MUSCAT, 14 February 2019
Bank Muscat, the flagship financial services provider in the Sultanate, and Shell Oman Marketing Company, the leading fuel marketing company in Oman, has signed a Memorandum of Understanding (MoU). Sheikh Waleed K. Al Hashar, Chief Executive Officer of Bank Muscat, and Dr. Mohammed Mahmood Al Balushi, Chief Executive Officer of Shell Oman, signed the MoU at the bank’s head office, facilitating a secure and convenient electronic payment option for customers at Shell stations across the Sultanate.
Under the terms of the MoU, Bank Muscat will provide a range of dynamic payment solutions, including Electronic Funds Transfer at Point of Sale (EFTPOS) systems at Shell service stations for acceptance of all debit and credit cards, boosting convenience for Shell Oman customers.
In addition, the MoU paves the way for a wide range of collaborative programmes, including electronic payment solutions such as the state-of-the-art ‘cash on mobile’ e-wallet solutions, digital payments, loyalty programmes and co-branded cards.
One of the unique aspects of the facility is the use of ATEX certified wireless card terminals exclusively at Shell stations in Oman. The ATEX terminals incorporate EU directives on equipment usage in inflammable and explosive environment. ATEX wireless card terminals are certified for safe usage in fuel stations.
Sheikh Waleed K. Al Hashar, Chief Executive Officer of Bank Muscat, said: “In line with its leadership position in Oman and customer-centric strategy, Bank Muscat is delighted to joins hands with Shell Oman Marketing Company and launch yet another value-added service benefiting customers. The bank is making all efforts to facilitate electronic payment as a business model. The initiative complements government efforts in making e-payment as the preferred mode of payment, motivating a change in consumer behaviour that makes digital payment both a habit and preference in view of convenience and security. Providing the ‘best in class’ service, Bank Muscat continues to invest in cutting edge IT infrastructure, latest Point of Sale (PoS) terminals and competent human resources available in the payments industry. It is this dedication and commitment to service that has made Bank Muscat the preferred electronic payment service provider to the nation.”
On signing the agreement, Dr. Mohammed Mahmood Al Balushi, Chief Executive Officer of Shell Oman, commented: “The MoU enables us to leverage digital technology to offer innovative, secure and convenient payment channels to our customers. We want to make our customers’ journeys better, and we believe that the digital technology advancement of Bank Muscat makes this partnership ideal. Our teams are working in parallel to develop mobile payment as an additional convenient cashless option for our customers and to continuously improve the digital experience for our customers at the forecourt. It is part of Shell’s global strategy that has already introduced mobile and cashless payments years ago in large international markets like the USA, the UK and China. We want to offer our customers in Oman more speed, convenience and security in their transactions anytime and anywhere in our network of more than 190 Shell service stations, strategically located throughout the Sultanate.”
The bank’s ability and flexibility to adapt, innovate and provide customised payment solutions is unique, changing the customer payment behaviour from ‘cash to digital’. Bank Muscat commenced card acquiring operations in 2002 and since then has crossed many milestones to become the largest acquirer and issuer of cards in Oman. As the leading electronic payment service provider in Oman, Bank Muscat merchant outlet network has grown to over 10,000 with nearly 19,000 PoS terminals deployed across the country to support e-payment and continues to expand rapidly.
Shell Oman Marketing Company is a publicly listed company on Muscat Securities Market. This year marks Shell’s 60th anniversary in downstream business operations in Oman. Shell Oman operates in a multi Downstream-business structure providing Retail, Commercial, Lubricants, Marine, Bitumen and Aviation fuel products and services in Oman. Shell Oman owns and operates the only ISO-certified lubricants blending plant of its kind in Mina Al Fahal which produces Made-in-Oman Shell-branded lubricants for local and regional markets. The Company excels in its commitment to local talent development, with 92% omanization rate across the workforce, including the senior management level.
The Company continues to be committed to meeting the Sultanate’s growing energy demands, and contributing to its prosperity in an economically, environmentally and socially responsible manner, by operating safely and sharing benefits with the Omani community.