MUSCAT, 31 May 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, in step with its 'Let's Do More' vision and commitment to partnership in promoting Oman as a unique tourist destination, has launched the first-of-its-kind point of sale (PoS) card payment facility allowing visitors to pay in the currency of their choice. For the first time in Oman, the bank has introduced the Dynamic Currency Conversion (DCC) PoS facility at Crowne Plaza Muscat Hotel managed by IHG (InterContinental Hotel Group) where visitors l have the option to carry out card transactions in their home currencies.
By choosing the DCC facility, customers will know the exact amount of transaction in their home currency. Competitive foreign exchange rates are applied, providing instant conversion to a familiar currency. The amount quoted will be the exact amount customers will be charged in their home currency.
Amjad Al Lawati, AGM – Cards & eBanking, said: “Bank Muscat is delighted to join hands with Crowne Plaza Muscat Hotel to launch the unique value-added service for the hospitality sector in Oman. The DCC facility comes as part of the bank's commitment to add value to products and services. The PoS facility allows customers to use their debit / credit cards issued by any bank across the world and make payment in their home currency on Bank Muscat GPRS PoS machines. The facility to pay in one's home currency adds convenience and security to card payments by visitors."
Bank Muscat is making all efforts to support partners to adopt secure electronic payments as a business model. The DCC initiative comes in line with the government efforts in making e-payment the preferred mode of payment and motivating a change in consumer behaviour that makes 'payment by cards' both a habit and preference in view of convenience and security. The bank will soon roll out the DCC facility to cover all major tourist locations like hotels, malls and duty free shops in the airport.
Amjad Al Lawati added: “Reflecting our commitment to 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."
The bank's ability and flexibility to adapt, innovate and provide customised payment solutions is unique, changing the customer payment behavior from 'cash to card'. 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 partner outlet network has grown to over 10,000 with nearly 16,000 PoS terminals deployed across the country to support e-payment and continues to expand rapidly.