Bank Mus­cat launches Oman’s first elec­tronic wal­let

Muscat Daily - - BUSINESS -

Mus­cat – Bank Mus­cat has launched Oman’s first mo­bile wal­let. The in­no­va­tive bm Wal­let marks yet an­other se­cure and con­ve­nient pay­ment chan­nel, re­it­er­at­ing the bank’s strong lead in rolling out elec­tronic pay­ment fa­cil­ity as part of the coun­try’s e-Gov­ern­ment ini­tia­tive.

The 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, ac­cord­ing to a press re­lease.

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

Cit­i­zens and res­i­dents can avail the ex­clu­sive Bank Mus­cat mo­bile wal­let app and load it with cash to a max­i­mum limit of RO300. The load­ing of mo­bile wal­let can be done us­ing Bank Mus­cat’s largest net­work of elec­tronic bank­ing chan­nels, in­clud­ing debit cards, ATMs, CDMs, mo­bile bank­ing and in­ter­net bank­ing.

To be­gin with, bm Wal­let can be used to trans­fer funds to other bm Wal­let users just by us­ing their mo­bile num­bers. Funds can also be trans­ferred to non-Bank Mus­cat cus­tomers’ wal­lets by us­ing their mo­bile num­ber/alias if they are reg­is­tered with the Cen­tral Bank of Oman’s (CBO) mo­bile pay­ment and clear­ing sys­tem. The funds can also be trans­ferred back from bm Wal­let to the user’s Bank Mus­cat ac­count.

The bm Wal­let app is highly se­cure and does not store any sen­si­tive in­for­ma­tion or trans­ac­tion logs on the phone, which makes it to­tally se­cure. Bank Mus­cat has also built in other ro­bust se­cu­rity fea­tures into the app.

Am­jad al Lawati, AGM – cards and e-bank­ing at Bank Mus­cat, said, “Bank Mus­cat is de­lighted to launch Oman’s first elec­tronic wal­let, in­tro­duc­ing yet an­other in­no­va­tive and ad­vanced dig­i­tal pay­ment chan­nel. We thank the CBO for all mea­sures to align the bank­ing sec­tor in line with the gov­ern­ment’s am­bi­tious e-Gov­ern­ment pro­ject. In con­form­ity with international stan­dards, the elec­tronic wal­let pro­vides se­cu­rity and con­ve­nience for trans­ac­tions through mo­bile phones as Bank Mus­cat re­mains com­mit­ted to pro­mot­ing the new fa­cil­ity as a pre­ferred mode of pay­ment.”

Am­jad al Lawati

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