Payments/OM
Oman
ISO OM · 3 schemes
Summary
- MPCSS is the mobile payment clearing system with QR
- 318.6% volume growth in 2024 (strongest growth)
- Three identifier methods: Mobile, Alias, QR Code
- Vision 2040 cashless society alignment
- Apple/Samsung Pay launched 2024
Banking landscape
Central Bank
- Name: Central Bank of Oman (CBO)
- Website: https://cbo.gov.om/
- Role: Monetary policy, payment systems oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Bank Muscat | Commercial | BM Mobile |
| 2 | National Bank of Oman | Commercial | NBO App |
| 3 | Bank Dhofar | Commercial | BD Mobile |
| 4 | Ahli Bank | Commercial | Ahli App |
| 5 | Sohar International | Commercial | Sohar App |
Market Structure
- Bank Muscat: Largest bank
- Islamic banking: Growing presence
- OmanNet: National ATM/POS network
- PSPs: Licensed payment providers
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| MPCSS | CBO | Mobile clearing | Active |
| OmanNet | CBO | ATM/POS switch | Active |
| RTGS | CBO | Large value | Active |
| ACH | CBO | Clearing | Active |
MPCSS Statistics (2024)
- 318.6% volume growth
- 223.5% value growth
- Strongest growth among all systems
- 4.9M to 40M transactions (2022-2023)
MPCSS Identifier Methods
- Mobile Number
- Alias Name
- QR Code
Payment Types
- Person-to-Person (P2P)
- Person-to-Business (P2B)
- Person-to-Government (P2G)
- Real-time settlement
QR code standards
MPCSS QR Payments
| Attribute | Value |
|---|---|
| Operator | Central Bank of Oman |
| System | MPCSS |
| Method | QR Code scanning |
| Status | Active |
QR Payment Features
- Real-time mobile payments
- Bank/PSP app integration
- Merchant QR scanning
- P2B growth: 56K to 191K (2023-2024)
P2B Growth (2023-2024)
| Metric | 2023 | 2024 | Growth |
|---|---|---|---|
| Volume | 56,230 | 190,900 | 240% |
| Value | RO 0.858M | RO 2.03M | 137% |
E-Wallet Development
Khedmah Pay
- OIFC e-wallet
- CBO approved
- QR code payments
- Phone number transfers
Mobile payment apps
| App | Provider | MPCSS | QR |
|---|---|---|---|
| Bank Muscat | Bank Muscat | Yes | Yes |
| NBO App | NBO | Yes | Yes |
| Khedmah Pay | OIFC | Yes | Yes |
| Bank Apps | Various | Yes | Yes |
2024 Wallet Launches
- Samsung Pay: April 2024
- Apple Pay: September 2024
- Google Pay: July 2025
Digital Payment Methods
- Mobile number transfers
- Alias name transfers
- QR code scanning
- Contactless NFC
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| MPCSS QR | Mobile QR | CBO | Growing fast | mpcss-qr |
| OmanNet | Card switch | National | Universal | — |
| NFC Wallets | Contactless | Apple/Samsung | New (2024) | — |
Sources
- CBO - Payment System Reforms
- Oman News - MPCSS Upgrade
- Oman Observer - Instant Payments Rise
- Times of Oman - Mobile Payments Surge
- TechAfrica - Google Pay Oman
- IBS Intelligence - Khedmah Pay
- GlobalData - Oman Cards
- Oman Observer - ATMs vs Mobile
- Zawya - Mobile Payments Surge
- Zawya - Payment Methods Oman
Full country report
Schemes
Standards
Primary · 1