MUSCAT: The pandemic brought about a massive shift to digital payments in Oman, a top banking official said.
Contactless payments in the country have increased by 40 per cent during COVID-19, while cash withdrawals decreased by 10 per cent. “In light of the pandemic, payments using bank cards increased by 40%, while cash withdrawals decreased by 10%,” said Ali Hassan Moosa, President of the Oman Banks Association.
“During the lockdown period, consumers were forced to buy online and that has dramatically increased,” he added.
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Starting from January 1, 2022, Oman will make mandatory for commercial activities to provide electronic payment methods to customers to reduce cash circulation and enable them to rely on contactless ways.
In the first phase, the list of commercial activities that will have to implement mandatory electronic payment methods include shopping malls, restaurants, cafes, commercial centres, gift markets, jewellery shops, activities selling foodstuffs, fruits and vegetables, electronic shops, activities in industrial areas, building material activities and tobacco shops must implement electronic payment methods from next year.
