international payment switches outside the country. This step will encourage other banks to endorse the initiative after it has been launch.
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| How does the e-Purse work? |
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 By activating the chip which is embedded in the national identity card and resident card the e-Purse sets aside a sector where a user may store a certain value of money. The money is loaded on to the card electronically at the bank when the user hands over the required amount of cash he or she wishes to have loaded. Once the card is loaded with the money, it can then be used to make payments at all government offices by simply inserting the card into a point of sale terminal and entering a secret pin number whenever required. Once the value of money is exhausted the e-Purse can be loaded up again. Initially accepted at all government offices, the e-Purse will gradually also be accepted at commercial merchant outlets to offer greater convenience to the public. | |
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