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Bank Muscat and Visa renew partnership to drive digital commerce in Oman

The bank also received an award for its Leadership in developing Contactless PoS infrastructure in Oman.

TAS News Service

info@thearabianstories.com

Tuesday, November 23, 2021

MUSCAT : Bank Muscat, the leading financial services provider in the Sultanate of Oman, and Visa, the world’s leader in digital payments, has announced the renewal of their partnership. An agreement was signed recently in the presence of Sheikh Waleed K. Al Hashar, Chief Executive Officer, Bank Muscat, by Dr. Saeeda Jaffar, Senior Vice President and Group Country Manager, GCC region, Visa and Amjad Iqbal Al Lawati, Assistant General Manager – Cards and eBanking, Bank Muscat. The visiting Visa delegation also presented an award to the bank for its Leadership in developing Contactless PoS infrastructure in Oman.

Amjad Iqbal Al Lawati, Assistant General Manager – Cards and eBanking, Bank Muscat: “As a pioneer in launching innovative products and services to enhance customer experience, we are very pleased to continue partnering with Visa to rapidly roll out contactless payment infrastructure across the Sultanate. This is greatly benefiting our customers and merchant partners alike. Contactless payments are highly secure and convenient, and will promote further innovation in other sectors, apart from enhancing the convenience of making PoS payments quickly and securely.”

Dr. Saeeda Jaffar, Senior Vice President and Group Country Manager, GCC region, Visa said: “As the global leader in digital payments, our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our focus on innovation has been a catalyst for the growth of digital payments, and we are delighted to strengthen our longstanding partnership with Bank Muscat to provide access to the digital economy to more consumers and businesses in Oman.”

Bank Muscat is particularly keen to encourage all its customers to use digital banking channels to meet their financial requirements and needs. As the leading financial services provider in the Sultanate, Bank Muscat has the largest network in Oman. Today, the bank’s merchant partners across the Sultanate use over 24,000 Point of Sale (PoS) devices on a daily basis. The tremendous growth in PoS transactions is reflected by the fact that more than 61 million PoS transactions have already been carried out in 2021 compared to about 45 million in 2020. The technology-driven products and services are in tune with Oman’s move towards a cashless, e-payments-based society.

Over the years, Bank Muscat has been closely partnering with Visa in building a state-of the-art digital payment infrastructure in the Sultanate that are in line with the Sultanate’s ambitious eGovernment project and conform to international standards.

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