Challenges facing e-payments focus of international meet

The trends in international payment systems, regional RTGS for crossborder settlement and nationwide mobile payments were among the key topics discussed at the recent international conference on electronic payment, ‘Electronic Payments – 2017’.

Majid al Amri, CEO of Thawani Technologies, (pictured), took part in a discussion titled ‘Realising a Countrywide Interoperable Mobile Payment Ecosystem at the event organised by The Middle East Centre for Consulting and Studies.

The meet saw participation from officials and experts from within and outside of the Sultanate.

They highlighted several key areas of great importance to the financial sector, including legal extent of electronic payment processes, legal visions between legislations and practices, and digital currency.

Al Amri said the conference has provided an opportunity to meet with officials, experts and legal professionals related to the financial sector. “It is an opportunity to exchange latest developments in electronic payment systems and address the challenges facing e-payment and provide possible solutions.”

Al Amri touched upon his vision for e-payment systems through mobile phones and the important challenges faced by the financial sector.

Incidentally, Thawani Technologies Company is one of the first national companies that relies on innovative technologies to provide easy and secure e-payment solutions.

Its new e-payment platform ‘Thawani’ relies on a mobile phone to make and accept payments from customers.

It offers a safe, simple and highly secure alternative payment method for cash, credit and debit cards. It is compatible with Android and iOS platforms. Thawani has been designed to be an easy payment solution that takes away the complexity of remembering multiple PINs and passwords while keeping banking information completely private.

Thawani is fully compliant with the latest local and international standards for data integrity and secure encryption.

The company also adopts serious controls for fraud management, risk management and anti-money laundering activities.

The ‘Electronic Payments – 2017’ conference is the first international e-payment conference to be held in the Sultanate. It was sponsored by the Central Bank of Oman and ProgressSoft Corporation. The conference saw participation from renowned figures from the economic, financial and banking sectors from all over the world.