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Bank Muscat committed to promote electronic payment in Oman

MUSCAT, 6 August 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, in line with its 'Let's Do More' vision and commitment to innovation and partnership in sustainable development initiatives, reiterated its commitment to promote electronic payment with its support and participation in the 'Electronic Payments 2017' conference held in Salalah under the auspices of H.E Shaikh Khalid bin Omar Al Marhoon, Minister of Civil Services.

Hosted in association with the Central Bank of Oman, the conference marked the first international payments event in the Sultanate. Industry experts addressed the conference and highlighted critical issues and opportunities in the electronic payments industry. The key topics focused on international payment systems, mobile payments ecosystem, digital currency, regional RTGS for cross border settlement, legal dimensions and visions in electronic payments.

In appreciation of the bank's role in promoting electronic payment channels in Oman, the bank was honoured at the conference. Amjad Al Lawati, AGM – Cards & eBanking, received the award from the guest of honour.

Bank Muscat utilised the opportunity to showcase Oman's first mobile wallet launched by the bank to leverage digital technology to offer secure and convenient payment channels in Oman. Reiterating the bank's strong lead in rolling out electronic payment facility as part of the country's e-Government initiative,  bm Wallet is primarily a state-of-the-art 'cash on mobile' solution which can be used for cash transfers to other mobile wallet users based on mobile numbers and aliases.

The electronic wallet is set to emerge as a convenient electronic payment tool for cash transactions in Oman as Bank Muscat remains focused on helping customers make a smooth transition towards efficient tech-focused processes and ride the waves of technology to their advantage.

The bm Wallet app can be accessed on all IOS and Android devices with good internet connectivity and is available free of cost in both English and Arabic in IOS and Android app stores.

Marked by speed, convenience and security, Bank Muscat's electronic banking channels enable financial transactions anytime, anywhere. The technology focus of Bank Muscat is reflected in the largest network of inter-connected branches, payment gateways, cards, merchant services, alternate channels of ATMs, CDMs, online and mobile banking as well as connectivity with utility service providers. The objective is to serve as a vital link to provide efficient electronic banking services.