Taher bin Salem al Omari, CEO of the Central Bank of Oman (CBO) has said that there has been an increase in the use of retail electronic payment channels in the Sultanate of Oman
The value of electronic clearing system transactions increased to more than 14 million transactions, with a value of more than RO9 billion, an increase of 39 percent in 2021 compared to 2020. in the total number of transactions.
The percentage of cash withdrawals through ATMs decreased to 19 percent in 2021 from 26 percent in 2020, while the told card payment transactions increased from 66 percent in 2019 to 81 percent in 2021.
From January this year, the cashless payment scheme was rolled out in stages, covering shopping malls, cafes and restaurants, commercial centers, gift markets, jewelry stores, electronic shops, grocery stores, vegetables and fruit sellers, building material shops, and outlets in industrial areas. Commercial stores figuring in this list must enable cashless payment services in the form of credit card readers, (point of sale) POS terminals, and other facilities.
The Ministry of Commerce and Industry and Investment Promotion said it will ensure facilities required by commercial outlets are provided by local banks and service providers without imposing any cost burden on the business community.
Fees for electronic transactions were regulated by the Central Bank and must not exceed 1.5 percent of the billed amount where payment is made by credit card.
Fees levied on payments made by mobile wallets will be limited to a maximum of 0.75 percent
Source: https://www.zawya.com/en/world/middle-east/cashless-transactions-gain-momentum-in-oman-cbo-g1t7hn2n
