Oman has a new ePayments system
The Central Bank of Oman has introduced a new system for clearing ePayment via smartphones. The service, experts said is part of an effort to reform the financial system and strengthen its role in the economy. The central bank said the advanced e-payment system is in line with the government’s vision to boost ePayments in the country by upgrading and modernizing it with additional payment services and benefits. The bank’s CEO Tahir bin Salem al-Amri said the updated mobile payment clearing platform provides an easy, secure and cost-effective payment mechanism in the country. The system allows for smooth interoperability between various banking systems and applications and smartphone eWallets offered by banks and payment service providers in Oman. To achieve simple processing of payments, the Central Bank has used standardized system specifications and QR code standards for mobile payment.